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NATIONAL ASSOCIATION OF REAL ESTATE BOARDS 1737 WK» S t r e e t , H. W. Washington, D. C. Jtine 8 , 1945 HERBERT U. NELSON EXECUTIVE VICE PRESIDENT 2 2 WEST MONROE ST. CHICAGO 3 Mr. Marriner Eccles Chairman, Federal Be serve Board Constitution Avenue "between 20th and 21st Streets, N.W. Washington, D. C. Dear Mr* Eccles: I have "been trying to get an appointment with you to discuss a rumored proposal that you are advocating veiry large down payments as a method of curtailing credit in real estate sales* I very much want to see you and talk about this. I think I can show you some figures that will "be of interest and that will be persuasive of the fact that the real estate market is tapering off} y and in many cases actually has receded markedly. Haturally, we feel that if any such order as suggested is to "be signed "by the President, we want a full and fair opportunity to "be heard and to present the facts. This has "been done in the case of every other wartime regulation, including rent control. In this matter we were not only consuLted "but actually helped to draft the regulations so as to make them workable. I will ring your office again and hope that I may see you Monday or Tuesday. Sincerely, scutive Vice President
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