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EDW. C. COATES REALTOR HOME LOANS PHONE P. B o x 4 6 - GRANTS 116 SOUTHWEST J PASS, 2 513 STRICT OREGON February 12, 1951 Mr. I'arriner S. Eccles, Board of Governors Federal Reserve System, Washington, D. C. Dear Mr. Eccler: The citizens of this country have been writing their congressman In great numbers expressing their concern at the state of affairs in t'hifl nation. Perhaps you, as a member of our Federal Reserve Board would like to know what, we, the people in the smaller communities are thinking. We beg you to keep control of the powers invested In you. We note the pressure being applied by this Administration with alarm; for our leaders seem bent on destroying the monetary system.of this country. The hysteria coming out of Washington must make Stalin rub his hands in glee. He is accomplishing his ends without firing a shot. All he needs now is to b ankrupt this c oun try. We can only look to you and the other members of the Board to safeguard our currenc?/- and to stop this inflationary spiral. Yours sincerely, Edw. C. Coates ECG :ms February 21, 1951. Mr. Edward C. Coates, P. 0. Box 4-6, 116 Southwest J Street, Grants Pass, Oregon. Dear Mr. Coatesi It was very thoughtful of you to ta&e time to write me on February 15 • I always appreciate having the reactions of others, whether of approval or criticism, to my public utterances. I am glad to know* that I have your support and encouragement. In case you may be interested in reading it I am enclosing -herewith a copy of the statement which I made before0the Joint Committee on the Economic Report in its hearings on the President's Economic Program. Sincerely yours, M. S. Eccles. Enclosure.
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