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Form F. B. 131 BDARD DF GDVERNDR5 DF THE FEDERAL RESERVE SYSTEM Office Correspondence TW F^mry 5, 1938, To Chai^tgajy "E^iaci Subject: W. P r AT Expenditures From Lauchlin Currie — — - I checked up with W. P. A. in connection with Secretary Morgenthau?s recent statement. The gist of the story I got is as follows: The present appropriation will see the W. P. A. through this fiscal year if the following schedule is adhered to: February March April May June 1,950,000 on work relief 1,800,000 « w » n 1,600,000 n " 1,530,000 n n n 1,500,000 n Ify informant thought that in addition to the #658 million unobligated on January 1st, a maximum of #50 million could be picked up elsewhere without asking for new appropriations. By working on the assumption that every additional man costs $65 per month, it is possible for W. P. A* to ease gradually until 500,000 additional are taken on in the next 5 months, at a total cost of only #180 million over the above schedule. The following hypothetical schedule, which is my own, would fulfill this condition: February March April May June 2,000,000 2,150,000 2,250,000 2,350,000 2,450,000 I was informed that unemployment has increased very substantially in January and that the pressure on the regional W. P. A, offices is becoming severe.
@FedFRASER