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Form No. f\CC* 131 f~^ 1 Orhce Correspondence To Governor Eceles From J . JI. Daiger 0ARD FEDERAL RESERVE Subject: Date _ isaass3 _i S u J^Aslag subsidy. Ii^fccordance with your suggestion Tuesday evening, I have gone over the proposed Emergency Relief Appropriation Act of 1955 with yotir idea of a housing subsidy in mind. Section 1 ly its general terms, and Section 5(b) by specifically authorizing the President H to maJce grants,11 might both be construed to permit the subsidizing of private construction. The question is one that the legal department of the Treasury might best be able to answer.
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