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BDARD DF GDVERNDRS DF THE FEDERAL RESERVE SYSTEM WASHINGTON 25. D. C. ADDRESS OFFICIAL CORRESPONDENCE TO THE BOARD July 14, 1945. AIR MAIL - SPECIAL DELIVERT Mr. Marriner S. Eccles, c/o Ben Lomond Hotel, Ogden, Utah* Dear Mr* Eccles: Since you left the suggestion has been made that in further discussions of the proposed action on the preferential rate it would be iielpful if the Board had before it a statement of the reasons for the action, and Mr. Piser was requested to prepare a draft of such a statement. Mr. Thomas has written a substitute draft, and at Mr. Ransom's request a copy is enclosed. There is also enclosed a copy of a summary prepared by Mr. Piser of the replies received from the Federal Reserve Banks to the Board1s telegram. A meetipg of the Board will be held at 3s 30 p.m. on Monday, July 16, (Mr. Sgymczak will not return from Chicago before then) for a further discussion of the preferential discount rate matter, and Mr. Ransom has asked me to say that he will call you on the telephone around noon Ogden time on Monday, July 16, and he will appreciate it if you can read the two enclosed memoranda before that time. This is a good time to be in Utah, and I assume you are enjoying it immensely. Say hello to the Wasatch Mountains for me. Sincerely S. #. XJwpenter, Secretary. CTORY Enclosures. BUY
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