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Earch 5 , 1945 Honorable B r e n t Spance* Chairman, Banking and Currency C o c o i t t e e , House o f R e p r e s e n t a t i v e s , W a s h i n g t o n , B * G« B e a r 36r. C h a i r m a n * ¥hen I t e s t i f i e d b e f o r e your Committee t h i s saow&ng, I was a s k e d b y Kr* Smith o f Ohio, t o p u t i n the Record a f i g u r e o f the total holdings t y c o w e i v d i a l banks o f d i r e c t o b l i g a t i o n s o f the United S t a t e s Govermosnt, a s v e i l a s o b l i g a t i o n s guaranteed by the Gorerawmt. Ibe b e s t e s t i m a t e we can g e t a s o f B e c e a b e r 3 L , 1 9 4 4 * i e $77,500,000,000* H o l d i n g s o f U n i t e d S t a t e s G w e r a j a e n t o b l i g a t i o n s fcy t h e F e d e r a l B e s e r r e B a n k s o& t h e s a m e d a t e w e r e f l & # S O 0 y O O O t O O Q * ?eiy truly yours, & S , Eccles, 0bairs8an*
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