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February 6, 1946 My dear Mr. President: In accord with the conversation which Mr. Taylor and I had with you last week, the Board of Directors of the Export-Import Bank, today, accepted the resignation of Mr* Taylor with sincere regret and assigned to me as Chairman of the Board the duties which he formerly assumed. This would appear to be consistent with the Export-Import Bank Act of 1945, which vested the management of the Bank in the Board of Directors and made no statutory provision for a President. I would like to repeat again my deep admiration for Mr, Taylor and the splendid manner in which he has discharged his responsibilities* It has been a great pleasure to have been associated with him* Yours respectfully, Wm. McC. Martin, Jr., Chairman of the Board The President The White House
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