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E. A. (Gene) H a r r i s Real Estate and Loans 426 Gunter Building Office: Garfield 2515 Home: Fannin 5679 S A N A N T O N I O , 5, T E X A S July 30, 1948 Mr. IJarriner Secies Federal Reserve Board Washington, D, C, Lly dear Mr, Ecoles: You were quoted on the radio this morning as having said, i n effeot, that i t i s now too late to head o f f a depression; that a l l we can do now i s to soften i t s impact. In a United Press dispatch published i n a San Antonio newspaper today, President Truman was quoted as having said that a depression may be "on the way," Many months ago we Americans were told that Soviet Russia was "counting upon* a depression in the United States, Good God Almighty! Don»t you occupants of the seats of the mighty Know anything at a l l about the philosophy, the basic concept, or the History of our money civilization? If you don't, then why don*t you absquatulate? OF COURSE VTS ARB JEN FOR A DEPRESSION I And this is most certainly not a communistic declaration, CMy pe6ple were co-founders of this Nation.) In our money c i v i l i z a t i o n , the ups and downs of "Business" have been as rhythmic as the beats of a metronome. In University, and for more than t h i r t y years since, I have researched, studied aid anaylzed the phenomena of the boon-bust routine—with the net result that I*have a (oopyrighted) graph of the business cycles, lt»s as simple as thougn you dipped the f i v e fingers ot your hand i n red paint and then made an imprint of those five fingers on a white wall: the impression would represent the pattern of the business cycles, recurring rythmically through the centuries, with a regular irregularity, so to speak, that has not faltered since the founding of the Bank of England, To change this apparently fatalistic order, we would have to upset, overhaul, and completely revolutionize a concept, or philosophy of money which has controlled the eoonomy* of mankind fa? at least 3000 years. Are you interested? my copyrighted graph. I f so, perhaps you would l i k y t o see \ Cordially, C/o to Gen. Claude V. Birkhead, 2, A. GZfrTJS HARRIS Birkhead,Beolcnarm,8tanard & Vance, San Antonio^ Texas
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