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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