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Arlington, ¥a*> Dee, 26? 1933. Mr. M a r i n e r S# Bodes,Washifigtoa, £»•! 0.: Bear S i r : Your reesat letter to Senator Byrct,- as quoted in the press to-day, shows- that you are hopelessly muddled in your views on economics aai ttie Sovsrnments fiscal policies, • and that yen are not qualified for any position of responsibility in the Scverament* It is becaasa we hme B O many *eraekpots* in" important gCTermentai poeitioos who ncld •'cockeyed* views of economic ami social probleas, that business is kept constantly m a stew, investors are afraii to invest their money,- aa4 business recovery is delayed. Recovery is long overdue, but it will not cose until confidence is restored-——confidence of the investing class in ttxe safety of %mlr investments* ted tnis confidence will not ba restored so long as we ba?a "crackpots" in a position to do harm . It will actfasrestored oy such pronouncements as that which you .have just made in year letter to Senator Byrd* jPhe unemployed will not; find jebs until capital goes tc work. And capital cannot be expected to go tc work until its confidence is restored,* Ths way to help business is to help busiaess.
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