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February Bulletin March 15th statement to Fulbright Houston 3 - 2 0 - 5 0 Mr. Marriner Eccles Federal Reserve Board Washington, D.C. Dear S i r : Recently an a r t i c l e about you appeared in a local paper. It stated that you were against,1.The low interest rate on Treasury issues, 2.The administrations spending program, Secretary Snyders siphoning the money out of Social Security, Veteran's Insurance, and Postal Savings accounts and replacing the money with Gov f t. Bonds. You are to be commended for your stand. I n my opinion, such financing i s frenzied and unsafe. The a r t i c l e went on to say that you and others on the board had issued a statement a n a l i z i n g the public debt. Have you an extra one of those statements available ? I would like to read i t just for my own information. There is a rumer that you may resign but I hope you can stay in there and f i g h t u n t i l t h i s danger has receded. I am planning some slide i l l u s t r a t e d talks advocating economy i n government. ( I make my own s l i d e s . ) I f you have some information which you think should he publicized, I would be glad to use i t . Sincerel 6861 Lawndale Houston 12, Tex March 1950. Paul Tighe, 6861 Lsnndale, Houston 12, Texas. Dear Mr. Tighe: In replying to your letter of Uarch 20 addressed to Mr. Marriner Eccles, as you request I am forwarding you herewith: The federal Heserve bulletin for February 1950; Effect of Housing finance un Federal heserve Policies—statement Prepared by Uarriner Eccles, at re ,uest of Senator J. «illiam Fulbright, uid placed in Congressional xtecord of karch 15, 1950. Mr. Eccles is out of the city and w i l l not return u n t i l sometime in A p r i l at which time I w i l l c a l l your letter to his attention. Very truly yours, Secretary to s»lr. U. b. Eccles. Enclosures VE:di8
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