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- / 7O She Honorable Carter M&nasco, Ohfidrmac, Coats! ttee on Expenditures In the Executive Departeasnta, House of itoprosontativss, Washington 25, D* C* Igy dear Mr. Chainaan* The Board has noted with approval the endorsement by the Comptroller General and by the Director of the Budget of reorganisation legislation without exemption of any Government agency or excepting the General Accounting Offloe. the Board desires to c a l l the attention of the Committee to the enclosed excerpts from the Board's Annual Report of 1938 easphattlfting the need for reorganisation of the Federal banking agencies, in view of the confusions and conflicts inherent in the existing diffusion of powers and authority in the Federal bank supervisory and regulatory agencies* the Board has long favored enactment of a reorganisation measure that would give the President a free hand, subject to Congressional approval, to i n i t i a t e necessary reorganisations in tii® Executive Branch* the Board had not previously requested and does not now wish exemption from the operation of such a measure* the Board, therefore, favors enactment of a reorganization b i l l wtiioh does not include exemptions, except for the General Accounting Office* Such a measure would make possible a reorganisation of the Federal banking agencies which the Board feels is urgently needed to meet the needs of the postwar world* Sincerely yours, Um S* Eccles, Chairman* Enclosure ETjb 2 194' The Honorable Patrick A- McCarran, Chairman, Committee on the Judiciary, United States Senate, Washington 25, I). C* ISy dear Mr* Chairman; She Board has noted with approval the endorsement by the Comptroller General and by the Director of the Budget of reorganisation legislation without exemption of any &overma©nt agency or dep&rtiaent, excepting the General Accounting Office. The Board desires to oall the attention of the Coraaittee to the enclosed excerpts from the Board's itomttfd Report of 192® emphasising the need for reorganisation of the Federal banking agencies, in view of the confusion® and conflicts Inherent in the existing diffusion of powers and authority in the Federal bank supervisory and regulatory agetseies* the Board has long favored enactment of a reorganisation measure that would give the President a tr&9 hand, subject to Congressional approval, to i n i t i a t e necessary reorganisations in the Executive Branch. The Board had not previously requested and does not now wish e x e r t i o n from the operation of such a measure. The Board, therefore, favors enactment of a reorganisation b i l l which does not include exemptions, except for the General Accounting Office. Such a measure would make possible a reorganisa* tion of the Federal banking agencies which the Board feels i s urgently needed to meet the needs of the postwar world. Sincerely yours, L S. Secies, Chairman. Enclosure ET:b
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