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M c G r a w -H i l l P u b l i s h i n g C o m p a n y -In c MeGRAWT- HILL BUILDING 3 3 0 W E S T 4 2 no S T R E E T NEW YORK, K JY. W N a s h in g t o n a t io n a l Pa P ul O ress W f f ic e B u il d in g W A S H IN G T O N 4, D. C. ooton W ASHINGTON CORRESPONDENT January 9> 194-5 Hon. M a rrin e r S . E c c le s Chairman, F e d e r a l R eserve Board W ashington, D. C . Dear M r. Chairman: You w i l l be in t e r e s t e d in the attac h e d p r o o f o f an e d i t o r i a l "60,000,000 Jobs by .Law" which w i l l appear in the forthcom ing is s u e o f our p u b lic a t io n F a c to ry . W ith k in d e s t p e rs o n a l r e g a r d s , I remain / V ^ r y t r u l y y o u rs , \Washington C orrespon den t enc. This article is protected by copyright and has been removed. The citation for the original is: Morrow, L. C. “60,000,000 Jobs by Law,” Factory, 1945. January 12, 1945* Mr. P a u l Ifrooton, Viashingt on C orresp on den t, M c G raw -H ill P u b lis h in g Company, I n c . , N a t io n a l P r e s s B u ild in g , Washington 4 , D. C. D ear P a u l: Thank you f o r sendin g me the copy o f th e e d i t o r i a l by M r. Morrow, E d it o r o f "F a c t o r y ". I t seems t o me th a t an e d i t o r i a l such as t h i s c o n t r ib u te s n o th in g w hatever t o th e problem . I t may w e l l be th a t th e g o a l o f 60 m i lli o n employed o versh o ots t h e mark, th o u g h l th in k i t p r e f e r a b le t o aim t o o high r a t h e r than to o lo w . In an ad d ress I gave b e fo re th e N a t io n a l I n d u s t r i a l Conference Board I used th e f i g u r e o f 56 m illio n w o rk e rs. I a g re e th a t 56 o r 60 m i lli o n jo b s mean th e employment o f th e e n t ir e economy- and o b v io u s ly not in in d u s t ry a lo n e . To say , how ever, as t h i s e d i t o r i a l d o es, t h a t "th e lo w e r th e stan dard o f l i v i n g , th e g r e a t e r th e number employed** s t r i k e s me as an ab s u r d it y , and from my own exp erien c e in b u sin e ss and m an ufacturing I am w e l l aware o f t e c h n o lo g ic a l p r o g r e s s . I t seems t o me th a t in d u s try has a lre a d y r a i s e d i t s v o ic e , i f th e r e s o lu t io n s adopted at th e l a s t m eeting o f the N a t io n a l A s s o c ia t io n o f M an u factu rers can be construed as th e v o ic e o f in d u s t ry . I have a lre a d y had an exchange o f correspondence w ith th e au th o r o f th o se b ac k w ard -lo o k in g r e s o lu t i o n s . I s in c e r e ly wish in d u s t ry would r a i s e i t s v o ic e , but t h a t when i t does s o , i t would speak w ith more u n d e rsta n d in g and v i s i o n than re p re se n te d e i t h e r in th o se r e s o lu t io n s o r in t h i s e d i t o r i a l . H aving go tten t h i s o f f my c h e s t, l e t me r e c ip r o c a t e most h e a r t i l y your kind p e rs o n a l r e g a r d s . S in c e r e ly y o u rs, M. S . E c c le s , Chairman. ET:b M c G r a w -H i l l P u b l i s h i n g C o m p a n y -In c MeORAW- HILL BUILDING 3 3 0 W E S T 4 2 no S T R E E T NEWYORK 18,N.Y. P L.KASE A D D R E S S Y O U R R E P L Y T O W a s h in g t o n O f f ic e N a t io n a l P r e s s B u il d in g Pa u l W o o to n W a s h in g t o n W A S H IN G T O N 4, D. C. C orrespondent January 20, 194-5 Mr. M a rrin e r s . E c c le s Chairm an, Board o f Governors F e d e r a l R eserve System W ashington, D . C . Dear M r. Chairman: I am g r a t e f u l to you f o r c r i t i c i z i n g Mr. M o rro w 's e d i t o r i a l . So fr e q u e n t ly e d it o r s a r e den ied view s t h a t a re in o p p o s itio n to what they w r i t e . The F a c to ry e d i t o r i a l which you c r i t i c i z e d was w r it t e n by L . C . Morrow who, I am s u r e , i s more in t e r e s t e d in h e a rin g view s in o p p o s it io n than in r e c e iv in g commendation. I t was f i n e o f you to take the time to r e a d the e d i t o r i a l and to g iv e us the b e n e f it o f your v e ry im p ressiv e comment on i t . W ith b e s t w is h e s , I remain /'"Vtery t r u l y y o u r s , 1 W ashington C orrespondent
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