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J V o .2 9 LEON ; December 5,1940 F R A S E R , President Dear Marrlner: If In order, may I have a copy of your recent speech? Perhaps you might deem it appro priate to send a copy to each member of the Council. You will know best. Yours ever Hon. Marriner S. Eccles Chairman, Board of Governors Federal Reserve System Washington, D. C. December 9» 194-0. M r. L e o n F r a s e r , P r e s i d e n t , T h e F i r s t N a t io n a l Sank. o f t h e C i t y o f New Y o r k , New Y o r k C i t y . D ear Leon : a s y o u r e q u e s t i n y o u r n o t e o f D ecem b er 5 , I am e n c l o s i n g a c o p y o f my t a l k b e f o r e t h e N a t i o n a l I n d u s t r i a l C o n fe r e n c e B o a r d . I h a d u n d e r s t o o d t h a t t h e s e m e e t in g s o f t h e C o u n c il w e r e n o t p u b l i c an d I h a d n o t in t e n d e d t o g i v e my t a l k o u t . T h e much g a r b l e d v e r s i o n s t h a t s u b s e q u e n t ly a p p e a r e d i n t h e p r e s s , h o w e v e r j l e f t me n o a l t e r n a t i v e e x c e p t t o make p u b l i c w hat I a c t u a lly had s a id . I f you f e e l , a f t e r lo o k in g i t o v e r , t h a t t h e o t h e r m em bers o f t h e a d v i s o r y C o u n c il w o u ld c a r e t o s e e i t , I w o u ld b e v e r y g l a d t o s e n d c o p i e s t o th e m . b in c e r e ly y o u rs , M. o . E c c l e s , C h a irm a n . e n c lo s u r e E T :b December 14, 1940 M r . Thomas M . S t e e l e , P r e s i d e n t T h e F i r s t R a t i o n a l Bank a n d T r u s t Com pany New H a v e n , C o n n e c t ic u t D ear M r. S t e e le : U pon r e a d i n g t h e a d d r e s s w h ic h C h a irm a n E c c l e s g a v e b e f o r e t h e N a t i o n a l I n d u s t r i a l C o n fe r e n c e B o a rd , M r. F r a s e r s u g g e s te d t h a t a c o p y b e s e n t t o t h e o t h e r m em bers o f t h e F e d e r a l A d v i s o r y C o u n c i l . A c c o r d i n g l y , a t t h e d i r e c t i o n o f M r . E c c l e s I am e n c lo s in g a c o p y t o g e t h e r w ith th e p r e s s s ta te m e n t e x p l a i n i n g w h y i t w a s m ade p u b l i c . S in c e r e ly y o u rs , E l l i o t t T h u rs to n S p e c ia l A s s is ta n t t o t h e C h a irm an e n c lo s u r e s ET/l Identical letter sent to all Federal Advisory Council members with the exception of Mr, Leon Fraser.
@FedFRASER