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BOARD OF GOVERNORS or THE FEDERAL RESERVE SYSTEM "Office Correspondence Date_ AprU i9> 194<j— Subject •—faprtumnittiap af th» ]»«dw«l A* * awsaber of the Board, I cannot accept ae ?e tinfactory Mr. Lovett1* letter of the 21«t, la reply to Hr. Eccles1 letter •* th« 9th. I do not consider Mr. l**ett*8 letter faetual, and th« talk about Halted budget* and other llaltatioa* does not eoovey the roel reason, and certainly not sufficient reason, for failure to include a representative trom thie Board os the delegation. The faot resmlat that the Federal Be*erre Board »*», app^renUy, doliboratoly slighted in thia c*»e; and suoh slight « M eaphaslKod by the Secretary of the Treasury's irritation to the President of the Federal Kaserre Beak of lev York, without reference to this Board. I think the Board should either be represented on these delegations, and recognition given to the vork done by its seabere aad its staff, or the Board should discontinue asking available the services of its aeabore find staff for the purpose of doing so such of the spade vork and research for the delegations.
@FedFRASER