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February 7*
Dear Bob:
Because of the long courageous battle you have waged for
better housing for the xaasses of the American people and the support you have invariably given to moaeures safeguarding the aeoncqy
frcei inflationary pressures during the war and i t s afteraath, I as
taking the liberty of sending you tills personal note. What prompts
i t i s iay desire to remove any possibility of jaisunderstanding so
far as we are concerned in connection with S. 1598*
While X share completely the views expressed by the Board
to the effect that enactment of this measure at this time would
tend to intensify inflationary pressures, 1 know that your sponsor*
ship of the b i l l i s based on long-range considerations and represents again your earnest desire to provide appropriate legislation,
particularly in the interest of lower-income faid, l i e s .
the Inflation problem is an immediate and transitory one,
though of indefinite duration. To the extent that we f a i l to deal
effectively with i t , i t will greatly complicate and make saore difficult the future problem of maintaining f u l l production and employment. I t Is for that reason that the Board believes, as I do, that
prudent policy at this stage calls for postponement of measures,
however desirable from a long-range standpoint, which would intensify desaand at a ti&e when supply i s so vastly inadequate as a
result of the war.
Always with best regards,
Sincerely yours,

the Honorable Bobert F. Wagner,
United States Senate,
Washington, D. C.