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This article is protected by copyright and has been removed. The citation for the original is: Associated Press, “Taxes on Realty Gains Advocated: Eccles Proposes Levy to Reduce Speculation,” February 21, 1945. T E L E P H O N E B A R C L A Y 7 - 4 5 4 5 - 4 6 - 4 7 Hon.Marriner S. Eccles, Chairman,Federal Reserve System, Washington,D.C. Bear Mr.SteclessYou and I have had B, l i t t l e correspondence , about checking inflation, and I thought you would be interested in the enclosed article,which came in my mail the other day. I s t i l l f e e l excessive taxation would create harm and give the bears a chance t o s e l l short, while other people,being fearful of your attitude, would not buy and thus bring on something of a security depression, and that mild be harmful, because you and I know when the market i s going up i t inspires the people m t h optimism and when i t goes do¥/n i t creates pessimism. Very t r u l y yours, AH. Erie. 1 0 May 8 , 1945. Mr. William B. Joyce, ito. B. Joyce & Company, I n c . , 115 Broadway, New York 6 , New York. Dear Mr. Joyce: On behalf of Chairman E c c l e s , permit me t o thank you for your l e t t e r of May 1 with enclosures. Sincerely yours, E l l i o t t Thurston, assistant t o the Chairman. ET:b
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