View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FonnNo431

Office Correspondence
To

FEDERAL RESERVE
BOARD

Mr. Currie

March 7, 1935.

Subject:.

Mr. Edmistor r
Q

r om
• PO

The attached material is self-explanatory.

Governor JSccles

requests that you and I look it over with a view of advising him
whether or not Mr. Ingalls' request should be granted.
It seems to me that inasmuch as the speech was not public,
there is no reason why these people should be allowed to circulate
a summary of it among their clients, particularly when it appears
that they are going to use it, at least in part, as advertising
propaganda showing how they had forecast the philosophy expressed
as a probable Administration thesis.

Moreover, we cannot tell

exactly what form it will be presented to their clients and what
additional conclusions will be presented with the summary.

If we

edit the summary, it is likely that it will go out to the clients
with our stamp of approval on it, whereas, if we do not edit it,
the statement will be misleading.
There have been several requests from people who attended
the speech for copies of it to show to friends.

All of these have

been turned down and I do not think that an exception should be
made ill this case, in spite of the fact that Mr. Ingalls has volun­
tarily prepared a summary, which, by the way, isn’ so bad, consider­
t
ing that he was simply a member of the audience.




What do you think about it?

16—852