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NORTHWEST BANCORPORATION MINNEAPOLIS J. C. T H O M S O N PRESIDENT May 12, 1943 Honorable Marriner S. Eccles Chairman, ^oard of Governors Federal Reserve System Washington, D. C. Dear Mr. Eccles: It was a real pleasure to read the account in the Chicago Journal of Commerce on your testimony before the House Banking and Currency Committee in regard to bank holding companies, I am not only glad to hear you make the statement indicating a favorable opinion of most of the bank holding companies, but I appreciate your doing so. Not all public officials in commenting on problems take the trouble, or have the-courage, to say a good \>ord for those who are trying to manage business along proper lines. With all good wishes, I am Hay 17, 19U3 Mr. J* C* Thomson, President, Northwest Bancorporation, Minneapolis, Minnesota. Dear Ur. fhomson: This is to acknowledge your letter of Kay 12 in regard to my recent testimony before the House Banking and Currency Committee* One never knows when appearing as a witness before committees into what fields one may be led by the questioners* I was before the Committee ostensibly to explain why it was necessary to renew again the authority to pledge Government securities as collateral for Federal Reserve notes* Ur* Patznan took occasion, however, to press down very hard on the bank holding company question, among others, and since I have long held certain convictions on this subject, I could only when pressed reiterate them* I appreciate your comment and your courtesy in writing* Sincerely yours, 11* S. Bccles, Chairman. ETsb
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