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Tka^sxlsws ¿ d e . ¿iecw cto /H4J ^ ydctM. J y QúlZu-Ás. ÍJuy/í •/crf jefa-c ß - M * Ai^Jß/) Cbt^J^i^c^L^ ^outje 4¡JLtf iL /OtlïtoœastJ > Ja-** c*J>J^c<_ -r y-teuJvJ. O^K inrCZA— ^tc^jttcf ç^'yia^f I /fc^y* yCaJ<z¿^ / f a écv^ /Cfc- ^JoL^J s k Â ¿ Z ^ I> \ ^ r o OY- / d s f / í f March 5, 19*6. Miss Lillie J. Kiefer, 147ftest105th Street, New York New York. Dear Miss Kiefer: This is to acknowledge your letter of March 1 with regard to rising living costs. Some of the newspaper accounts misrepresented my answers to questions when 1 appeared before the house Banking and Currency Committee in advocacy of the extension of price controls. I did not state that the cost of living would rise another 10 per cent because that would merely be a guess at best. The official figure used by the OPa is that living costs have risen 33 per cent since the beginning of the war. In answer to a question by Congressman Patman, I said that based on the new wage-price policy we might get some further increase, and I added, "It is estimated that there is a possibility of it reaching as high as a maximum of 40 per cent.11 I added that if we could hold the line at that point we would have done a fairly good job all things considered, in view of the enormous inflationary pressures resulting from the financing of the war. Miss Lillie J. Kiefer - 2 - I recognize, of course, the plight of white-collar workers and fixed-income groups in any inflationary period, and certainly sympathize with you in the situation in which you find yourself as a result of increased costs. Sincerely yours, Eccles, M. Chairman. ETsb