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BOARD OF GOVERNORS

FEDERAL RESERVE SYSTEM

O f f i c e

C o r r e s p o n d e n c e
Chairman Eccles

prom

Date_october u, 191+5.
Subject:

Mr. Thurston

I noted in the American Fiscal P o l i c i e s pamphlet that
Harold Groves states?




"The conclusion is that the excess p r o f i t s tax
should be repealed at the close of the war, the r e peal to become e f f e c t i v e "when extraordinary warcaused p r o f i t s have ceased to exist (perhaps a year
a f t e r the war ends)."
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