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EXECUTIVE OFFICE OF THE PRESIDENT
BUREAU OF THE BUDGET
September 17,

Dear Marriner:
Your letter to Senator McCarran and Representative
Manasco causes me to be impressed again by the high degree
of wisdom, perception and statesmanship in the Federal Reserve Board.
Sincerely yours,
(Signed) Harold D. Smith
Director

Honorable Marriner S. Eccles
Chairman, Board of Governors of the
Federal Reserve System
Washington, D# C.