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PERSONAL AND CONFIDENTIAL

February 14* 1949.

Dear B i l l :
I n connectio n w i t h our conversation when you were
i n Washington week before l a s t I am enclosing p h o t o s t a t i c
copies o f a r t i c l e s w r i t t e n by Mr* L e s l i e Gould covering the
Transamerica hearings, as w e l l as copies o f the r e p o r t i n g
o f the same hearings i n the New York Times, The contrast
i s s t a r t l i n g , t o say the l e a s t , between the impersonal
o b j e c t i v e accounts i n the Times and the p a r t i s a n biased
d i a t r i b e aimed a t ae i n Gould 1 s columns. When I saw you I
hadn't met Gould. I had a b r i e f t a l k w i t h him when he
appeared a t the hearings which convinced me t h a t he i s so
biased t h a t he i s not i n t e r e s t e d i n f a i r n e s s and t r u t h .
Nevertheless, i f you t h i n k t h a t i t would be advisable, I
would be w i l l i n g t o l e t him i n t e r r o g a t e me i n your p r e s ence and l e t you be the judge.
I n any event, I appreciate your i n t e r e s t i n the
matter.
With k i n d e s t personal regards, I am
S i n c e r e l y yours,

M. S. Eccles
Enclosures
Mr. W i l l i a m Randolph Hearst, Jr,
Hearst Corporation,
E i g h t h Avenue and 57th S t r e e t ,
Hew York, New York,




959

OFFICE o r THE PUBLISHER

EIGHTH AVE.

February

NEW YORK

19,N.Y.

1 8 , 1949

COLUMBUS 5 - 7 3 0 0

M r . H. S. E c c l e s
Board o f Governors
F e d e r a l Reserve System
Washington, D. C.
Dear M a r r i n e r :
I have y o u r l e t t e r w i t h e n c l o s u r e s ,
I b e l i e v e M a r r i n e r , you have l o s t s i g h t o f one f a c t ,
and t h a t I s t h a t t h e a r t i c l e s f r o m the Times are news
s t o r i e s , w h i l e L e s l i e Gould 1 s column r e p r e s e n t s
o p i n i o n . We t o o r a n A s s o c i a t e d Press and U n i t e d Fress
f a c t u a l accounts o f t h e t r i a l .
Inasmuch as my s e n t i m e n t s s t r o n g l y f a v o r
M r . G i a n n i n i f s s i d e o f t h e case, i t would h a r d l y be f a i r
f o r me t o s i t as a j u d g e .
Les t e l l s me t h a t he t r i e d t o c o n t a c t you
s e v e r a l t i m e s t o d i s c u s s t h e aspects o f t h i s case i n
advance, and t h e n e a r e s t he ever g o t was t o a press
agent o f t h e F e d e r a l Reserve B o a r d . He I s q u i t e w i l l i n g
t o s i t down w i t h you o r l u n c h w i t h you a t your conveni e n c e t o d i s c u s s i t f u r t h e r and, w h i l e I would l i k e t o
be t h e r e (as a w i t n e s s b u t n o t as a judge) I am l e a v i n g
f o r the Coast w i t h i n t h e n e x t few days.
Sincerely,

W. R. H e a r s t ,
JR




Jr.