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Los Angelea, California December 31, 1933 Mr # Marriner Secies, Chairman of Federal Reserve Board, Washington, D, C* Dear Sir: If possible, please send me a copy of the letter you recently sent to Senator Byrd, in which you developed the general idt« that under present circumstances, if the Federal Government reduced its expenditures enough to live within the taxes received, a considerable new depression would follow* This is the letter that is receiving so much attention in the press just now* I would like to read your original letter to the Senator on this subject, and have it in my files, and for this reason I will thank yoti for kindly supplying me with a copy* Please mail it to me at my address indicated below* Very truly yours, Address: Robert A* Steps, 340 North Martel Ave, Los Angeles, California* January 7, 1939 • Mr. Robert A, Steps, 340 North Martel Los Angeles, California, Dear Mr* Steps: Chairman Eccles recjuested me to acknowledge receipt of your letter of December 31st • In accordance with your request, I take pleasure in enclosing a copy of the full text of his ©ply to Senatorfcyrdas well as a^ copy of the Chairman's recent address in New lork which was the subject of the Senator1s criticism. Sincerely yours, Elliott Thurston,# Special Assistant to the Chairman. enclosures ET:b in Office
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