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BOARD OF GOVERNORS OF THE FEDERAL D a t e To RE8ERVE February 2, 8Y8TEII 1 9 5 1 Governor Eccles From Woodlief Thomas MESSAGE: This rather well expressed statement of Dr, Miller has a bearing on the present situation. This file contained a transcript of a copyright-protected article that has been removed. The citation for the original is: Miller, Adolph C. “Responsibility for Federal Reserve Policies: 1927-1929.” American Economic Review, 1935.