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1 Sears,Roebuck and Co. Executive Offices Chicago R.E.Wood President February 2nd, 1937, Hon. M. S. Eccles, Chairman, Board of Governors of the Federal Reserve System, Washington, D. C. My dear Mr, Eccles: If you have not seen the attached clipping from the Wall St. Journal, you may be interested in the views of Reginald McKenna presented therein. Very truly yours, This article is protected by copyright and has been removed. The citation for the original is: Wall Street Journal, “Reginald McKenna Views Future of British Trade Recovery Confidently; Holds Dangers Induced by Cheap Money Not Yet Apparent,” January 27, 1937, p. 5.