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(See Letter to President 5/26/'48 (Identical cepj* &£ original) He did not keep this on 4/16/48) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON April 16, 1S48 }ty dear Mr# President t In your letter of January 27, four days prior to bhe expiration of my term as Chairman of the Board of Governors, you requested me to remain as a member of the Board and to accept the Vice Chairmanship. In my reply of the same day, I stated that after careful consideration of your request I had decided to remain Y/ith the Board in the capacity which you suggested* Two and one-half months have elapsed since that time. The formal order designating the Chairman of the Board has been issued, but none designating a Vice Chairman. In view of the circumstances, I shall continue to serve as a member of the Board of Governors, but I wish to withdraw my name in case you are still considering designating me as Vice Chairman. Respectfully yours The President The Kttiite House
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