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FIRST

AMERICAN

NATIONAL

BANK

FORMERLY

The American National Bank
Naslrville 3, Tennessee
P A U L M. D A V I S
CHAIRMAN

February 14, 1951•

Mr. M. S. Eccles
Board of Governors
Federal Reserve System
Washingtonj D. C.
Dear Mr. Eccles:
Tharik you very
Department of Economics of the
have read with a great deal of
been greatly disturbed by this
cannot see any solution and am
been done.

much for the statement by the
University of Chicago which I
interest. Naturally, I have
whole situation, and, frankly,
afraid too much harm has already

I expect to be in Washington for the meeting
next week and trust I may have the pleasure of seeing you at
that time.




Sincerely yo