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1'orAiXo. 1S1 Office Correspondence j Governor Eccles From Lauchlin Currie FEDERAL RESERVE BOARD Subject: Date_ .Augast 1,1955 White-collar pr-o-ject . Attached is a letter which I would like to have sent to the Comptroller, asking him if he would be willing to cooperate in the proposed white-collar project. — August 2, 1955. Honorable J. F. T. 0*Connor, C -rnptroller of the Currency, Treasury Dspftrtntint, Washington, D. C. Dear Mr. 0fConnor* The Federal Reserve Bo** ret has; under coruiideration & sample study of thf1 attribution nod activity of deceit accounts from 1928 to 1931, A S a possible- white-roller project to be submitted to the Hiorka Progress Adaiinii;trr.tion# As £ur HQ possible it i* planned to confine the study to banks currently in opiir&tion. In certain ca.sr'S, however, the past records of accounts in which we are paytlcM&i ly interested are in banks not? in receivership. Before *se takfc any furthur steps in Initiating thi. project we &hoild like to flic o it if yo*a.vould be willing to permit access to suca r-cords. The inforafction woula b*. obtained eol*ly for st&tistical p\irpose« and no other agency would be peraitted l e W H to the basic la&trrisl. It li planned to offer employment to former employees of banks and other financial institutions aho are accustomed to respect U M I confid^itisl nfeturt- of personal financial seeounts. In any 0M#« no person would be assigned to the taak of transcribing records before your receivers had en opportunity to satisfy themselves as to his integrity. It is planar to give employaent to from two to six clerks per beak, depending upon the desk space available e.nu t)M 9lm of the bank# In th. casi. of the £wa suspendejd ntitional b«nks we hsve in Aind, where desk space is perhaps limited, it «£iy be possible to rent space in adjoining rooms. If yo-j Mre interested in further details of th* nature and purpose of th^ project and the measures that woolc be taken to provide ag^inet any disclosures of coafide«titl aattrifel, I K I H M U be very hap^r to .supply theau Tour cooperation in thi& project would not only further what we feel «&y be a highly significant study, but «o'ild also contribute to progr&a to t/ive employment to people now O R relieff particularly to people in whoa we both have a special interest, aatt ly i"om..r employ ems of financial institutions. lours sincerely. Ikrriner S. Eccles (Sovernor LC.em
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