The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
A .H .E C K L E S , P r e s i d e n t W. E . K E IT H , V i c e P r e s i d e n P H IL E. C H A P P E L L , C a s h i e r H A L W . JO H N S O N , A s s t .C a s h i e r t Nov« 25,1935. Hon. Ila r r in e r S . S o c le s , G overn or F e d e ra l R eserve B o a rd , W a sh in g to n , D. C. D ear Governors I enjoyed v e r y much m aking th e p e r s o n a l a c q u a in ta n c e o f y o u , and a ls o y o u r B ro th e r, George a t th e New O rle a n s Co n ven tion * What I s a id t o yo u i n p e rso n , I w ish to re p e a t i n t h i s l e t t e r , and t h a t i s t h a t you d i s t i n g u is h e d y o u r s e lf i n th e p o s i t i o n you have ta k e n on the B a n k in g problem s i n t h a t ad dr e s s ,n o tw ith s ta n d in g th e f a c t t h a t you devoted v e r y l i t t l e tim e t o tiie 1935 B a n k in g Act» I was v e ry proud o f you and I have d is c o v e re d by t a l k i n g t o many B a n k e rs, a f t e r y o u r a d d r e s s , t h a t you had made many f r i e n d s among them* I t h i n k t h a t th e a c com plishm ents t h a t ’ h ave been made by th e A d m in is t r a t io n and e s p e c i a l l y th e s e r v ic e s ren dered th e Banking f r a t e r n i t y , were u n a n sw e ra b le . I have re c e iv e d a copy o f th e a d d re ss o f Mr* L e w is H* Brovci, P r e s id e n t o f J o im s -M a n v ille C o r p o r a tio n , a n d I am v e r y munh in hopes t h a t you a re g o in g t o d i s t r i b u t e the a d d re s s you made b e fo r e th e B a n k e rs, and you w i l l p le a s e p u t me on th e m a ilin g l i s t , I am s o r t i n g a s D i r e c t o r o f th e F e d e ra l Re s e rv e Bran ch Bank a t L o u i s v i l l e and q u it e n a t u r a l l y am in t e r e s t e d i n the F e d e r a l R e se rv e B o ard and a l l th e o p in io n s h e ld by yo u , and a t any t i a e yo u a re m a ili- ig o u t i n f o m a b io n t h a t w i l l be a v a i l a b l e to th e D ir e c t o r s o f th e F e d e ra l R eserve Bail]:, I w i l l be o f c o u rse p le a s e d t o have t h a t i n fo rm a tio n * November 29, 1935* M r. A. H. E c k le s , P r e s id e n t , P la n t e r s Bank and T r u s t Company, H o p k i n s v i lle , K en tu cky. My d e ar M r. E c k le s : I have y o u r l e t t e r o f November 25th and r e c a l l th e p le a s u r e o f m e e tin g you d u r in g th e New O r le a n s co n v e n tio n . Y ou r comments on my speech a re h i g h l y g r a t i f y i n g . I n case you m ight care t o have i t , I am e n c lo s in g a t r a n s c r i p t a s ta k e n down by th e c o n v e n tio n ’ s ste n o g ra p h e r. A few c o p ie s h ave been d i s t r i b u t e d , a t th e s u g g e s t io n o f members o f th e B o a rd , t o th e re s e r v e b a n k s, and a t y o u r s u g g e s t io n , f u r t h e r c o p ie s a re b e in g m a ile d a l s o t o th e b ra n c h e s, so t h a t t h e i r o f f i c e r s and th e d i r e c t o r s who may be in t e r e s t e d , l i k e yo u r s e l f , may have them. Y our name h as been added t o th e m a i li n g l i s t so t h a t i n th e fu t u r e you w i l l r e c e iv e in fo r m a t io n o f t h i s o r s i m i l a r s o r t w hich may be o f i n t e r e s t . P e rm it me to r e c ip r o c a t e y o u r good w ish e s and t o e x p re ss a g a in my a p p r e c ia t io n o f y o u r l e t t e r . S in c e r e ly y o u r s , M. S . E c c le s , Chairm an. enclosure E T :b A .H .E C K L E S , P r e s id e n t W . E . K E I T H , V ic e P r e s id e n t P H IL E . C H A P P E L L , C a s h i e r H A L W . J O H N S O N , A s s t .C a s h i e r DdC* 4 | X 9 3 5 * H on, M . S . E c c l e s , Chairm an, F e d e r a l Reserve B o a rd , W a sh in g to n , D . C . D e a r M r. E c e le s : I acknow ledge r e c e ip t o f y o u r l e t t e r o f th e 2 9 th U l t . , a l s o a copy o f y o u r a d d r e s s a t th e B a n k e rs C o n v e n tio n in Hew O rle a n s, and f o r b o th o f w h ich p le a s e acc e p t my t h a n k s , I have r e -r e a d the speech and w is h t o a g a in con g r a t u la t e yo u , I note i n t h i s m o rn in g *s p r e s s th a t the s u b s c r ip t i o n to th e Hew Government I s s u e s have been o v e r s u b sc r ib e d 4 -1 / 2 t im e s . It would ap p e ar t h a t th e B an k e r who was r e c e n t ly honored by th e A . B . A . , and who recommended t o th e B an k e rs o f th e C o u n try t h a t they b o y c o tt Government I s s u e s , d i d n o t make much im p re s s io n on th o se who h eard him . In m e d ia te ly a f t e r your a d d re ss I in q u ir e d o f a f r ie n d o f m ine, who i s a R e p u b lic a n and who was P r e s id e n t o f the In d ia n a B an k e rs A s s o c ia t i o n l a s t y e a r, how he l i k e d y o u r "New D e a l* speech. H i s r e p ly was, " E c k le s , I am a R e p u b lic a n , b u t I want t o endorse M r . E c c le s ’ speech^ and I am g o in g back home and. p u rch ase some more Government B o n d s*. E v id e n t ly you made th e same im p r e s s io n upon many b a n k e rs, and a s p r a c t i c a l l y eve ry bank o f any s iz e i n the U n ite d S t a t e s was re p re se n te d a t the New O rle a n s C o n v e n tio n , I am p e r s o n a lly a t t r i b u t i n g th e la r g e s u b s c r ip t io n t o th e Is s u e s , to your ad d re ss* I am p le a s e d t h a t y o u a re s e n d in g c o p ie s o f th e s te n o g r a p h ic t r a n s c r i p t t o a l l th e M anagers and D ir e c t o r s o f th e B ra n ch Banks o f th e F e d e r a l Reserve System . I w ish th a t i t was p r a c t i c a l t o p u t a copy o f i t i n th e hands o f e ve ry b an ker in th e % i t e d S t a t e s , bu t I r e & liz e t h a t i s a v e r y la r g e u n d e rta k in g t o send out 16,000 c o p ie s . P H IL E . C H A P P E L L , C a s h i e r H A L W . J O H N S O N , A s s t .C a s h i e r A.H . ECKLES, P r e s i d e n t W . E.KEITH,V i c e P r e s i d e n t #2. I f you have a sp a re copy I w ish you w ould p le a s e m a il i t to Mr» W .T. Tandy, P r e s id e n t o f th e F i r s t - C i t y Bank St T ru st Company o f t h i s c i t y , who i s a f r i e n d o f mine» A g a in th a n k in g you and w it h co n tin u e d good w ish e s f o r y o u r COPY OF LETTER OF TRaNSMITTa L TO Mr. W. T. TaNDY Chairman xxxxxxx December 9> 1935« Ur. fc» T. Tandy, President, First-City Bank and Trust Company, Hopkinsville, Kentucky* Uy de&r Ur. Tandy: At the request of Ur. H* Eckles, I am enclosing a stenographic transcript of the address which X made before the American Bankers Association convention in New Orleans on November 14th. Very truly yours, enclosure U. S. Eccles, Chairman
@FedFRASER