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THE DIRECTOR

GENERAL

PAN A M E R I C A N

UNION

W A S H I N G T O N , D. C.

October 1,

My dear Mr. Chairman:
Permit me to extend to you most
cordial congratulations on your admirable
testimony before the House Consnittee on
Banking and Currency»

Your statement will

contribute much to the enlightenment of public
opinion*
Very sincerely yours,

L. S. Boire
Director General

Honorable Marriner S. Eccles,
Chairman, Federal Reserve Board,
Washington.