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I r^v iisTG T r u s t New C o m p a n y Y ork MURRAY SHIELDS E C O N O M IS T April 9, 1943 Dear Marriner: Don and I are delighted that you have accepted our invitation to be the guest of our group of New lork economists at dinner, 6:30 P.M., University Club, 1 West 54th Street, New York City, May 7, 1943. A list of the members of the group is enclosed. As I said over the telephone on Wednesday, the dinner is intended to be a wholly in formal round-table discussion and will not entail any formal speech but we hope that you will speak informally in order to point the direction of the discussion. A list of questions which you might discuss is enclosed but we want you to feel free to say anything you think the group ought to hear. Don and I will, of course, undertake to rule out of bounds any subject which you prefer not to have discussed. A copy of the announcement which is going out today to the members of the group is also enclosed. Thanking you again for agreeing to be the guest of our group, I am Since Mr. Marriner S. Eccles, Chairman Board of Governors of the Federal Reserve System Washington, D. C. Mr. Marriner S. Eccles, Chairman, Board of Governors of the Federal Reserve System, has consented to be the guest of the New York Economists Group (list of members enclosed) for dinner on May 7, 1943, at 6:30 P.M., in Rooms 3 and 4 of The University Club, 1 West 54th Street, New York City. Business dress. The dinner will be limited to members of the group. Please inform Miss Sylvester, Digby 4-3500, Ext. 576, whether you will be present. Murray Shields Donald B. Woodward B. H. Beckhart, Director of Research Jase National Bank New York, New York Herbert N. Repp, Vice President Discount Corporation of New York New York, New York Dr. W. A. Berridge, Economist Metropolitan Life Insurance Company New York, New York J. H. Riddle, Economic Adviser Bankers Trust Company New York, New York Dr. Irvin Bussing, Economic Adviser Savings Banks Trust Company New York, New York George B. Roberts, Vice President National City Bank New York, New York W. W. Cumberland, partner Wellington & Company New York, New York E. B. Schwulst, First Vice President Bowery Savings Bank New York, New York Stephen Foster, Economic Adviser to the President New York Life Insurance Company New York, New York Murray Shields, Economist Irving Trust Company New York, New York A. J. Hettinger, Jr., V. P. and Secretary Central American Investors Company New York, New York //_\tes E. Hollingsworth, Vice President ventral Hanover Bank & Trust Company New York, New York Alan H. Temple, Vice President National City Bank New York, New York George Weiss, Partner and Manager Statistical Department J* S. Bache & Company New York, New York Aubrey G. Lanston, Vice President The First Boston Corporation New York, New York Hans A. Widenmann, Partner Carl M. Loeb-Rhoades & Company New York, New York Roderick McRae, Vice President Bank of New York New York, New York Donald B. Woodward, Research Assistant to the President Mutual Life Insurance Company of N. Y. New York, New York Glenn G. Munn, Economist Paine, Webber, Jackson & Curtis New York, New York QUESTIONS WHICH THE NEW YORK ECONOMISTS WOULD LIKE TO HEAR MR. ECCLES DISCUSS What will be the role of the multitudinous credit agencies in the postwar scheme of things? What are appropriate fiscal, monetary and banking policies during and following the war with special reference to the development of Mr. Eccles' compensatory theory? Do the fiscal and banking agencies have the power they will need in the postwar period? What role will changes in and the level of inter est rates play in the postwar period? CHANGE IN DATE AND PLACE OF ECCLES DINNER Mr. Marriner S. Eccles, Chairman, Board of Governors of the Federal Reserve System, will be the guest of the New York Economists Group on Friday, April 30 (instead of Friday, May 7) for dinner, at 6:30 P.M., at The WaldorfAstoria Hotel, Fourth Floor, West (instead of at The University Club). Business dress. The dinner will be limited to members of the group. Please inform Miss Sylvester, Digby 4-3500, Ext. 576, whether you will be present. Murray Shields Donald B. Woodward April 21, 19U3 Mr. Murray Shields, Economist, Irving Trust Company, Mew York City. Dear Murray: In accordance with our telephone conversation yesterday, I shall be present on April 30 at the Uni versity Club for the economic disoussion along the lines that hare already been suggested. I want to reiterate my appreciation of the invitation and the change of data from May 7 to April JO. That is a searching list of topics suggested for disoussion. I as asking same of our economic staff to look over the list and make suggestions and possible additions Inasmuch as you remarked that I need not feel bound by this exact framework. Possibly some discussion should be included of the need for maintaining a reason ably close balance between saving and investment* Off hand, I cannot think of any subjects that need to be ruled out of bounds with this group. With best regards. Sincerely yours. I xw in g T r u s t New C o m p a n y Y ork MURRAY SHIELDS E C O N O M IS T May 6, 1943 Dear Marriner: Donald Woodward and I want to thank you on behalf of our New York Economists Group for taking time out from busy days to meet with us last Friday night. Several members of the group have telephoned to say how pleased they were to make your acquaintance and to hear your very interest ing and stimulating remarks. Many of them said that they were delighted to make the "discovery”that they have so few basic points of difference with respect to policies and prospects. Don and I are indebted to you for having started our series of such meetings with spectacular success and the other speakers who follow will have a difficult time meeting the high standards which you have set. Our personal congratulations to you for doing a brilliant job. Sincerely yours Mr. Marriner S. Eccles, Chairman Board of Governors of the Federal Reserve System Washington, D. C. May 11, l9^3* Dear Murray: Your very gratifying note of May 6 with re gard to the meeting the other evening prompts me' to say that I felt indebted to you and to the entire group of economists for the opportunity to spend a stimulating and, from my standpoint certainly, a most useful evening, for I recognize that those who were present have a large degree of influence in tneir respective institutions and are among the most capable and thoughtful men in the eco nomic field. One always comes away from such a meeting with some misgivings or feeling of inadequacy and your letter was reassuring and, therefore, particularly appre ciated. M t h kindest personal regards, Sincerely yours, Mr. Murray Shields, Economist, Irving Trust Company, New York City. Ir v in g T r u st New C o m p a n y Y oriv MURRAY SHIELDS E C O N O M IS T May 21, 1943 Dear Marriner: In ay note of May 6 I neglected to enclose a list of those present at the dinner of the New York Economists Group at which you spoke so I am enclos ing it now. Again let me thank you for doing a splendid job. With kindest personal regards, Sincerely yours Mr. Marriner S. Eccles, Chairman Board of Governors of the Federal Reserve System Washington, D. C. Those present at April 30, 1943, meeting of New York Economists Group: Dr. Irvin Bussing, Economic Adviser Savings Banks Trust Company V. W. Cumberland, Partner Wellington & Company Stephen M. Foster, Economic Advisor New York Life Insurance Company A. J. Hettinger, Jr., Vice President & Secretary General American Investors Company J. E. Hollingsworth, Vice President Central Hanover Bank & Trust Company A. G. Lanston, Vice President The First Boston Corporation Roderick McRae, Vice President Bank of New York Glenn G. Munn, Economist Paine, Webber, Jackson & Curtis H. N. Repp, Vice President Discount Corporation of New York J. H. Riddle, Economic Adviser Bankers Trust Company E. B. Schwulst, First Vice President Bowery Savings Bank Murray Shields, Economist Irving Trust Company Alan H. Temple, Vice President National City Bank George Weiss, Partner J. S. Bache & Company Hans A. Widenmaxm, Partner Carl M. Loeb-Rhoades & Company Donald B. Woodward, Research Assistant to President Mutual Life Insurance Company
