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Savannah, Ga. 3/5/45. Mr. Marriner Eccles Chairman Federal Reserve Board Washington, Dear Sir: I read an article today in my local ne?«spaper, relative to the rising prices on homes and farms, and that some law should be passed, to stop this un-warrented cost on homes and farms, yes sir, some law should be passed, and passed quickly, as these real estate dealers and property owners, are really overdoing the thing* why they are selling farms, homes and even just plain building lots any Vvhere from 100% to 300% over ahd above the prices these same pelces of property, were selling for in 1942. for an example, right here in Savannah, a man had a building lot that he want the price of $500.00 in 1942 Its only 51x105 feet now whats his price for this lot today? exactly double the 1942, he is ashing $ 1,000.00 with a take it or leave it attitude* another example Mr. Eccles there was a frame house here in Savannah, of two-story structure, with 8 roome and two baths, four rooms and bath to each floor. I could have bought this very same home, in 1^42 for $2,700.00 now what they want for, this very same house, with no improvements oj^r and aboVe it stood in 1942. they want $5,000.00 now what true in these two above mentionxhere In Savannah, is true all ove] u.d nation, and it should be stop, and stopped immediately, by law. certainly its not fair to restrict one class in the selling of their products etc, and then let another go scott free* for an example of what I mean, is this, if opa, can tell e person who owna a house that he or she can rent that house for only so much per month or year, and not a cent more, or else they will be brought to justice and prosecuted, for over charging a renter, or take It an other way, if QP'A can set a fix price on second automobiles, etc, then they should certainly get buisy, and get a law to restrict and restrain these people, wether it the actual owner, or the real estate dealers, from doing just as they please, in fixing and selling the prices of farms,lots^and homes,for just what ever prices, they please, and it seems as If the sky is the limit» In closing Mr. Eccles, I hope you and others who can and have the power to do so get buisy at once, and pass a law, to control the prices on farms.and homes, as quickly as possible. yours very truely March 10, 1945• Mr. H. A« 5tuckey, 1137 I. Bolton btreet, bav.armah, Georgia. Dear Mr. btuckey: This Xa to thank you for your interesting and encouraging letter of ¿¿arch 5 in regard to the importance of preventing further inflationary rise in the price of farms, homes and other capital assets. It occurred to me that you might care to see the text of the encloaed statement i&hich I.issued to explain tne reasons why I consider it iiiiportont to take further steps at .this time to curb the rising prices of capital assets. Sincerely yours, M. S. Eccles, Chairman. Enclosure IT:b
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