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BAHNAJBY c CONHAD Russ BUIUIINO SAN FRANCISCO November 26, 1937 Dear Marriner, It has been interesting to me to see in the papers lately how strongly the building program is being agitated. I remember talking to you about this when I saw you in Ogden in September and your telling me how strongly you felt that building should be encouraged. As I told you, I have felt for some time that extensive activity in the building field will do more to stimulate business in this country than anything else in any other program which may be undertaken. I hope you are well and enjoying life. Yours as ever. Mr. Marriner S. Eccles, Governor Federal Reserve Board Washington, D. C. • , ; , , . . . . ****** • &Jtf,tk \ 0 UP Mr. Barnaby tonrad ftuss Building ban Francisco, California Dec*r barnaby: j December 8, 0 U y 1937. I t t\i S " i Tnis will dCKnowledge yours of November *c6 in which you refer to tne new legislation respecting housing and my part in it. t%a you know, 1 have been trying for a long time to get amendments to tne Housing Act which would make that legislation a reed, iiiechwaiism lor a housing program instead of tne disjointed and rjr^xting machine that it has been up to date. although you likely have seen tne press comments respecting it, 1 am enclosing a copy of the President's Message which 1 trust you will find time to read through carefully. There are implications in it which go beyond the mere proposal to reduce the interest and insurance costs involved in insured mortgages. 1 remember your saying that in tne event tne housing program should s et under way you would be glad to do anything you could to nelp further tne project. 1 cannot tell yet what will eventuate and I cannot hope to devote permanently a great deal of time to tne matter after tne legislation is once passed. The administration of the ^ct however, and particularly the policies of tne National Mortgage association to be financed by tne h.F.C. will have a very important part to play, and sound energetic leadership will ue required in ail parts of the country, hence 1 am going to Keep your offer in mind. Hoping j'ou are well cuid with oe^t wishes, 1 am Yours sincerely, k. b. Kccles y LC/fgr • SAN FRANCISCO- LOS ANGELES PRIVATE WIRES TO PRINCIPAL PORTLAND • SEATTLE FINANCIAL CENTERS CONRAD, BRUCE & Co. EIGHTEENTH FLOOR, RUSS BUILDING 235 MONTGOMERY STREET SAN FRANCISCO December 20, 1937 Mr. Marriner S. Eccles,Governor Federal Reserve Board Washington, D. C. Dear Marriner: Thank you for your recent letter, I have been following with interest the publicity in regard to the new legislation respecting housing. Any real stimulation of building would be a boon to the countryTs business. Let me know what eventuates and how you think I might be of service. Yours sincerely, BC:w
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