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January 2A, 1950

Dear Marriner:
I just finished reading the excerpt from
the report of the Subcommittee on Monetary, Credit,
and Fiscal Policies. If the recommendations are
followed, the Federal Reserve and the Treasury
Department should do a much better job.
You are to be congratulated, Marriner,
on influencing the Joint Committee. I hope you
will remain in Washington and on the Federal
Reserve Board for a long time. It is too bad the
Government didn't go along with your ideas on
fiscal policy during the period you were in
Good luck to you. I hope you will be
able to get down to Boca Raton this spring.


Sincerely yours

Senior Vice President
Mr. Marriner S. Eccles
Federal Reserve Board
Washington 25, D. C.

February 10, 1950.

Mr. V# F # Eotcring,
Senior Vice President,
First National Bank,
Minneapolis 2, Minnesota.
Dear Vic:
I ana pleased to know that you have taken an interest
in the report of the Subcommittee on Monetary, Credit and
fiscal Policies and naturally I have appreciated your comolimentary reference to my ideas. I have not been discouraged
by the fact that my views have not always been accepted, because I have realized that orinciples of national monetary,
credit and fiscal policy are not well understood by many
peoples, but I have observed that there is a growing appreciation in one form or another in public discussions and
sometimes in governmental action. Consequently, I keep trying when occasion offers as it did in the hearings before the
Douglas Subcommittee.
At the present moment I do not think it is likely
that I will get to Boca ftaton but in any event I shall look
forward to seeing you at the next opportunity.
Very sincerely yours,

M. S. Eccles.