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eleph o n e


u p e r io r


Feb. 22, 1939.

Mr. Marriner S. Eccles,
Chairman, Board of Governors,
Federal Reserve System,
\7ashington, D.C.
Dear Mr. Ecoles:
I wanted you to know that at
least one paper in Chicago extended you
the courtesy of observing your request
to be "off the record.”

t r L. Ayers,'
Managing Ed

March 1, 1939*

Mr. to. L. i-.yers,
Managing Editor,
Chicago Journal of Commerce,
12 East Grand avenue,
Chicago, Illinois.
Dear Mr. Ayers:
This is to thank you for 7our thoughtful
note of February 22, 1939> enclosing the very fairly
presented account of my recent "off the record* talk
before the Economic Club of Chicago.
Had there been time and opportunity, I
would have undert&ken at least to prepare a summary
for the newspapers, but the arrangements for me to
meet with this group were made at the eleventh hour
when I was too pressed for time to do this. I
prefer not to speak off the record - I realize that
it presents a problem for the press because some may
not obseive the stipulation. I think they all would
do so if they fully understood the situation which
sometimes precludes preparation of a formal text for
direct quotation.
I wanted you to know that I appreciate
your attitude.
Sincerely yours,

M. S. Eccles,