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THE LABOR BUREAU,

\i f r e d L . B e r n h e i m
o a r a B e r n h e im
S t u a r t C h ase
I „a T 3 R y n f e n n
S. B. l e w i n
F ^ELLE SHRIFTE
1GE SOULE
Jb.
^ÜEL STEIN
Norm an W are

In c .

M id d l e W e st La b o r B u r e a u
1 1 S o u t h L a S a l l e St r e e t , C h i c a g o

2 WEST 43D STREET, NEW YO RK CITY

P a c ific C oa st L a b o r B u rea u

525 M a r k e t s t r e e t , San F r a n c is c o
TELEPHONE, LONGACRE 5 -4 2 2 9
»2 7

May 22, 1936

Mr. M. S. Eccles
Board of Governors
Federal Reserve System
Washington, D. C.
Dear Mr. Eccles:
Thank you for the speech before the American Bankers
Association.

I thought it the most admirable summary of the

Administrations policy and the actual results achieved which I
have yet seen.




With best wishes,

Sincerely,