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* C 0 | P Y HUiViE FUHNITUKE H&U APPLIANCE CO. Leo H. Jacobs, Proprietor 5U i^a^e btreet, 6t. Albans, Vt. Telephone 14 January L2, 1949 Marriner C, Eccles, Federal aoard of deserve, Washington, D. ^. jJear Mr. Eccles: it nas become habitual £>r me to write you, as in the past for reasons that x always nad great admiration in the way you administered the rules and Dowers invested in YOU when you n^d the entire freedom to do so. I have read wiere the auto industry is protesting in econnection with regulation W in. its present form, and would like to nave it revised and payment time prolonged. To this I feel very much opposed, for reasons why an exception snoula be i^de in their case. If trie present structure of the regulation is tampered with, it will produce dangerous results and the country will find itxelf in a worse mess ttian exists today. All the available money wiix flow into the above industry and others such as shoes textiles furniture durable goods and even food dealers, wi.ti suffer t-iereby and tnis in return will create an element of unemplo ymerfc, that will endanger the economic structure of the country. If the regulation was not lifted at the time it,was, * would not iave found ourselves quite as bad off as at trie present time for it gave many the opportunity to ruoh in to busy and get in debt, and now when tae payoff is nere many are dizzy and know not which way to turn, and ta^e care of their deots. The auto industry is one that in the past nas enjoyed exceptional business, and profits and no fear of Iailing, and as we look around we find tnousands of other Dusmess falling oy the wayside for many reasons ana some beyond taeir control. If tae regulation on autos is eased up many will just wweat to pay for tne c r, evade their debts and deprive t.ieir homes and and family the things they are in aire need of, and just at this particular time when tne earning power is not longer tnere and tne country has to go through a period of adjustmentl c Applying the present regulation to my own business, I feel real satisfied, as it acts as a safeguard, and avoids dangerous credits arid lossess, and 1 am one hundred percent for it. -2The xarge operator and department store is not complaining about the present position of reg. •• and the small ieiiow ought to L>e thank iul for it supplies working capitol and lessens creait lossess. -L respect .regulation «* for it has Deen one of the most nelpfux and sane pieces of legislation enacted in modern times and trust that its life will be proi'ionged to such time when conditius are oacK to normal, and we c-nn see the light of a uei/w era. Sincerely yours. ;. Jacobs ( c c January 31» 1949 Mr. Lao M* Jaeob*, P r o p r i e t o r , Furnltttre and AppllftJiee C o . , 0«*r Kry Jaoobat Tfcaak yo\a for yo«r l«ttar of Mmmry 12 oone«raing th® r»g«latloa is sirable and your opposition to iaawdi&ta rolaxation as proposed by awoiy a«t»oaiobil« d«al«rs ar« lnt^r*s%infr isideacU Tour opinion will be oonsidared in oar oontinuiag stfjdy of tii# «ubj#ot« yours, M* S* Eooles DMLtfkw
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