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FEDERAL ADVISORY COUNCIL O F F I C E R S EDWARD (FEDERAL N . B A X T E R J A C K S O N , DIRECTOR c / o T H E FIRST N A T I O N A L B A N K O F C H I C A G O F R E D E R I C A . P O T T S . DIRECTOR P. O. B . C O N G D O N . DIRECTOR H E R B E R T V. P R O C H N O W . M E M B E R S — I 9 SO SYSTEM) OFFICE O F THE SECRETARY R O B E R T V . F L E M I N G . VIC£*l»MCSlDENT SIDNEY RESERVE WALTER E . B R O W N . PRESIDENT BOX A CHICAGO 90. ILLINOIS SECRETARY S. B U C K L I N , N. BAXTER JACKSON. DISTRICT NO 1 DISTRICT NO. 2 FREDERIC A. P O T T S , DISTRICT NO. 3 SIDNEY CONGDON. B R O B E R T V. F L E M I N G , DISTRICT NO. 4 DISTRICT NO. S J. T . B R O W N , DISTRICT NO. 0 EDWARD E. B R O W N , DISTRICT NO. 7 W . L . H E M I N G W A Y . DISTRICT NO. 8 J O S E P H F . R 1 N G L A N D . DISTRICT N o . 0 D A V I D T . S E A L S . DISTRICT NO. 10 J. E. W O O D S , DISTRICT NO. t l J A M E S K. L O C H E A D , DISTRICT NO. 12 c/o Riggs National Bank, Washington, D. C * February 12, 1951 Honorable Marriner S. Eccles, Board of Governors of the Federal Reserve System, Washington, 25$ D. C. Dear Marriner: Please accept my thanks for your favor of February 7, enclosing statement by the Department of Economics of the University of Chicago, entitled "The Failure of the Present Monetary Policy I appreciate your sending this to me and will be glad to read the statement carefully. Thanking you for your thoughtfulness, I remain 'vice President, Federal Advisory Council
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