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B. BARRET COLORADO SPRINGS, & CO., INC. ^JWtufatWi, COLOR ADO January 31, 1951 DENVER GRIFFITH INVESTMENT COUNSEL Mr. Marriner S. Eccles, Member Federal Reserve Board Washington, D. C. Dear Marriner: Congratulations on your recent statement before Congress. I have deeply -wished that others would join your position of favoring higher interest rates on Government bonds i f inflation is to be stopped. You deserve double compliment because of your insistence on low interest rates i n the 1930*8 during depression. I t shows your a b i l i t y to adjust to r e a l i t y . However, i t is apparent that the majority do not agree, and i t becomes clear that w simply have not matured to a degree to attempt e and have a managed economy. To m the only solution at this late date is to restore to the e American people a good gold dollar. With politics what they are and Administrations what they are the public can be no less able to control ups and downs than the delegates to whom they gave this responsibility. Again, with congratulations, I a m Sincerely yours February 2, 1951 Mr. B. Barret G r i f f i t h , B. Barret G r i f f i t h & Co., I n c . , Colorado Springs, Colorado. Dear Barret: I t was very thoughtful of you to take time to write me about my testimony on January 25, before the Joint Committee on the Economic Report i n i t s hearings on the P r e s i d e n t s Economic Program. I always appreciate having the reactions of others, whether of approval or criticism, to my public utterances. I am glad to know that you approve of the suggestions I made i n my statement before the Committee, as reported i n the newspapers. Thinking you may be interested i n reading the entire text of D y statement, I am enclosing a copy of i t herewith. ^ With kindest regards, Sincerely yours, Enclosure VE:dls M. S. Eccles.
