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F e b r u a r y 20, 1951 J v i^ n 'io r a n d u m From: £or: j. K. V a r d a m a n K e m b e r of the B o a r d of Go v e r n o r s Federal R eserve S y s t e m T h e President Y o u r reply to Bricker w a s a humdinger. I a m glad to have a copy of it.