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UTAH FIRST NATIONAL BANK
Of S a l t Lake City
S a l t Lake C i t y , 0tfth
c
ORVJUL V . ADAMS
March 29, 1949
Dear M&rrineri
•
In your letter of March 24f 1949, replying to mine of the
19th^ among other cofisaents you Bid* was this: W I would judge from
rataarks which you have made In the interim that time must have changed
to some good extent, the very good opinion you expressed in that letter.*
¥our remark prompts me to quote some paragraphs from a letter
you wrote me under date of June 12, 1934.8 {^M *** ( w w * * ^ %£** ***** V3LA^
"In the Sunday issue of the Mew Xork Times an
article by John Mfcynard Keynes was published. Mr. Keynes
at the present time is in this country and was recently In
Washington for a week. I am enclosing a copy of th©
article end I hope you will read It carefully. I am sure
If you do so it will throw a great deal of light upon our
present difficulties and their solution.
"For more than three years now I have personally been
in complete harmony with the problems and their solution
as expressed by Mr. Keynes. I sm sure he has a great
Influence on Washington policy. He had two long conferences
with the President and since that time there has been a
shifting in the program of th© administration to meet the
present situation by increased spending.
"Let me know what you think of the Keynes article.
As you probably know, he is generally recognized as the
world*© greatest living economist.11
Of course, Marrincr, you wouldn't expect me to be in entire
agreement with you aftsr your unqualified endorsement of the philosophy
of John. M&ynttrd Keynes*
I am pretty sure from things you have recently said in public
and in the testimony you have given before Congressional Committees that
you h&ve repented, and in thus repenting you have proven your quality.
With all beat wishes,
Sincerely yours,
c
Mr. Marrim-ir S. Eccles
Vasnington, D. C.
(Signed) Orval
Orval ¥. Adams
c
0
F
X
May 12, 1949,
Mr, Orval V. Adams,
Utah First National Bank
of Salt Lake City,
Salt Lake City, Utah.
Dear Orval}
Your letter of March 29* which was on
turned from isy recent trip to the West, recalls
and confidential letter I once wrote to Senator
I have no doubt you would be in full accord. I
w& desk when I reto my mind a personal
Byrd with whose views
am enclosing a copy,
Keynes has now passed from the earthly scene and this letter
is nearly seven years old. It should be borne in mind that Keynes
was eleTEted to high position and honored not by a Labor government
but by the Churchill regiiae. I wonder if you have read any of
Keynes, including his "Economic Consequences of the Peace* which,
e.s we now look back upon the aftermath of the First World War, was
one of the most prophetic documents of our times. It is worth
reading for he saw with such clarity the folly of Allied policy
after Vorld Mar I and had the courage to expose its fallacies.
But Keynea needs no defense from me. Time, as I remarked before,
has a way of vindicating him.
I fear I have not repented, Orval. I guess neither of us
ever will. But our differences aside, you always h&ve, as you know,
my best wishes.
Sincerely yours,
S. Kccles
Enclosure
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@FedFRASER