Full text of Marriner S. Eccles Papers : [Memorandum Regarding Expectations of Board Members], Box 46, Folder 4, Item 1

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COPY
February 4, 1956
The Batters which engage the attention of the Board members cover
a wide range of subjects and each member is •qually responsi le with every
other member for the action taken by the Board thereon except with respect
to action taken during his absence or in cases where he has specifically
dissented or requested to be recorded as not voting. It is expected, however, that absences of members of the Board froai Washington shall as far as
practicable be arranged so as not to interfere with the expeditious conduct
of the Board*s business.
Because of the great variety of subjects it is desira le that each
member give his attention primarily to a particular group of matters in
order to distribute among all the members as equitably as possible the work
of disposing of current business and to enable them to concentrate on important questions of policy.
The assignment of particular subjects to an individual member
places upon him the duty of acquainting himself with the facts and questions
involved which are necessary to a determination by the Board as to the actions which should be taken on euch subjects so that in the light of his
responsibility as a Board member he may advise the Board and make recommendations to it as to their disposition. The present assignment of subjects
is provisional and subject to revision in the light of experience.
Such an assignment of course does not carry authority to speak
for the Board or act on its behalf on matters which under the law can only
be determined by Board action or to dispose of a matter except in accordance
with action taken by the Board thereon.
In many matters the detail work is done by the divisions of the
staff dealing with the particular subjects and proposed action by the Board
is formulated by them either on the basis of established principles and
policies of the Board or after consultation with the particular Board members to whom the subjects are assigned. All divisions of the staff are
available to help and advise with a member of the Board on any subject in
which he Is interested and he may call upon any or all of them for such information, consultation or preparation of material and documents as he may
need in handling the subjects assigned to his. In most cases the disposition of matters assigned to members of the Board requires the collaboration
of two or more divisions, No one division is assigned solely to any particular Board member*
Each Board member is furnished with charts showing in brief form
the principal functions of the various divisions of the staff and the distribution of duties among the principal subordinates. The purpose of these
charts is to enable each Board member to know upon whom to call for information or consultation in connection with any particular subject that may




engage his interest* Each Board member is free to call upon and consult
directly with any individual ranker of the staff whose duties include the
particular subject in which the Board member is interested* It Is understood of course that such subordinate ^111 then clear the matter with the
chief of his division so that the latter M y be in position to know at all
tines the work that is being done by his subordinates and to exercise the
necessary supervision*
When natters are submitted to the Board they are cleared through
the office of the Secretary which Is familiar with the established policies
of the Board and effects any coordination In the staff consideration of the
natters that nay then be necessary hy consultation with or submission to
other divisions that may be concerned with the sane subject* The Secretary9s
office handles the circulation among the Board members of natters requiring
their consideration and maintains a record of such natters until they are
disposed of*
In the circulation of matters requiring Board action or for the
information of all members of the Board a rub er stamp will be applied by
the Secretary's office, which will carry at the top the notation "For approval first of Mr.
* or *For circulation first to Mr*
».
with the n.°nes of Board members listed below the blank in which the name
of the Board member to whom the particular subject Is assigned will be inserted by the Secretary's office*
It has been found that it is of very material assistance in expediting the Board's work and saves considerable time if the secretaries
to the members of the Board maintain records of circulating matters passing
in and out of their offices, as such records enable the Secretary's office
to ascertain the location of the papers involved end the status of their
consideration.
Each Board member may disagree with or question any recommendation*
Upon unanimous approval by the Board members present (indicated by their
initials) matters are treated as disposed of by Board action and incorporated
in the current minutes*
In case of any disagreement or if the Board member
desires that the matter can be held for discussion the file is returned to the
Secretary's office with a notation or memorandum to that effect in order that
the circulation among the other Board members may be completed*
It is then
brought up for action at a Board meeting* This gives every Board member an
opportunity to participate to the fullest extent possible in the consideration
of and disposition of any matter before final action is taken*
The Secretary's office will consult with each Board member as to
his wishes respecting the volume and character of matters which should be
brought to his attention in addition to matters requiring Board action and




as to what matters he wishes to see before they are referred to the appropriate members of the staff or only after the staff has done the necessary work and prepared then for consideration by the Board* Any Board member may at any time reduce or enlarge the ,5 cope of the routine matters which
he desires to see. The Secretary's office is charged with the responsibility
of properly distributing incoming natters among the appropriate Board members and divisions of the staff find of clearing with the Board members a H
matters requiring Board action, maintaining such records as may be necessary for the purpose* The Secretary or an Assistant Secretary signs all
letters, telegrams and documents evidencing Board action except when for
special reasons It seems desirable for the Chairman to do so*
The work of the Board is highly confidential and all inquiries
from members of the press regarding actions of the Board are referred to Mr.
Thurstcn, in the Chairman's office, who handles these matters under the
supervision of the Chairman*