The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
L O O M IS- SAYLES - 8 - C O M P A N Y INCORPORATED 140 FEDERAL STREET BOSTON l O February 6 , 1951 The Honorable Marriner S. Eccles Board of Governors Federal Reserve System Washington 25, D. C. Dear Governor: Telephoning you from Hew York l a s t Friday I had hoped to make an appointment t o c a l l on you the next day. The t r a n s p o r t a t i o n s i t u a t i o n i n t e r f e r e d . I am very sorry indeed as I should have l i k e d t o have seen you. You contributed c h a r a c t e r i s t i c a l l y t o consideration o f f i n a n c i a l and f i s c a l p o l i c i e s i n your recent testimony b e f o r e the Committee on the Economic Report. How the p u b l i c i s i n your debt f o r having made a v a i l a b l e the Open Market Committee's record o i the recent meeting a t the White House. The controversy i s a most u n f o r tunate one—or i s i t , since the episode would seem to improve the prospects f o r l e g i s l a t i o n strengthening the System 1 s authority? Anyhow I am devoutly t h a n k f u l t h a t the System hasn 1 1 y e t been captured by the Treasury. Cordially Yv. R. Stark WRS:PTM February 13, 1951. Mr. W. R. Stark, Loomis Sayles & Company, 140 Federal Street, Boston 10, Massachusetts. Dear Bud; Thanks for your letter of February 6, 1951 and the kind remarks contained therein. The current controversy is in many ways unfortunate, but at least the discussions that have appeared in the press should serve to acquaint the general public with the baisc economic problems confronting the country at this time. After a l l , the welfare of our democratic Government i s dependent upon an informed electorate - i f we could l i f t the v e i l of mystery that surrounds central banking, we might get more active support for sound monetary, fiscal, and credit policies. Sincerely, M. S. Eccles CflSsdm
@FedFRASER