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B u s in e s s a d d r e s s : R ALPH B. SM ITH M YRTLE A. SM ITH 912 NORTH O AK LITTLE ROCK, ARK. OW NERS LEO N T. SM ITH, ASST. R ABBIT RIDGE FARM S ELM ER . MO. and K NO BEL. ARK. H o t . 29, 1947 Hon. Marriner S. Eccles Gov. Federal Reserve Board ffashington, D .C . My dear Mr. Eccless This writer just wants to congratulate you for offering the best ideas for solving our present tragic economic problems of any Government leader giving advise to Congress. Surely most intelligent thinking folks must know that in a democracy the government must find practical solutions forsolving or controling both deflation and inflation. This writer sat at the feet of Dr. Davenport in 1911, and has studied economics every since^ and it is his opinion that America never was in greater danger, not even during wars, than today. I was one of the first Mew Deal victims of reaction and believe that America must find another Roosevelt ©i* Lincoln mighty quick . I suppose you thought it not expedient to ask for the replacement of excess profit taxes. I do not think you are right about about the agriculture problem, Bor here we need consolidation of agriculture services to eliminate thousands of needless administrative positions; but not to eliminate conservation. It makes my heart ache every time I drive through the lake regions of Missouri and compare it to the great integrated developments of the TV'A region. We are putting out our tax mux^y to develop TVA’ s in foreign lands while we sabotage and propogandize against them at home. Injpite of this you have the best suggestions offered.Congratulations! j State Supervisor of Vocational Agriculture in Arkansas 1919 to 1939 December 5» 1%7* Mr. -Ralph B. ^mith, 912 North Oak, Little ^ock, Arkansas. Dear Mr. Smiths Your letter of November 29 commenting on my recent testimony is very much appreciated. I was interested to have your comments and am encouraged by your generous references. The press necessarily could give only a very brief account of my testimony and because of your interest I am venturing to enclose a copy of the full text. Sincerely yours, M. £>. ^ccles, Chairman. Enclosures 2 ET:b
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