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February 1, 1959

633 North ?th Street
Philadelphia, ftu
Dear Mr. Bng®l*
On behalf of Ch&irms. Beeles* I wish to acknowledge
your mo to of Jaau&ry 23 and to thank you for your interest in aad your axpresalon of approval of his speech before the Hatioaal !iadio forum.
Th@r# ar® no remll^ satisfaotory eetiismteB of national
wa&lth owing to th© isher«at difficulties in deteraiuing
the *rfel«© of rml aad p®rso»al property at fasy partioular
tim©« To giv@ joti aa idea of th© aft©aitwd©s imrol'wed, it
has been estimated that from a lev&l of #480,000*000,000
ia 1929 our amtioaal waaltti dropped to loss th®ii |S00 # 000,000,000 IM 1932, and at the present time ia soiaerwhore
in the neighborhood of #400,000,000,000•
Tery trt&y yotirs,

wren
Clayton
Assistant To ciairraaa