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Jlort.i I . K. l.'Jl BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Offx<ce Correspondence Chairman Eccles From'A Lauchlin Currie Date November 4, 1937. Subject: Effect of Reducing Financing Charges on Residential Construction In reading over Daigerfs memorandum I find that some changes have been made since you talked to me about the housing program. The cost of homes eligible for 90 percent mortgages has been raised to $6,000, and a sliding scale of insurance premiums is retained for homes costing more than that amount* Consequently, the equivalent reduction in construction costs for houses costing more than $6,000 will be less than that shown in Krostfs memorandum. His suggestions, however, are still pertinent.
@FedFRASER