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\ R. 131
BOARD OF GOVERNORS
OF THE

FEDERAL RESERVE SYSTEM

Correspondence
Q
From _

Mr. Eccles
J» M, Daiger

Date January 2£* 1957
Subject:

Hemp-jug editorial in
Wash±Qgtgp_. Post
6 f0

Mr* Eugene Meyer recently invited me to have lunch with him
and two members of the Washington Post staff, one an editorial writer
and the other a news writer, to discuss housing* As you know, The
Post has shown, in its editorial columns, an interested and in the
main friendly attitude toward the Administration's housing and mortgage
activities*
Last Eriday, Mr, Pusey, who has been writing most of The Post's
editorials on housing, came to see me to ask me to give him some verbal
suggestions for a sort of keynote editorial that he wished to write on
the subject with the new Congress and 1957 legislation in mind. The
editorial was published this morning. The suggestions that I made to
Mr. Pusey were, briefly, as follows:
(1) That legislation this year should be directed
toward the long-range aspects of housing and mortgagefinancing rather than toward the emergency aspects that
were stressed during the depression period.
(2) That a clear distinction should be made between
housing, which is essentially an industrial and financial
problem, and slum-clearance, which is essentially a civic
and fiscal problem in which housing is simply a means to
a social or civic end.
(5) That large-scale housing operations, the need for
which The Post has been stressing in its editorials, can
perhaps best be fostered by putting the low-cost-housing
provisions of Title II and the mortgage-association provisions of Title III in more practicable form.
(4) That adaptation of British methods of mortgage
financing, which The Post has suggested from time to time
in its editorials, would not result in large-scale operations,
such as have characterized the British building program, unless our construction industry developed building and management companies with a degree of financial responsibility
comparable to that of British building companies.

htP



16—852

This article is protected by copyright and has been removed.
The citation for the original is:
Washington Post, “Basic Principles in Housing,” January 25, 1937.