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OFFICE OF PRICE ADMINISTRATION WASHINGTON 25, D. C XF5CE OF THE ADMINISTRATOR O c t o b e r 6 , 19AA Mr. Marriner S. Eccles Chairman Board of Governors Federal Reserve System. Washington, D. C. Dear Marriners I think you will be interested in this little booklet on food prices. It doesn't look as though the farmers have suffered very much. One of our biggest problems from now on is how to keep their income at a high level* The average of individual f©oc|x?5i*oducts at retail has actually declined 2.1 p^a<cent in the last seventeen months. I believe weOiave done an even better job of forcing absorption of many of these higher prices at retail at the various stages of operation. The retailer, with vastly increased volume has made a killing• Let*s have luncheon together soon. Best regards. Sincerely, Chester Bowles Administrator Attachment 25 October 9. 19*4*. Honorable Chester Bowles, Administrator, Office of Price Administration, Washington 25, D. C. Dear Mr. Bowles t On behalf of Mr. Sccles, who is on a visit in the West, I want to thank you for your letters of October 6 enclosing a copy of your statement on pricing objectives in the reconversion period and a copy of the booklet on food prices. I shall see to it that the Chairman, on his return, is reminded of your luncheon suggestion, with lrfiich I know he will heartily agree. i Sincerely youra, (Signed) Elliott Thurston Elliott Thurston, Special Assistant to the Chairman. ET:b
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