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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Executive Order is only way to end. confusion, conflict,duplication in banking field—only one left in which rresident hi-s not unified the set-up, rattern set in Fed.Home "^oan Bank Adm.,Nat.Housing Agency,Farm Credit. Bureaus and bankers would oppose legislation but not after the three agencies has vxaaus. been consolidated. Bankers like divided authority because of its weakness. Public interest and Administration's record rmpni require this step—otherwise headed for breakdown. It would save fc great deal aoing a way with 5 separate examining,legal and other staffing. You want to help in any way possible-,would welcome opportunity to be useful,but you are not a job seeker—don't need onel Suggest you and Harold Smith work out plan with alternatives. <7hile treasury and Leo may be hostile both are over-burdened with responsibilities now apart from incidental banking duties. Fed.Res.is logical place to set up plan,its credit and monetary powers must key in with examinations. freseAt futility illustrated by our inability to enforce lew against paying interest on demand deposits—your our sense of frustrated.
@FedFRASER