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XCbe { U n i v e r s i t y o f C h i c a g o
C H I C A G O
37.
I L L I N O I S
Department ot ^economics
December 31, 1947
Honorable M a r r i n e r S. Eccles
Chairman, Board o f Governors o f the
Federal Reserve System
Washington, D.C.
Dear Mr. Eccless
I was very much i n t e r e s t e d i n t h e
newspaper accounts of your testimony before the
Committee on the Economic Report and o t h e r Cong r e s s i o n a l committees w i t h respect t o the i n f l a t i o n ary problem and p a r t i c u l a r l y your p l a n f o r a s p e c i a l
reserve f o r member bank d e p o s i t s . I f copies o f any
or a l l o f these are a v a i l a b l e , I should very much
l i k e t o r e c e i v e them.
I enclose a copy o f a recent U n i v e r s i t y
o f Chicago Round Table r a d i o broadcast on p r i c e s which
a t l e a s t t o some e x t e n t supports your p r o p o s a l .
W i t h b e s t wishes f o r the New Year,
Sincepely ;
1 encl
Roy Blo^gh
January 2 , 1948•
M r . Roy B l o u g h ,
Department o f Economics,
The U n i v e r s i t y o f C h i c a g o ,
Chicago 3 7 , I l l i n o i s .
Dear tor. b l o u g h :
AS M r . E c c i e s went n»est f o r t h e C h r i s t m a s
H o l i d a y s , I w i s h t o acknowledge y o u r l e t t e r o f
December 3 1 e n c l o s i n g a copy o f t h e hound T a b l e d i s c u s s i o n , w h i c h some o f t h e members o f t h e b o a r d and
s t a f f h e a r d and r e g a r d e d as a b s o l u t e l y f i r s t - r a t e ,
p a r t i c u l a r l y i n i t s educational values.
I n accordance w i t h y o u r r e q u e s t , I am e n c l o s i n g copies o f t h e f i r s t - s t a t e m e n t which Mr.
E c c l e s made b e f o r e t h e J o i n t Committee on t h e E c o nomic R e p o r t and a subsequent s t a t e m e n t b e f o r e t h e
House B a n k i n g and C u r r e n c y Committee w h i c h g i v e s
more d e t a i l s o f t h e p r o p o s a l .
On t h e C h a i r m a n f s b e h a l f , l e t me r e c i p r o c a t e y o u r k i n d w i s h e s f o r t h e New Y e a r .
Sincerely
yours,
E l l i o t t Thurston,
A s s i s t a n t t o t h e Chairman.
Enclosures 2
ET:b
XTbe U n i v e r s i t y o f C h i c a g o
C H I C A G O
37.
ILLINOIS
Department of Sconomice
J a n u a r y 1 2 , 1948
Mr. E l l i o t t Thurston
A s s i s t a n t t o t h e Chairman
Board o f Governors o f t h e
F e d e r a l Reserve System
W a s h i n g t o n , D.C.
Dear M r .
Thurston:
Thank y o u f o r y o u r k i n d l e t t e r
o f J a n u a r y 2 and f o r t h e c o p i e s o f t h e
s t a t e m e n t s made by M r . E c c l e s w h i c h I f i n d
v e r y i n t e r e s t i n g and e n l i g h t e n i n g .
Sineeraky
Roy Bl6bui
yours,
@FedFRASER