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FEDERAL RESERVE

BANK

OF BOSTON
R A L P H E. F L A N D E R S




PRESIDENT

November 6,1945

Honorable Marriner S« Eccles,
Board of Governors of the Federal Reserve System,
Washington 25,
Dear Marriner:
You will be interested, I am sure, in
the enclosed copy of a letter which Congressman Spence sent to Majority Leader McCormack,
and which he in turn has forwarded to me«

A.
Enclsi

November 19, 1945.

Mr. Ralph I. Flanders, President,
Federal Reserve Bank of Boston,
Boston, Massachusetts.
Dear Ralph:
Let me acknowledge two notes from you, one of November
6 enclosing copy of Mr. Spencefs letter to the Majority Leader in
the House. I was especially glad to have this and promptly
called Mr. Spence to say that I hoped he would see his way clear
to go ahead at once with the bill as it ^stands.
Mr. Baruch talked to me some weeks ago about the possibility of making some changes in the bill that would make it more
of a veterang1 measure that General Bradley could get back of as
part of his program, but this idea seems to have expired somewhere
along the way and, accordingly, I told Spence that I would like to
see him go ahead with the bill as drawn.
The other is your note of November 13 enclosing a copy
of your letter to Secretary Wallace as well as your.address to
the Laymen's Council of Churches of Massachusetts. I, myself,
attended a Unitarian dinner the other night for Mr. Justice
Burton, and I am glad that you are also promoting good relations
with the Christians, though, like you, I do not quite see the
connection with banking and business affairsI
I was interested to note Mr. Wallace1s reference to
the statistical work of the Board and I agree with you that it
would be well to coordinate it with statistical work of the
Department of Commerce in connection with inventories.
Sincerely yours,

ET:b




F E D E R A L R E S E R V E BANK O F BOSTON
30 PEARL

r^ALPH

E.

STREET

FLANDERS
PRESIDENT

November 6#1945.

Honorable John Tu IlcCo:
Office of the Ifejori
House of Represontative
Washington, D. C.
Dear Mr. HcCorraacki




iiany thanks for y

tter of the

3rd with its enclosed 4o:x3u|iication from
Chairman Spence of th|
Banking and Currency,
Sincerely

A.

Committee on




COPY
Office of the Majority Leader
House of Representatives
Yfashington,D#C#
November 3,1945

Mr» Ralph E# Flanders
Federal Reserve Bank
Boston, Mass«

Dear M % Flanders:
I am enclosing a letter I have received
from Congressman Spence, -which 1 am forwarding to you for your information«
Very truly yours,
(Sgd.) JOHNW. IfaCCRMACK




HOUSE OF IffiFRESENTAT IVES
Committee on Banking and Currency
Washington
October 23, 1945

Honorable JohnW. McCormack
lEijority Leader
House of Representatives
Ifashingt on,D» C •
Dear John:
I have received your letter enclosing the address
made by SaljliFlanders for which I thank you* I
am acquainted with Mr» Flanders and have a very
high regard for him and his opinions*
I may say to you confidentially that I offered to
set the Wagner-Spence Bill to which Mr. Flanders refers
for hearing, but the Federal Reserve desired to make
some changes in it before it was considered by the
Committee• They have said they will make the changes
and return the bill in the near future» The bill
was approved by President Roosevelt, and the BaruchHancock report urged its passage»
I am anxious to hold hearings on the bill, and
Mr® Eccles promised me he would have the changes they
thought necessary made in the bill shortly after he
returns to Washington» I am confident it will be
favorably reported notwithstanding the fact that many
bankers and the American Bankers Association seem to
be opposed to its passage»
With all good wishes, I am
Sincerely yours,
(Sgd.) BRENT SPENCE

Enclosure