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PRIVATE OFFICE OF RICHARD SEARS 10 STATE STREET BOSTON TELEPHONE CAPITOL 7528 Dec. 2 8 , 1938 llariirxer S. Eccles, Esq., Chairman Federal Beserve Board, Washington, D»C, Dear S i r , In the Boston Herald of Dec. 26th, I take extreme issue with you on what you state in reply to Harry P. Byrd* There has teen most contemptible and despicable waste in the New Deal since this administration has come into power all along the line and I will give you an example of one case which has annoyed me very much. Two years ago there was a sidewalk "built "between Ipswich and Hamilton down near my country place and from close observation I found the workers on the 7/.P»A* did not work half of the time and very often they were smoking and talking. walk in the first place was a perfect waste Building the sideas I checked up and found that not more than 25 people walked on it from June 1st to Sept. 1st. and so you can see for yourself what a ridiculous waste it was and the taxpayers throughout the country have to pay for it. The expenses so far from Jan. 1st. of the WPA are |93,500,00o,QDC Chairman Harrison himself says that high taxes have been one of the leading forces in checking industrial advancement and the development of the country and of course anyone who uses his brains can see that. Many of us have been extremely angry with t he doings of the present government and if it continues http://fraser.stlouisfed.org/ much Federal Reserve Bank of St. Louis longer there will be a stagnation of business* PRIVATE OFFICE OF RICHARD SEARS 10 STATE STREET BOSTON TELEPHONE CAPITOL 7528 -2- The national debt now is nearly forty "billions and how in the do world/you expect that to " e paid, l>ut it has got to * e paid b b sometime* I would like to throw the whole W.P..A* into the Atlantic Ocean and have this country start new with a more careful set of men in the government* Kindly let me hj*€r from Very truly yours,i January 3, 1938. Mr* Richard Sears, 10 State Street, Boston, Massachusetts. Dear Mr. bears: Tnis is to acknowledge receipt of your letter of December 28th with regard to my recent reply to Senator Byrd of Virginia. One of the difficulties of public discussion is the impossibility within the limited space of addresses, letters, etc., to cover adequately large and complex problems. I was endeavoring to discuss general economic questions, realizing that there are many instances, such as the one you cite, of relative waste or at least inefficient expenditure. You and I would have no issue on instances of this sort or, for that matter, on questions of policy or of taxation which have the effect of discouraging private business activity. None of us relishes having so large a national debt, and my concern is exactly the same as yours. However, v.here we would doubtless disagree is over the question of how national income may be raised to a point at which there would no longer be any need or justification for increasing that debt. Since you have taKen the trouble to write, you might be interested in looking over the text of r y address a in New York iwhich was the subject of the Senator's attack, as well as the full text of my reply, which was longer than could be covered adequately in the press. I am, accordingly, enclosing copies lor your information. Sincerely yours, i. S. Eccles, Chairman. enclosures ET:b