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I l I. A. METZ, Owner STREET P H O N E 2-1 3 4 3 • • • • PARTS A N D P. COMMERCIAL REFRIGERATION AIR C O N D I T I O N I N G HEATING AND VENTILATING JACKSDN, SUPPLIES BOX 1 D 4 4 MISSISSIPPI Oct* 1, 1941 Hon* Marriner S # Eccles, Federal Reserve Board Washington, D # C. Chm* Dear Sir: Kindly accept my congratulations upon your stand against inflation* If the enclosed news item reflects your views and policies, and they are made to work — the vicious circle of i rflation can be "broken NOW* ^ g G$ What we need now is less subsidies and more self-rellance» In fact, the Federal Government should get away from all farming subsidies, W*P,A» and other similar activities» There is less co rfidence in commercial business enterprise today than ever. ^ p 0 ^ hQ Alsoy I know from previous experience, that all of the banking failures of theSouth were due to inflation we had during the last World War, due to loans on land and other equities at inflated values» ^ I hope you, Mr» Morganthau and others will be able to stop this inflation movement before It get too much of a hold — altho1 Judging from current speculative markets, the speculator doesn f t think the price situation can be controlled» -g § | u £ Th e public may think they benefit from higher wages, rent, food prices, e^fc., but to my knowledge of many years, ONLY THE OATBLER (SPECULATOR IN FUTURES) IS BENEFITED AT THE EXPENSE OF THE CONSUMER AND EVENTUALLY THE PRODUCER» Js ^ If you want http://fraser.stlouisfed.org/ an official Federal Reserve Bank of St. Louis Yours very truly, I. A. MEjSl to see who is making inflated prices — Just make announcement that stocks of cotton and grain owned ^ October 8, 1941. Mr. I. A. Metz, allied bales & Supply Company, P. 0. Box 1QUA, Jackson, Mississippi. Dear Mr. Metz: This is to acknowledge receipt of your letter of October 1 and to thank you for your comments in regard to the efforts being made to combat inflationary developments. I had not previously seen the clippings which you kindly enclosed, and I appreciate your interest and youi; courtesy in writing to me. bincerely yours, M. S. Eccles, Chairman. ET cm