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25

March 5, 19U5-

Honorable Elbert D. Thomas,
United States Senate,
Washington 25, D. C.
Dear Senator:
It occurred to me that you might be interested
in seeing the full text of the statement which I gave
out to olarify the proposal which I made when unexpectedly questioned recently at Banking and Currency Committee
hearings in regard to the inflationary dangers affecting
capital assets, particularly farms and homes.
Because I know you are interested in the subject, I am taking the liberty of sending this to you,
together with a copy of a rather remarkable letter I
received from an army sergeant in connection with this
proposal*
Sincerely yours,

M. S. See 1 es.
Chairman.

Enclosures 2

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March 5, 19U5-

Honorable Claude R. Uickard,
Secretary of Agriculture,
Washington 25, D. C.
Dear Claude:
Because of your interest in the matter, it
occurred to me that you might wish to see the full text
of a statement whioh I gave out to correct the widespread misunderstanding as well as misrepresentation of
the special wartime capital gains tax proposal which I
advocated whan I was unexpectedly questioned recently
by members of the Senate Banking and Currency Committee
as to what oould bo done to curb the inflationary rise
in the prices of homes, farms, stocks, and other capital
assets.
Accordingly, I am enclosing a copy for your
information, together with a copy of a most illuminating letter I received from an arny sergeant in this
connection.
Sincerely yours.

Enclosures 2

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Identical letter sent to all members of the Economic
Stabilization Board, with the exception of Judge Vinson
and Mr. Bell, to -whom letters were sent on 3/2^4-5«




25

March 5, 19U5-

Honorable Fred L. Crawford,
House of Representatives,
Washington 25, D. C.
Dear Freds
I am taking the liberty of sending you a oopy
of a statement I hare issued in order to olear up vide»
spread misunderstanding about the special wartime capital gains tax which I suggested when I was unexpectedly
questioned on this subject in the course of the hearings
recently before the Senate Banking and Currency Committee on the gold reserve requirement bill*
1 would not bother you with this except that
I know how deeply interested you are in the whole subject of controlling these inflationary dangers, which
particularly threaten the unprotected areas of capital
-values, especially farms and homes. Enclosed also is
a oopy of a rather striking letter I received from an
army sergeant, which you might also be interested in
reading.
Sincerely yours.

Enclosures 2

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25

March 5, 19U5-

Honorable Abe Ifurdook,
United States Senate,
Washington 25, D. C.
Dear Abe:
As you will recall, I was unexpectedly questioned, vhen
before the Banking and Currency Committee recently, about what could
be done to stop the inflationary rise of capital values, particularly
of farms, homes and stooks. Inasmuch as my proposal of a speoial
wax-time capital gains tax was widely mi sunderstood and misrepresented,
I decided to give out an explanatory statement, copy of which I am
enclosing because I thought you might be interested in having the
full text for I know of your concern with this entire subject. I am
not taking the liberty of sending the statement to members of the
Committee generally, but only to those who indicated a special
interest in the matter.
I am also enclosing a copy of a rather remarkable letter
on this subject which I received from an army sergeant*
Sincerely yours.

Enclosures 2

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25

March 5, 19^5

Honorable Robert H. Hinckley,
Director,
Office of Contract Settlement,
Washington 25, D. C.
Dear Bob:
Because I know you are interested in and concerned about the matter, I am venturing to send you a
copy of a statement I decided to give out explaining why
I feel it is so essential to put 6 n a stiff wartime
capital gains tax to curb the speculative activity in
farms, homes, stocks and other capital assets*
I am also enclosing a copy of a most striking
letter I received from an army sergeant in this connection.
Sincerely yours

Enclosures 2







25

March 7, 19l¿5-

Mr. Reuben A. Lewis, Jr.,
Editor and Publisher,
Finance Magazine,
608 South Dearborn Street,
Chicago 5, Illinois.
Dear Hube:
I thought in your issue of February 25
you presented very succinctly and ably the highlights of the Chairman's testimony on bank holdings of securities, interest rates, and the capital
gains tax suggestion which, like so many expedients,
is not all black or white, but one of those
alternatives you have to weigh carefully. It occurred to me you might not have seen the subsequent
statement he put out on this latter subject and I
am, accordingly, enclosing a copy.
With best regards,
Sincerely yours.

Enclosure

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