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AMERICAN FEDERATION or LABOR Executive Council P r e s i d e n t , WILLIAM GREEN S e c r e t a r y - T r e a s u r e r , GEORGE MEANT A. P. of L. Building, Washington, D. C. Seventh Vice-President, HARRY C. BATES, First Vice-President, WILLIAM L. HUTCHESON, 815 Fifteenth St., N. W., Washington, D. C. Carpenters' Bldg., Indianapolis, Ind. Eighth Vice-President, W. D. MAHON, Second Vice-President, MATTHEW WOLL, 11th Floor, 1214 Griswold St., Detroit 26, Mich. 670 Lexington Ave., Mew York, N. Y. Ninth Vice-President, FELIX H. KNIGHT, Third Vice-President, JOSEPH N. WEBER, 400-403 Carmen's Bldg., Kansas City, Mo. 621 Alto Drive, Beverly Hills, Los Angeles, Calif. Tenth Vice-President, EDWARD FLORE, Fourth Vice-President, G. M. BUGNIAZKT, 422 Sidway Building, Buffalo, N. Y. 1200 Fifteenth St. N. W., Washington, D. C. Eleventh Vice-President, HARVEY W. BROWN, Fifth Vice-President, GEO. M. HARBISON, Machinists' Bldg., Washington, D. C. Railway Clerks' Bldg., Cincinnati, O. Twelfth Vice-President, W. C. BIRTHRIGHT, Sixth Vice-President, DANIEL J. TOBIN, Delaware at Twelfth Street, Indianapolis, Ind. 222 East Michigan St., Indianapolis, Ind. Thirteenth Vice-President, W. C. DOHEKTY, 408 A. F. of L. Bldg., Washington, D. C LONG DISTANCE TELEPHONE NATIONAL 3 B 7 Q - 1 - 2 - 3 - 4 CABLE ADDRESS AFEL. March 9, 1945 Mr. M. S. Eccles, Chairman Board of Governors of the Federal Reserve System Washington 25, D. 0. Dear Mr. Eccles: I thank you for the copy of the full text of a statement which you gave out recently regarding the capital gains tax proposal which you dealt with a short time ago when you met with the members of the Senate Banking and Currency Committee. I was interested in this matter when you dealt with it in a mosb interesting way when we were in attendance at a meeting of the Economic Stabilization Board a short time ago. Because of my deep interest in this subject, I will read your statement with deep interest. Very truly yours, President, American Federation of Labor ds