Full text of Papers of Benjamin Strong, Jr. : Incoming and Outgoing Correspondence and Cables : Relating to "The Interpretation of Federal Reserve Policy in the Speeches and Writings of Benjamin Strong"

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October 19, 19'4.

Dear Doctor Ramatya:

In response to your letter of August 75 we take
pleasure in sending you under separate cover it copy of

-rh- Interpretations of Federal Reserve Policy in the
Speeches and WetIngs of Ilenjamin Strong."

I am much obliged to you for renEng me a copy
of your commendary on the Reserve Sank of India Act, en(" 79

shall also be interested in seetng the other book as it
appenrs.

Very truly yours,

A. Ramaiya,
Director, Bureau of Economic Research,
50. Sandalpet Street,
Madura, India.
Dr.

BUREAU OF ECONOMIC RESEARCH
giNtiami@m-m, 50. Sandaipet Street,
MADURA, INmA.
A.

RA,44 A
DIRECTOR.

25th Aug. 34.

Dr. W. Randolph Burgess,
Deputy Governor,
Federal Reserve Bank of few York,
33. Liberty Street,
New York.
Dear sir,

At my request my publishers will be sending you a copy
of my book 'A Commentary on the Reserve Dank of India
Act', in which, I believe, you will be interested.
I shall be glad to receive any criticisms and suggestions that you may be pleased to offer.

If it will not in any way inconvenience you, may
he Bureau of Ecook"INTERPRETATIONS
ches and wrir ii.o.olmt rublicationsr

, and is not
present to purthe subjects of

entitled 'Toney
, I shall send you

y truly :-ours,

October 2, 1931.

Dear Mr. Tead:
4/1

Your leAer of September 30 brings me the disappointment, bd realizing now small has been the distribution of Mr.
Strono's book

but I suppose there is nothing that can be done

about it now.

Sic transit 7,1oria Iundi.

You are really mach better able to judge.tdan I as to
the probable future demruids for the boo's, judglik; from the rules

in recent months.

I suspect, however, that the economic devel-

opments of recent months hvrc driven frog people's minds the
series of problems Governor Strong dealt 7Tith.

It seems to me

that the four hundred remaining copies will be adequate to meA
the demand.

sincerely yours,

4r. 'irdvay- 'read,

C/o Harper & Brothers,
East 33rd Sc.reet,

New York City.
NRB,H

HARPER & BROTHERS
PUBLISHERS
NEW YORK AND LONDON
ESTABLISHED
1817

CABLE ADDRESS: HARPSAN1
TELEPHONE:ASHLAND 4-1900

49 EAST 33" STREET, NEWYORK,N.Y.

September 30, 1931

Dr. W. Randolph Burgess,
33 Liberty Street,
New York, N.Y.
Lear Dr. Burgess:

I don't like to bother you about details
but I think this is sufficiently important to take a
moment of your time.
e printed the book "Interpretations of
Federal Reserve Policy" from type because of some doubt
as to whether tnere vould be a need for a second printing.
I find now that of the stock of one thousand
five hundred which we printed, we have four hundred bound
books left.
I am wondering therefore if you would see any
objection to our destroying the standing type, since the
monthly rental charge of this seems to be mounting up.

Ordway Tead
Editor, Business Books
OT:K

Leptenber 1, 1931.

Dear Mr. 'reads

I should like

your letter of August

think about the suggestion in

S:
. J

whether it would work out.

am very doUbtful, however,
I think the price ha..7 not been

a very important factor in the distribution of this book,
and I suspect that the distribution up to this time has
pretty well taken care of the people who might be interested.
Sincerely yours,

Mr. Ordsay Teed,
Editor, Business Books,
Harper & Brothers,
49 East 33rd Street,
New York City.

WRBii

;\ HARPER & BROTHERS
PUBLIS HERS
NEW YORK AND LONDON
ESTABLISHED
1817

CABLE ADDRESS HARRSAM
TELEPHONE,ASHLAND 4 -1900

49 EAST 33' STREET, NEwYortic,N.Y.

August 31, 1931

Dr. T. Randolph Burgess
33 Liberty Street
New York, N. Y.
Dear Dr. Burgess:

I wonder if, from the point of view of distribution to the executives and directors of
the Federal Reserve Banks, your book of
Yr. Strong's papers has shot its bolt.
It has occurred to me that it might be possible to make a snecial printing of the book
for such use with a special title page at a
substantially reduced price, if a sufficiently
large order could be procured, say five hundred
or a thousand. 'le might be able to do this
for somewhere around $2.25 to 52.00.
If this is a wild idea, deposit this letter in
the waste basket.

Ordway Tead
Editor, Business Books

OT:dc

MSC... AS I44

FEDERAL RESERVE BANK
OF NEW YORK

ite

CROSS REFERENCE SHEET
FILE No.

(-(6

SUBJECT

SEE

FILE No.

7/C

LETTER 0
DATED
L

c5////)

cA/1-

(

or/

(

April 130 1931.

Dear Mr. read:

Many thanks for tho clippings which I am

rouraumg herewith, together with a cog; of a lettar
I have just addressed to Dana Noyes.
Sincerely yours,

Mr. 3rdway Toad,
C/o Harper & Brothers,
43 cast 33rd Streot,
New York City.
V/R3.11

April 13, 1931.

Dear Mr. Noyes:

In checking over recently the publicity concerning the
book of Mr. Strong's writings.; find there does not appear to have
been as yet any review in the Sunday literary supplement of the
New York Times which I am told is the best vehicle for msking a
book known to the reading public.
been a trifle disappointing.
appear to have been sold.

The distribution so far has

only a little over a thousand copies
I am wondering if you would have any

suggestions either as to the desirability and possibility of a

review in the Times literary section, or any other means of making
the book a little better known.

You gave it a magnificent news

column review in your financial section at the time it came out.

I should have thought that there would have been a larger
interest in Mr. Strong's writings.
may

It may be the depression or it

an e.cample of the adage 'tic transit gloria mendi.1

With cordial regards.
Sincerely yours,

2(5-Ur. A. D. Noyes,
C/o New York Times,
Times Square, New York.

)6,,

HARPER & BROTHERS IAC41PUBLISHERS
NEW YORK AND LONDON
1).b

ESTABLISHED
1817

CABLE ADDRESS: HARPSAM
TELEPHONE:ASHLAND 4-1900

49 EAST 3:in STREET,NEWYORK,N.Y.

April 10, 1931

Dr. W. Randolph Burgess
Federal Reserve Bank
33 Liberty Street
New York, N. Y.
Dear Dr. Burgess:

I am enclosing herewith a sheaf of the reviews and I
think you will be impressed by the rather complete
coverage by the financial and banking papers of the
book.

I have been looking over the returns of our direct mail
campaign and they have been very disappointing. In fact,
we have been unable to find any one type of list that
it really pays to circularize in terms of the number of
copies sold by mail, -- the one exception being the list
If you have
of officers of the Federal Reserve Banks.
any further suggestions to make about lists, I should certainly like to have them. The ordinary run of bankers'
names seems to be hardly productive at all.

The sale down to the 1st of April seems to be around 14,500
conies.

Ordway Tead
Editor, Business Books

CT: do

Alir GRACE BROTHERS & C?LT1'

147, LEADENHALL STREET,

LONDON, E.C. 3.

CABLES 8. TELEGRAMS "THEOTZED,LONDONr

TELEPHONE: AVENUE 8460.

Sta. April 1961.

Dr.7:.RandolDh 3 ut ess.,
Federal Reserve
nk of 1:ew York.
ITTE4 YORK:

Dear Burgess,

it was very nice to hear from you, and very kind
of you to send me the book of :1r.Strongls writings.

I suppose that when the fourteen points and the Great 7ar are
forgotten, the 7ilson administration will be remembered for
the establishment of the Federal Reserve System, and one can
oily hope that those who like 1:,r.Strong made it successful,

will be remembered in those days too.
Hopin:' to see :fou over here again soon, and

with kindest regards,
Yours sincerely,

SR /K:

March 25, 1951.

Dear Spring-Rice:

I was reading yesterday Bacteria book on The
Imperial Banks, and his reference to the help you had given
him reminded me that I had not sent you a copy of a book of

iienjanin Strong's writinzs which we have rocely pUblisned
here, and I am hastening to repair that omission because I
think it is something you will find of interest if you have
already procured yourself a copy.
not s

I often remember with great pleasure the good time
you gave me in London.
With cordial re;:ards,

Sincerely yours,

Mr. Dominick Spring-Rice,
C/o Grace Brothers & Co.,
147, Le,::annall F,'merest,

London, E. Co, 3,
Englanl.

141C. 4

FEDERAL RESERVE BANK
OF NEW YORK

gke

CROSS REFERENCE SHEET
FILE NO.

1761

SUBJECT

SEE

FILE No.

'14)i/

LETTER OF 171DATED

iet6r

/t//Q

,-79/2
et

THIRTY THREE LIBERTY S REET
NEW YORK

FELIKS MLYNARSKI

WARSZAWA, DN.

anuary

26th.. 32

FILTROWA 71, DOM 4.
TEL. 103-26

F,,Z,CEIVED
FEB 7-1931

J. E. O.,

Dear Mr. Crane,

After returning from Geneva,I found
the writings and speeches of Benjamin Strong,so
kindly sent by you.
May

I thank you most sincerely for your

kind memory and assure you that the book will be of
remarkable interest to me and will remind me once more
of the great work Mr.Strong accomplished.

Adding my best regardq,I am
Sincerely yours,

Mr.J.F. Crane, Deputy Governor

Federal deserve Bank of New York
New York,N.Y.

*gin/

ii'ANIED11C1CDTIP' TiitlEAST1 CCIDWICIPILIVIT

CAPITAL AND SURPLUS 200,000
D. C. WARNER. PRESIDENT
R.J.Mc DONALD. ASST. TREASURER
R. L. BOWEN. Ass'T.TRUST OFFICER
E .L. BROWN. TREASURER
D.C. MORGAN. SECRETARY
E.F. MILLER,Ass'T.TREAs ANDTRUST OFFICER
GEO .W. JOHNS ON. VICE-PRESIDENT

Ernrom OTT N.Y.

January 19, 1931

Mr. L. F. Sailer, Deputy Governor
Federal Reserve Bank
New York, N. Y.
Dear Mr. Sailer:

I received, this morning, a copy of
"The Federal Reserve Bank and the Money
Market", also, Benjamin Strong's Speeches
and Writings of "Federal Reserve Policies".
I know I will find each very interesting
and want to thank you for sending them.

With kind regards, I am
Yours very truly,

President

PREF,ES

WARSZAWA, DN. January 13,

Ii4ANE:7 POLSKIECIA)

eiLA,
/1

"eq

LP UC v-4.44/

near :r.Harrison,

The two copies of the collection of the 4ritings
and speeches of Benjamin 3trong ma

by Mr.Burgess of

your Bank, announced in your let t1er of November 5,
have reached me some weeks ago.
Before thanking you, I wanted to know the book.
I just finished reading it and am still under the
powerful impression of the inspiring ideas and the
inexhaustible spirit of a great mind.

Please accept my most sincere thanks for having
sent me these valuable books. One of the copies will
remain on my personal bookshelves, while the other will

be a welcome contribution to the library of our Bureau
of .]conomic Research where it will be available to the

entire staff of the Bank and students of economics
outside of it.

Thanking you again, I remain, dear Er.Harrison,
yours very sincerely,

Dr./adys/aw 'grablewski,
President of the Bank Pol
The Honorable
Georges Harrison,
.overnor,

Federal Reserve Bank of New York,

New Iork

14*1

HARPER & BROTHERS
PUBLISHERS

rif

NEW YORK AND LONDON
ESTABLISHED
1817

CABLE ADDRESS HARPSAM
TELEPHONE, ASHLAND 1900

49 EAST 33° STREET,NEwYoRic.N.Y.
January 12, 1931

Randolph Burgess,
33 Liberty Street,
Yew York,
Lr.

Dear Er. Burgess:

Of course, the ultimate decision rest
with you. I am only going on the claims of our college
textbook salesmen that they can further stimulate the
sales when the new edition is available.

You probably saw the excellent review
in yesterday's Sunday Tribune of the new book.
Cordially y

ORDWAY MAD
-Economic and Busi_es:: Books

OT:K

6 January 1931.

417
Ge-17)
,VoidAwernecco---

Dear Mr. BU

Li ss,
e

Let my congratUlate you on your
excellent idea to have edited the book
"Interpretations of Federal Reserve Policy" by our late friend, your great Governor Benjamin Strong.
I have only looked through the
book and read a few of the chapters, but
it seems to me that you have made an illuminat, choice.
Many thanks for sending it.

With the compliments of the
season, I am, dear Yr. Burgess,
Yours most sincerely,
07,-/-1)(7144-47

Yr. W. Randolph Burgess,
Deputy Governor, Federal Reserve Bank,
Yew-York,

G.RM.

BOX N° 2719 G P 0 SYDNEY.

Ot4

\NEAL

7./Y

/...5w 24th December, 1930.

G.L. Harrison Esq.,
Governor,
Federal Reserve Bank of New York,
NEW YORK. U.S.A.

My dear Mr. Governor,
I acknowledge your letter of the 5th November,

advising despatch of a book of the writings and speeches of
Mr. Benjamin Strong, which has been duly received, and for which
I thank you.

The work is an extremely useful and interesting
one, and I much appreciate your action in sending it.

With kind regards,
Yours sincerely,

AMBASSADE DE FRANKEC 24 IWO
AUX ETATS UNIS

E.. 0,

L 'ATTACHE FINANCI4

December 23rd 1930.

Dear Mr. Crane,

It is very thoughtful of you to
send me this interesting book on the writings
and speeches of Benjamin Strong.

I shall

greatly enjoy reading this work, which will
prove very enlightening, I am sure.

With the compliments of the season
and my sincerest thanks,
Very sincerely,

Mr. J. E. Crane,
Deputy Governor Federal Reserve Bank,
New York City. E. Y.

ALEXANDER W WOYTKIEWICZ

DEC Z4 1930

J E. 0.
217 BROADWAY
NEW YO RK

December 23, 1930.

T. E. Crane, Esq.
Deputy Governor
Federal Reserve Bank
of New York
New York, N. Y.
Dear Mr. Crane,

Please accept my thanks for your
kindness in sending me a copy of the late Governor
Strong's speaches on the Federal Reserve Policy,
edited by Dr. 7. R. Burgess.

I appreciate very much this interesting work and am looking forward to reading it with a
great pleasure.

Sincerely yours,

TRANSLATIO N
ADD.-

Bogota, December 22, 1930.

LTAA1

Mr. G. L. Harrison,
Governor, iederal Reserve Bank,
ode.

York.

Dear

Harrison:

I acknowledge your letter of November b and "ish to advise you of the arrival of a copy of the book entitled "Interpretations of vederal Reserve Policy in the Speeches and Writings of Benjamin Strong" awl edited by Mr. Burgess whose name
is already well-known to us in this Bank as the author of the
excellent work "THE RESERVE BANKS AND THE MONEY MARKET".

I send you sincere thanks for this kind gift which
has exceptional interest for us because of the ideas and doctrines set forth in this publication, which is a valuable addition to our library.

Yours very truly, etc.

JULIO CARO
Manager.

'Ort
1?-4

DIREP

°AV

4, diciembre 22 de 1930

ta de 5 de Nov. Ultimo para

mplqr del libro titutado:

l Reserve Policy in the
Benjamin Strong" y editado

ya bien conocido en este

HE RESERVE BANES AND THE

expresivas por este amable

are nosotros por las ideas y

, la coal constituye un valio-

Ss.Ss.

CO DE LA REPUBLICA
EL GE.xiiiiTE,

Ca
(Y" /// ff

7/((t1((.(7

4,tie-Oert

AL
AL CONTESTAR

ESTE NUMERO

AGENCY OF
THE YOKOHAMA SPECIE BANK. LTD.
NEW YORK

December 20,
1 913.::vi v

DEC 22 1930

J E. 0.
Dear Mr. Crane:

Thank you for your kind
letter of the 18th, and for the two
copies of the book of writings and
speeches of Benjamin Strong.
The contents of these I value most highly and
appreciate your courtesy in sending them
to me.

May I take this opportunity to wish you A Very Happy Christmas
and A Most Successful New Year.

Since

Mr. J.E.Crane,
Deputy Governor,
Federal Reserve Bank of New York,
33 Liberty St., New York.

rs,

MR. DR. G. G. VAN BUTTINGHA WICHERS

Batavia, 15 December 1930.

BATAVIA

Mr.G.L.Harrison
Governor of the Federal Reserve Bank of N.Y.

New Y o r k.

JAN 2 1 1931
Dear Mr.Harrison,

Q.L.H.

I received your letter of 5th November together with a
copy of Mr.Benjarnin Strongls Speeches and Writings edited in

book form, for which I wish to express my best thanks.
I very much appreciate your kindness to present me with
this book, which will undoubtedly prove very interesting and
instructive.

Believe me, Sir
Yours faithfully,

REICRSBANKPRASIDENT a.D

DR. HJALMAR *SCHACHT

BERLIN SW 111, DEN

Dec 6.1930

W.Randolph Btt1 gess,Esq.,

Federal Reserve Bank of New York,
New York.
Dear Mr. Burgess:\
May I express my sincere thanks for
your kind letter of November 7th, and at the same
time for the book mentioned therein.
Sincerely yours,

ROYAL ITALIAN EMBASSY
OFFICE OF THE COMMERCIAL COUNSELOR

No.

New York Office,
44 Whitehall Street,
December 19, 1930

7077

Mr. W. Randolph B
Federal Reserve
New York City.

ss,

of New York,

Dear Dr. Burgess:

I am really indebted to you for your
kindness in sending me the book containing the
writings and speeches of Benjamin Strong, so
masterly edited by you.

I shall not fail to read them with the
utmost, useful interest for, no doubt, Governor
Strong was a real, determined leader in the movement to bring about a more sound and helpful cooperation in the new international banking field.

May I take this occasion for sending
you my most sincere wishes for the Coming Season.
Cordially yours,

December 18, 1930.

Dear kr. Takei:

I am sending to you under separate cover two
copies of a book which contains some of the writings
and speeches of Benjamin Strong.

These documents have
Burgess in order that

been collected and edited by

they might be readily available to tankers and students
of banking and economics generally.

Thinking that this book may prove of interest
to you it gives me great Pleasure to send you these
copies with m

compliments.

Faithfully yours,
4)4'

J. E. Crane,
Deputy Governor.

Mr. R. Takei,
Superintendent,
Bank of Japan kgency,
New York, N. Y.

JEC.KMC

December 18, 1930.

Dear Mr. Sonoda:

I am sending to you under separate cover two
copies of a book which contains some of the writings
and speeches of Benjamin Strong.

These documents have

been collected ancl edited by kr. Burgess in order that

they might be readily available to bankers and students
of banking and economics generally.

Thinning that this book may prove of interest
to you it gives me great pleasure to send you these
copies with mf cor pliments.

kaitnfuliy yours,

rCG
J. E. Crane,
Deputy Governor.

Mr. B. Sonoda,
Agent, Yokohama Specie Bank, Ltd.,
120 Broadway, New York.

JI3C.MIC

December 18, 1930.

Dear gar. konick:

I am sending to you under separate cover a
copy of a book which contains some of the writings
and speeches of benjamin strong.

Those documents hive

been collected and edited by ter. burgess in order that

they might be readily available to bankers and students
of banking and economics generally.

Thinking that this book may prove of interest
to you it gives me great ple&sure to send you this copy
with my compliments.
Faithfully yours,

J. E. Crane,
Deputy Governor.

Mr. E. Monick,
French Financial Attache,
The French Embassy,
31 Nassau :street, New York.

JEC.KMC

December 18, 1330.

Dear Mr. Podesta:

I am sending to you under separate cover a
copy of E.. book which contains some of the writings

and speeches of Benjamin strong.

These documents have

been collected and edited by Mr.

urges

in oruer that

they D.ight be readily avzilable to bankers and students

of banking and economics generally.

Thinking that this book may prove of interest
to you it gives me great pleasure to send you this copy
with my compliments.
Faithfully yours,

J. E. Crane,
Deputy Governor.

kr. Luigi ?odesta,
11 hall otreet
de& York, N. Y.

JEC.DIC

Decewber 18, 1930.

Dear Mr. Woytkiewicz:

I an sending to you under separate cover a
copy of a book which contains some of the writings
end speeches of Benjamin otrong.

These documents have

been collected and edited by kr. burgess in order that
they might be readily available to bankers and students
of banking and economicsgenerally.

Thinking that this book may pluve of interest
to you It gives me great pleasure to send you this copy
with my compliments.
Faithfully yours,

J. E. V1 a11r.,
Deputy Governor.

Hr. A. Woytkiewicz,
Financial Counselor,
Embassy of Poland,
3 East 65 Street, New York.

JEC.K16C

December 18, 190.

Dear pr. Ilynarskii
I azissendiag to you unuar separate cover a

copy of a book which contains some of the writings and
speeches of TJenjamin :strong.

These doamients have been

collected and edited by _r. Lux6ess in order that they
might be readily available to bankt.;.rs and students of

banking and economics gener,,liy.

Diinking tLut this 000k may prove J2 interest
to you it gives :e great pleasure to send you this copy
with aly compliments.

Faithfully yours,

J. E. Crane,
Deputy Governor.

Dr. Feliks ag,lynarsici,

Lwowska Nr. 1J,
Warsaw, Poland.

JEC.K#C

December 17

190.

Deur Ur. Angelent;
It given mu pleasure to seated you under se7larate
cover a copy of a book which yo:: may not yel-, have seen

cont,dain

the 7rritinzs and tpeeches of Benjamin strong

I have been Corking at for TOMO ti-ae.
Tibia cordial re;ards,

Sincerely yours,

Mr. Rotiolu Angelone,
Bozoarcial At:ac:Ab
',loyal Italian 221,1-4y,

44 Whitehall Street,
New York City.

U-

:3ecember 17, 1930.

Dear Vr. Crowther:
47 conmcience has bothered me a good ch,,a1 lately for

not having communicated eil,n you about yovr very kind offer to
review the book of 4r. Otr.:n:Is Tribings in some ap9ropriate
The fact ie we have been so upset h,lre for a nursber of

place.

)4Lifit thflt re have nn.d very little time to think about any-

thing L-thept our 17medite problem.;.

In the meantime, ho aver,

Mr. OrdvT7 Tend o7 Harpers has been looking about a bit.

iie

finds that both the Tines and the rribune and, iu fact, most of
the other papers, have made arranc;aa.mts for roviews

aita taAr

o.:11 people, and ha:. canvased one or two other possibilities

without finding Just tae right thing.

His latent question is

whether a rerie.1 in the fol-LI of an artiole could be done for the

rorldto

rort.

'Florid's

In view of your own cloLe relationship with the

we have not felt that it would be vie for us to

talk with the publishers, at least without consulting; you fir t.

That would yo* think of this possibility?
The book iu goin,;pretty :yell, though not yet exception:o.

7ith best wishes ant crazy thanks for your help, I an,

Sincerely yours,

Mr. 6amnal Crrowtder,

Daysfle, Long Island.

110

December 17, 1930.

Dear

You proviied such an appreciative audience for my

that it dues ua peculiar

book about tae Reserve

pleasure to send you under separate cover a. copy of another

book which I am sure you will enjoy.

IL is « collection of

the writings and L;peeches of Behjadan 6Lrong wnica I have been

working at editing for a number of months past and widen has
just come from tie press recently.
With cordial regard.

Unceraiy yours,

Aandolpi. 3urgeas

Deputy Uovcrnor

Mr. Hideshige Kashiwagi,
The Yokohama Specie Lens., :.td.,
lifhonb,Ashiku, Japan
!ift13.11

HARPER & BROTHERS

New York, December 15, 1930.

Ess,
RI (car Dr. Bu 4(/

Your librarian gave to ME in your name a copy of your latest
book entitled "Interpretation of Federal Reserve Policy". I beg to express my best thanks for trlis courtEsy, remaining

yours very sincerely

Di. W. Randolph Burgess
Deputy governor of the
Federal Reserve Bank
Bew York City

THE BANK OF JAPAN
TOKYO

Pr.70F7iVir-7,17)

DEC 29 1930
December 12, 1930.

Dear Governor Harrison,
'

It is my honor to acknowledge receipt of your polite

letter of November 5, 1930, and a parcel containing six
copies of "Interpretation of Federal Reserve Policy."

glance at the contents of this collection of the speeches
and writings of the late esteemed Governor Mr. Benjamin
Strong is enough to convince one that it is highly valuable
and of great interest to us bankers and students of banking,

as giving pictures of inner working of the federal reserve
system in your country.

Its perusal will enlighten us much

in the solution of many problems and it will prove a valuable
asset in our library.

With hearty appreciation of your courtesy,
I am,

Sincerely yours,

ft
H. Hijikata

Mr. George L. Harrison,
Governor, Federal Reserve Bank of New York,
New York, U. S. A.

.o.ANQIJE DE CRECE
Lt GOUVERNEUR

362?

December 11, 1930.

RA-c-)FivF_-ca

DEC 2 7 1930
Q. L. H.

Dear Mr.Governor,

have great pleasure in acknowledging receipt
of your letter of November 5, 1930, as well as of the copy
of 7,1r. Randolph Burgess' book on the Federal Reserve Solicy,
based on the writings and speeches of Denjamin Strong.
I am very sorry that I have not been able to
thank you sooner, but, as you are probably aware, I was
abroad on business of the State, but I avail myself of this
opportunity of expressing to you my warmest thanks for your
kindness in sending me the volume, which I consider most
useful to those who take a living interest in banking and
economic questions generally.
Faithfully yours,

Mr.G.L.Harrison,
Governor, Federal Reserve Bank,
New- York.

UNIVERSITY OF PENNSYLVANIA
PHILADELPHIA

ipt
WHARTON SCHOOL OF
FINANCE AND COMMERCE

December 10, 1930

W. Randolph
ess, Esq.,
Federal Deserve Bank of New York,
33 Liberty Street,
New York, N.Y.
Dear Dr. Burgess:

Your letter of December S came to me as a very
pleasant surprise, but it pleases me to know that you
found yourself in agreement with my comments on the book.
Although I only had the pleasure of meeting Mr. Strong
for a few brief minutes on one of the many occasions when
when he was in London after the war, I have followed his
work and admired his personality for many years, so that
I can readily appreciate the pleasure which you found in
editing his banking papers.
At the present time I myself am working upon
the preparation of a modest volume on Central Banking as
it has operated during the past decade, and if I might
presume so much upon the time of one whom I know to be
very busy I should like to meet you personally at some
time during the next few months in order to discuss with
you some of the problems in that field.
Again thanking you for your letter, I remain
Very truly yours,

FCJ:ABR

SOUTH AFRICAN RESERVE BANK
SUIDAFRIKAANSE RESERWEBANK

PRETORIA
8th December, 1930.

Pc70EIVE.:0
JAN 7

1931

Q. L. H.

George L. Harrison Esq.,
Governor,

Federal Reserve Bank of New York,
New York,

U.S.A.

Dear Sir,

In the absence of the Governor, who has gone on a short
holiday, I am writing to acknowledge the receipt of the two books
containing a collection of the writings and speeches of Benjamin
Strong, referred to in your letter of the 5th of November, 1930.
These will be handed to the Governor on his return to
Pretoria.

Yours faithfully,

BANCO CENTRAL DE CHI LE
SANTIAGO

DR. VILEM POSPfIL
GOVERNOR
OF

BANK OF CZECHOSLOVAKIA.

Praue, December 5, 1930.

Mr. George L. Harrison, Governor,
Federal eserve Bank of New York,
New York.

oFc 16

1930

Dear Governor Harrison,

I have received your letter of November 5
and the two copies of Dr. Burgess book you mentioned in
your letter.

Please have my best thanks for your kind
attention.

It will be a pleasure to read this very
interesting book. By publishing Mr. Strong's oapers,

Dr Burgess has obliged not only bankers and students
of banking but every man who had the privilege of having
known Mr. Strong either in person or by his activities.
Faithfully yours,

T R A N S L A T I O N

7lontevideo, December 4, 1930.

G. L. Harrison, Governor,
-;iederal Reserve 7ank,

New Yor k.

My dear Mr. Harrison:

With your esteemed letter of November 5, I had
the pleasure to receive a copy of "Interpretations of
Federal Reserve Policy in the Speeches and ':ritings of
Benjamin Strong" edited by Mr. Burgess of that insti-

tution.----

Before leaving, I also was pleased to receive
the books sent me on board 44;;d4 -hich I read 7ith real
satisfaction.
I have them now as references in considering
certain points having to do with an important work which
I am planning concerning banking organization in this
country and I believe that the experience and information contained in them will provide me with valuable
assistance.
Once more I take the opnortunity to offf,r my
thanks for your courtesies and also, esteemed :dr.
Harrison, I ask that you accept a testimony of my
high respect and consideration.
Yours very truly,

Translated by

Silveira Zorzi

BANCO DE LA REPUBLICA
ORIENTAL DEL URUGUAY

Montevideo.,Diciembre 4.950.

Senor G.L.Harrison.,Gobernador.,
Federal Reserve Bank.,
I

e 4

Yo r k.

Li ebtimaao Sr.Harrison:

Con su apreciable del 5 de Noviembre Ultimo he tenido el placer de recibir una copies relativa a las"interpretaciones de la ,olitica de la Reserva
Federal a traves de los di:,cursos y escritos de Benjamin Strong,"trab4os estos,coleccionados y c-mpilados
por el Jr.Burgess,de (ae Instimto.Antes de partir de esa,tuve,asimismo,e1
ag7rado de recibir los libros 4ue envh:ronme u boro,
los males lef cot verdadera satisfacciOn.Alin los tengo en consultor pares considerar
algunos i.cantos de un trabajo de importancia pie estoy
redactando,sobre organizacicin bancaria en este pais,
y creo lue la v liosa experiencia y datos contenidos
en ellos,me serviran de preciosu ayuda.-

Una vez ms,ten:o la oportunidad de presentar mi agradecimiento por sus finas cortesius,y
entretanto,le ruego diets aceptar mi estimado Sr.Harrison,el testimonio de mi alts deferencia y consideraciOn.-

ROA./

Translation.

he President
Illw'of the

Berlin SW 111,
December 4, 1930.

Reichsbank-Direktorium

My dear Mr. Harrison,
I am in receipt of your kind letter of November 5,

together with the six copies of Dr. W. R. Burgess' collection
of the expressions of your late predecessor in office, Mr. Benjamin
Strong.

I thank you most cordially for sending them to me.

I am

very glad that Dr. Burgess has preserved these important opinions,
which are of incalculable value for the study of American banking
organization, in such a terse and handy form, and that he has, at
the same time, made this collection into a worthy monument of the
departed.

With cordial regards, I am
Yours etc.,
(Signed) LUTHER.

Mr. George L. Harrison,

Governor of The Federal Reserve Bank of New York,
NEW

YORK.

Ter '.-3.r-iiriSent

ql.erfirc SW 11,

60.

ben

Dezember 1930.

eicimilank -Tirekforiumf.5
Pc:C.-lc-1w 7.0

Jr. I / 3157.

DEC 15 1930

ber q,Infmorf Off No qingct6e
vorffeheaber Glummer coroiinfcfd
it

L. H.

Sehr verehrter Herr Harrison!

Die mir mit Ihrem gefalligen Schreiben
vom 5. November ds.Os. zugesteliten sechs Exempl are

der von Herrn Dr.W.R.Eurgess zusammengestellten
Au,3erungen Ihres verstortenen Amtsvorgangers, des

Herrn Benjain Strong, habe ich erhalten und danke
Ihnen verbindlichst fur die liebenswardige libersendung. Ich habe mich sehr gefreut,

da/3 Herr Dr. Burgess

durch diese Samlung die gutachtlichen Auslassungen,
welche fur das Studium des amerikanischen Bankwesens

von unschtzbarem Wert sind, in knapper und hand licher Form der Nachwelt erhalten und dadurch auch
gleichzeitig dem Dahinges?hiedenen ein Denkmal gesetzt hat.
:dit freundlichen :Iragen

Ihr sehr ergebener

Herrn fieorge L. Harrison

aovernor of the Federal Reserve
Bank of New York,

New York City

BATUE NATIONALE SUISSE
ZURICH, LE December 3rd, 1930.

LE PRESIDENT
DE LA DIRECTION GENERALE

711111

pg-rFIN/0
DEC

15 1930

G. L--

Mr. George L. Harrison, Governor
Federal Reserve Bank of. New York,

NEW YORK
Dear Mr. Harrison:

Your letter of the 5th November as well as
three copies of the book compiled by Dr. Burgess, sent
under separate cover, have duly reached me.

I hasten

to thank you most heartily for your courtesy in
forwarding

It gives me treat satisfac-

tion, indeed, to possess this precious collection of
writings and speeches of the late Benjamin Strong, whose
memory is particularly dear to me.
Believe me,

Dear Mr. Harrison,
Sincerely yours,

MC. 4

It1

FEDERAL RESERVE BANK
OF NEW YORK

CROSS REFERENCE SHEET
FILE

SUBJECT

SEE

FILE NO
LETTER OF
DATED

(

No.]

FEDERAL RESERVE BANK OF CLEVELAND
OFFICE OF

CHAIRMAN OF THE BOARD

December 2,

1930.

Pc-oFIVri."1-3

DEC 3
G. L.

Hon. George L. Harrison, Governor,
Federal Reserve Bank of New York,
New York City.
My dear Governor Harrison:
Some little time since I received,
with your compliments the volume of the
writings and addresses of Governor
Strong of the Federal Reserve System,
edited by Dr. .:3urEess.

I am reading with infinite satisfaction this splendidly-edited book,
and I thank you for so nicely remembering me.
The work is so authoratatively
set up that its educational value is
of great worth, whether or not one is
connected with the System.

aith kindest regards,
Sincerely,

Chairman of the Board.

1930

HARPER & BROTHERS
PUBLISHERS
NEW YORK AND LONDON
ESTABLISHED
1817

CABLE ADDRESS HARPSAM
TELEPHONE: ASHLANDI900

49 EAST 33° STREET,NEWYORK,N.Y.

December 2, 1930

Dr. W. Randolph B
Federal Reserve Ba
33 Liberty Street,
New York, N.Y.

ess,

Dear Dr. Bun_ess:

I an writing to confirm your letter
of NovemYer 13th, in which you request that royalties
accruing from "Interpretations of Federal Reserve Policy"
J. Herbert Case, at the
should be made payable to
Federal Reserve Bank of New York.
We agree to this arrangement and will
see that royalty payments are made in this manner.
Core ally j urs,

ORDWAY TEAL
Economic and Business Boos
02:K

DE NEDERLANDSCHE BANK `..V.
PRESIDENT

AMSTERDAM, December 1, 1930

Dr. W. Randolph B u r g e s s
Deputy Governor Federal Fese -re
of New York

NEW YORK N.Y.
33, Liberty Street

My dear Dr. B u r

e s s

Let me thank you most heartily for ycur edition
of the speeches and writings of Benjamin Strong, containing such a
wealth of interpretations of the highest order of Federal Reserve
policy. Will you allow me at the same time to congratulate you sin-cerely on the publication of this work giving evidence of such a
heartfelt reverence for the memory of Benjamin Strong, which cannot
fail deeply to impress all of us who have had the privilege of knowing personally this ever memorable great man.
I am looking forward very much to reading your
volume ,

which I intend to give a plElce of honour in my library.

With repeated sincerest thanks and kindest re-Bards, I remain, dear Sir,

Very truly yours

('
(Dr. G. Vissering)

2-2

NEW YORK CHAPTER, INC.

AMERICAN INSTITUTE OF BANKING
SECTION YENICAN BANKERS ASSOCIATION
J. VINCENT O'NEILL. TREASURER

JERE V. D. STRYKER. PRESIDENT

GRAYBAR BUILDING

WITH FEDERAL FlcSERVE BA

LAWRENCE C. FREER " FIRST Vi
WITH THE

ARTHUR GAR
WITH BAN

SIDENT

AEE NATIONA

R. SECOND.
E PRESIDENT
Rs TRUST COmPANy,

420 LEXINGTON AVENUE
NEW YORK

WITH THE NATIONAL CITY BANK

J. MARTIN TELLEEN, SECRETARY
ALFRED E. HENDERSON. ASSISTANT SECRETARY

ROBERT H. FIEDLER. CHIEF CONSUL
WITH MANUFACTURERS TRUST COMPANY

TEL.Eptiosz LIMITHOWON 5510

December 1, 1930

Miss Marguerite Burnett
Federal Reserve Bank
33 Liberty Street
New York city
Dear Miss Burnett:
On behalf of the Library
and the Chapter I wish to thank you
for the copy of "Interpretations of Federal
Reserve Policy" by Benjamin Strong. We
appreciate having this book not only on
account of the im,ortance of the contents
but also on account of the interest that
Mr. strong took in the work of the Chapter.
Yours sincerely,

JMT/IJ

ary

BANCO DE RESERVA DEL PERU
DIRECC1011/4TELEGRAFICA

"RESERBANCO"

LIMA, 1. de diciambre de 1930

R C; ETV
DEC 13 1930

J E. C.

Muy senor nuestro:

Damos a Ud. las gracias por
su atenta carte fecha 11 de noviembre Ultimo,

anunciandonos el envio que ha tenido Ud. la bondad de hacernos del libro de Mr.Burgess que contiene is colecciOn de escritos y discursos de
Benjamin Strong, que hemos encontrado muy interesante.

Reiterando nuestro agradecimiento por su
fineza, nos repetimos de Ud. sus atentos y SS.SS.
Por el BANCO

RESERV'

'EL PERU

diastavo de la Jara
G ente.

riv

M.r.J.E.Crane,

Deputy Governor
Federal Reserve Bank of New York,
New York
ThANbLATIOL:
Dear Sir:
.e thank you for your letter of
November 11 telling us that you were sending
us Dr. Burgess' book, which contains the collection of Benjamin btrongis writings and
speeches, which we have found very interesting.
again thanking you for your courtesy,
we remain,
Very truly yours,

HARPER & BROTHERS
PUBLISHERS
NEW YORK AND LONDON
ESTABLISAIED
i

A
CABLE A DOF/k5IS HAUSAM
TELEPHONE:ASHLAND 1900

49 EAST 330 STREET,NEWYORK,N.Y.

Lecember 1, 1930

ter,

r-andolph Bess,

Federal -1-.esrve Bank,

33 Liberty Street,
New York, :7.Y.

Lear LI. Burgess:

I am enclosing for your information a copy
of one of the advertisements on your book as it appeared
in t:.e -.ew York Times book section, on November 20th.
This is of course only one advertisement out
of several that are a-,pearing in different periodicals;
but this reaches a very Tide audience.
Ulg'tlrttra't

ORDWAY TEAD
Economic and Business Books
Of:IC

LMBER 30, 1930.

'm giving USEFUL gifts this year,

Business Books"

They Told Barron

Fundamentals

The NOirli of the late Clarence W.
Barron. An astounding revelation of
the secrets of high finance as told to

By ROGER W. BABSON. How to ar-

range your entire investment and
speculative routine, explained by

the late owner of the Wall Street

Journal, by Rockefeller, Ford,

America's greatest financial advisor.
"Clear, concise, readable, thorough."
-Business Book News
*3.00

Morgan, Coolidge, etc.

The Retail Executive

His Preparation and Training. By
"Must carry
a message the business man, the
student, the young man entering
a career, can use to his individual

Statistics for the

THORNDIKE DELAND.

Business Man
By W. G.

$3.00

Practical

SUTCLIFFE.

statistical methods for solving the
executive's problems of budgetary

advantage.-- M. J. May, President,

and production control, market and
financial analysis, etc.
$4.00

May Department Stares

*3.00

Profitable Department

New Ways
to Make Money

Store Management.

By HARRY W. SCHACTER. "Easy to

By ROGER W. BABSON. Fifty funda-

read, stimulating, profitable, to
everyone concerned with depart-

mental industries analyzed to show
opportunities for investors, promotors, and young people entering ca-

ment store problems and how to
overcome them."-P. Leboutillier,

reers. "Keen insight into business and

President, Best & Co.

industry. Inclusive yet almost statistical."- Scientific American $3.50

Prosperity and
Consumer Credit

Interpretations of

Federal Reserve Policy

*4.00

By JULIAN GOLDMAN. Explains the

latest methods of instalment selling

In the Speeches and Writings of. to find new markets, stimulate old
Benjamin Strong. Edited by W.
RANDOLPH BURGESS. "Indispensable

to those who seek an understanding
of Reserve policy. Reads like
romance in finance. " -P. W. Garrett
$4.
N. V. Evening Post

What Groucho Says

By "GuorTono". The joyous, dis-

gusted growls of the sage of Printers'
Ink, debunking the whole advertising
business. The perfect gift for adver*3.00
tising men.

and overcome depressions.
"Helpful for merchants and manufacturers alike." - Babson's Book

ones,

Letter.

Financing the Consumer
By EVANTSCLARK, Director, Twentieth
Century Fund. "Most helpful in ascertaining the economic facts about
the small loan business and in elevat-

Frank Pering its standards. " sons, rice President, Amer. ass's of
Personal Finance Companies $3.50

FREE EXAMINATION COUPON
HARPER & BROTHERS,
49 East 33rd Street, New York
1 will
Send
me remit
copies$of :
return book(s)
enclosed.

within 10 days or

Cheek for

_is

Plate send C. 0. 1).

Name

Streetfor FRASER
Digitized
http://fraser.stlouisfed.org/
City and State
Federal Reserve Bank of St. Louis

$3.00

tbi

FEDERAL RESERVE BOARD

-7:0E-IvEol'i
DEC 2

WASHINGTON

O. L.

November 29, 1930.

Harris on:

Cn behalf of Yr.

I pm writing

to p.cknowledge end thank you for cope of the

book containing e collection of the writings and
speeches of Mr. Benjamin Strong.
Believe me,
Very truly yours,

Secretary to

Mr. G. L. 'Harrison,

Governor, Fadarpl Reserve Bank,
". V.
New York,

A. C. "filler.

1930

November 23, 19M.

Dear LAepmann:

Your note of Noveaber 23 is delightful, an
me for all my labors in this matt,r.

1 appreciate it much.

Uncarely yours,

Mr. ii.

A. Ueomann,

C/o Bank of England,
Lando,,, E. C., :h and.

repays

MRS. GORDON LUNDIE
P. 0. BOX 745

SHORT HILLS. N. J.

4I
2-%

-14

"L.

Hj
vo/LP

ut4-4

ot-0

Gt#24-e-f-

aAJ

I4A

ck-AAA

4-r73

t;) cUce,
A.54-1,1
(1A1

11`-tAl

c-,L7
'ck,vtik

wal

FEDERAL RESERVE BANK
OF BOSTON
FREDERIC H.CURTISS
CHAIR MAN

November 28, 1930
November 28, 1930

RP:CEIVED
Mr. George L. Harrison, Governor,
Federal Reserve Bank,
New York, N.Y.

DEC 2

Ct. L.. H.

Dear Governor Harri on:
r oof November 5 upon my return from the West; also
I find your lett d?(A
under separate cover, copy of the book "Interpretations of Federal
Reserve Policy in the speeches and writings of Benjamin Strong".

I can assure you that I anoreciate your thoughtfulness and
courtesy in sending me this publication, which I shall be very
I need not tell you
glad to read and to add to my library.
how greatly I admired Governor Strong and aooreciate the great
value of the serviceshe rendered to the Federal Reserve system
during the time he was Governor of the Federal Reserve Bank of
New York.
With warmest personal regards and hoping to have the pleasure of
seeing you soon after your return from Europe, I am
Sincerely yours,

Chairman.

FHC/D

1930

Translation

14'

Paris,
November 28, 1930.

BANQUE DE FRANCE

TA.

k/402-16

THE GOVERNOR OF THE BANQUE DE FRANCE`
Mr. George L. Harrison,
Governor of The Federal Reserve Bank of New York.

My dear Mr. Governor,

I have just received six copies of the volume
which is edited under the auspices of the Federal Reserve Bank of New York,
and devoted to the writings and speeches of your lamented predecessor,
Benjamin Strong.

I thank you most cordially for sending them to me;

I greatly appreciate the gift.

No better homage could be paid to the

great personality of Governor Benjamin Strong, and to his intelligence
and kindness, than thus to collect and fix, in concrete form, the expression of his generous thought.

Mr. Burgess acquitted himself of the task which you
entrusted to him with his usual competence;

he has put into clear relief

the fundamental ideas of Governor Strong's ptilicies.

For us, who cherish so

faithfully the memory of the great departed friend, this work

serves as

an occasion to recall the bonds of collaboration which came to be formed
between our two Banks, under his generous guidance.

Again, Mr. Governor, I offer you my thanks and the
expression of my personal regard.

(Signed)

C. MORET.

ranr

Paris, le 28 Novembre 1930.

R C PARIS N° 70.726

DEC 1 0 1930
c_CA,

J(c), _.(:),Itikyyletostv

.)3(1/lepte de t

George L. HARRISON, Gouverneur de la Banque de Reserve
Federale de New-York.

Jher Eonsieur le Gouverneur,

Je viens de recevoir six exemplaires du volume,

&lite par les soins de is Banque de Reserve Federale de
New-York, et consacre aux ecrits et discours de votre recrette predecesseur Benjamin Strong. Je vous remercie bien

vivement de cet envoi, que papprecie tout particulierement.

On ne pouvait rendre un meilleur homage a la haute personnalite du Gouverneur Benjamin Strong, et a ses qualites
d'intelligence et de coeur, que de recueillir et de fixer,

d'une maniere concrete, l'expression de sa genereuse pensee.
Burgess s'est acquitte,avec sa competence habituelle, de is tache que vous lui aviez confiee; it a clairement mis en valeur les idees fondamentales de is politique
du Gouverneur Strong. Cet ouvrage est, pour nous, qui pardons

Paris,
November 28, 1930.

BANQUE DE FRANCE
Research Department

My dear Mr.

We have just received the copies of the
book in which you have collected the writings and speeches
of the lamented Governor r'enjamin Strang.

It is with real interest that I read these

pages, which set forth the expression of his clear intelligence
and of his generous thought.

They refreshed the faithful recol-

lection which I have of the cordial relations which I enjoyed,
during my stay in :Jeer fork, with your former Governor, and of

the gracious welcome which he always granted me.

Yours etc.,

SIGNED

Mr. W. Randolph Burgess,
Deputy Governor,
Federal Reserve Bank of New York.

l. (e-tf.-

e-, )-

aro'

adyae

w 4
-

Novembre

/9:30.

ee",, ice,Oed

Cher Lonsieur Burgess,

Nous venons de recevoir les exemplaires de
l'ouvrage dans lequel vous avez reuni les ecrits et les
discours du regrette Gouverneur Benjamin Strong .
Vest avec un reel inter'et que j'ai lu ces
pages oU j'ai retrouve l'expression de sa claire

intelligence et de sa genereuse pensee

Elles ont ravive

le fidele souvenir que je garde des relations cordiales
que j'ai entretenues,

lors de mon sejour 111, New-York, avec

votre ancien Gouverneur, et de l'accueil toujours si
bienveillant qu'il me reservait

Veuillez agreer, je vous prie, cher
L.onsieur Burgess, avec mon bien sympathique souvenir,

l'assurance de mes sentiments tres cordialement devoues,

ilLi/z)thA

W. Randolph BURGESS,
Deputy-Governor,
Federal Reserve Bank of New-York.
Iv:.

iLL71

Budapest, 27th November 1930

National Bank of' Hungary

r"c"r",F-tVir'D

Goverrnor

DEC 10 1930

G. L. H.
Dec./. Governor Harrison,

I have received your letter of the 5th

November and two copies of the book containing the writings and
speeches of late Benjamin Strong and be

to express to you my

sincerest thanks for your kinC_ness to have awarded to me this

valuable work of Dr. Burgess' which gives a fine picture of the
distinguished personality of Governor Strong.

Believe ne, dear Governor Harrison,
Yours sincerely,

sir. George L. Harrison,

Governor, Federal

eserve Bank of New York,

New
Y
N.Y. U.S.A.

Deiterreicf)ifdy Tationalbanh.

Ter Tralibent.

sat

-o-

Vienna, November 26th, 1930.

RF-cEivEzo
DEC 10 1930
Dear Mr.Governor,

I beg to acknowledge with best thanO the receipt
of the two copies,advised by your favour of November
5th, of the collection of writings and speeches of the
late Governor Benjamin Strong, illustrating the policy
of the Federal Reserve Banks. Considering the decisive
role which Benjamin Strong was called to play at the
foundation and development of the Federal Reserve System
his statements on the policy of the Federal Reserve BanA
which I partly knew from the Hearings before the House
Committee and from other publications, are of greatest
significance. It deserves full appreciation to have
summarized all these excellent speeches and articles.
Together with the work of Paul M.Warburg,which I have

finished to study

just now, the collection of

Benjamin Strong's "Interpretations", most accurately
edited by 4.Randolph Burgess, constitute an exhaustive

and very instructive information on the origin,working
and the intentions of the Federal Reserve System
and will be of greatest value for all banks of issue.
I am,therefore, very indebted to you, dear Mr.Governoi
for the attention you kindly paid me by sending these
books.

Believe me

Very faithfully yours

FEDERAL RESERVE BANK
OF

ST.

Louis
November 26, 1930.

Mr. George L. Harrison, Governor,
Federal Reserve Bank,
New York, V. Y.
Dear Governor Harrison:
I have received the collection of
writings and speeches of/ Governor Strong which
you advised in your letter of November 5 was
being sent to MB.
It is needless to say that
I am greatly pleased to have this book, for it
calls to remembrance the personality of the man
himself.

I know you could not do it, as you
were in Europe Alen the book was sent out, but
I would have liked it very much if I could have
had your signature in the book as presenting it.
Yours sincerely,
cit--7:

Governor.

//4_

RIGA, the 26th November,
01

penColv50

LATVIJAS/BANKA
GALVENAIS'DIREKTORS

FC9

DIRECTR GENERAL

1930

Dear Mr. Harrison,

I have pleasure in acknowledging receipt of
your favour of November 5,1930, and in advising you that
the
copy of
Interpretations of Federal Reserve Policy
in the speeches and writings of Benjamin
Strong, edited by W. Randolph Burgess
forwarded separately has

come safely

to hcl.ra.

Please accept my best thanks for furnishing
me with that useful publication which I shall read with
great interest.
Yours very truly

Mr. George L.Harrison,
Governor,Federal Reserve Bank
of New 'fork,

New

York.

=============

ALS.
J. M. Kukurs, Rigs 623

44*
1101°P1

40,40

riovumbrIr 26, 1960.

Dear Mr. Youngman:

Thank you for smading me the ?roof of th3 most
:.ad sympathetic review of Governor Strong'

book.

That will be a splendid hca? in ntleing the book known to
the public.

Very truly yours,

Mr. E. H. Youngman,
71 Murray Street, New York City'.
771113.11

BANQUE NATIONALE

Beograd,November 35th,1930.

DU ROYAUME DE YOUGOSLAVIE

GOUVERNEUR

r 170 F:.. I v 0

1114)

DEC 10 NW

Q. L.
Dear Governor Harrison,

I beg to acknowledge the receipt of your

letter of the 5th inst. and wish to express many
thanks for tue courtesy of sending me such a valuable
copy of a book as the collection of writings and
speeches of late 3enjamin Strong.

I am really pleased to have such an
exquisite work in my possession and thanking you
again, I remain dear la.. Harrison

lours faitafully,

hr. G. L. Harrison
Governor of the 2ederal heseiNe Bank of New York
New York. U.S.A.

.4 0 e

-/fer

/4.

Mexico City, November 25 1950#--1EC 1- 1930

J.. E. O.
Y

Mr. J. E. Crane, Deputy Governor,
Cio. FEDERAL RESERVE BANK,
New York City, New York.

Dear Sir,

We have received your favor of 11th instant,
addressed to our Managing Director Mr. Agustin Legorreta,
at present in your city, and also have received the three

conies of the collection of writings and speeches of Benjamin
Strong which you so kindly sent him.

Please accept our best thanks,on behalf of
Mr. Legorreta, for the interesting publication, and believe
us to be, dear Sir,

rmv

Yours faithfully,

BAYCO NACIONAL DE MEXICO, S. A.

FEDERAL RESERVE BANK

OF NEW YORK

OFFE CORRESPONDENCE
To

Mr. Mao

FROM

DATE

November 25, 1950.

SUBJECT:

L. R. Rounds

Kr. Burgess hs made errnre;cments so thet the

royalties on the recently published book of Benjamin Strone's writings and speeches will be added to the fund 1 ft by Ur. Strong for
the benefit of the employees of this bank.
Harper & Brothers have been instructed to

remit a check for the royalties as they accrue, to Mr. Case at
Vile bank.

Mr. Case will tern the checks over for deposit in the

usual wey, ane these edditions to the fund ehoeld ie handled exflatly the same as any other income received to the fund, an appropriate record of course being '.opt es to the source.

It is

my enderetanding that these reyalty payments ere made euarterly.

FEDERAL RESERVE BANK
OF NEW YORK

November 25, 1930.

Your letter of November 13 is received advising that you had instructed Harper & Brothers with respect to
the disposition of the royalties on the recently published book
of Benjamin Strong's writing and speeches.

I note that it is your

wish that these royalties be added to the fund left by 1,:r. Strong

for the benefit of the employees of the bank.
Your instructions will be carried out, and

may I at this time thank you in behalf of the employees of the
bank for your generous action in making this disposition of the
royalties for the benefit of this fund.
Sincerely,

Mr. .. R. Burgess
Federal Reserve Bank of New York
New York, N.Y.

November 25, 1930.

Dear Mr. Burgess:
i/
Your letter of November 13 is received ad-

vising that you had instructed Harper & Brothers with respect to
the disposition of the royalties on the recently published book

of Benjamin Strong's writig and speeches.

I note that it is your

wish t!--,at thele royalties be added to the fund left by Mr. Strong

for the benefit of the employees of the bank.

Your instructions will be carried out, %nd
may I et this time thank you in behelf of the employees of the
bank for your generous action in making this disposition of the
royalties for the benefit of this fund.
Sincerely,

R. Burgess
Federel Reserve Bank of Nei York
New York, N.Y.
Mr.

ESTABLISHED 1846

THE BANKERS MAGAZINE
published by
THE BANKERS PUBLISHING COMPANY
71-73 MURRAY STREET

NEW YORK, U. S. A.

CABLE ADDRESS BANKMAG, NEW "YORK

November 25th., 1930

Dr. W. Randolrh Burgess
Deputy Governor
Federal Reserve Bank of New York
rew York, N.Y.
Dear Dr. Burgess:-

The enclosed review of "Interpretations of Federal Reserve Policy" will appear
in the December number of The Bankers Uagazine.
I thought you might possibly like to have an advance copy.
Cordially yours

ZAY: L

Elmer H.
I d i

unman
o

MRS. BE.'IJAMIN STRONG, SR.
251 WEST 139TH STREET

NEW YORK CITY

cr-

de-a_ 921-0-0-cg-&-ck

t%tAJLL

Bucarest, le24 novembre 1930.

BANQUE NATIONALE
DE ROUMANIE
C7t14.NET DU GOUVEI 4E:JR

r-oF.ivp:0

DEC 10 1930
(. L. H.

Monsieur le Gouverneur,

C'est avec le plus grand plaisir que
je viens vous accuser reception des deux exemplaires de
l'ouvrage de Y. Burgess, de votre Banque, que vous avez eu
l'obligeance de ni'envoyer et dont la lecture rata beaucoup
interessee.

En vous exprimant mes vifs remerciements
pour votre aimable attention, je vous prie d'agreer, Monsieur
le Gouverneur, l'assurance de mes sentiments tres distingu4s.

It is with greatest pleasure that I acknowledge receipt of
the two copies of the book prepared by Mr. Burgess, of your Bank,
which you were kind enough to send me, and the perusal of which
interested me greatly.
Yours with thanks, etc.,
SIGNED

Nowldber 24, 1970.

Dear Mr. McGarrah:

Miss Holmes, in checking over the lists, finds that
I did not send you a copy of the new book of Mr. Strong's writing
and speechee to your New York address, thou0a we have sent some
to Basle.

That is a groat oversight which I am rectifying here-

with, and I know it i., something you will enjoy.
Sincerely yours,

Mr. Gates W. McGarrah,
4C Cedar Street, New York testy.

tY
aJf

BANK OF MONTCLAIR
Alorrrc LAIR , N J

THOMAS W. STEPHENS

PRESIDENT

November 22nd.,

1930.

Gov. George L. Harrison,
Federal Reserve Bank,
New York,
N. Y.
Dear Governor:

at you are abroad, I have delayed
Knowing
acknowledging your lett_r of November 5th. and the splendid
book prepared by Mr. Burgess.
As you know, I arc taking up matters rather
deliberately but am getting stronger and feel increasingly
able to take on more but must be careful, which I believe is
in accordance vdth the advice contained in your good letter
sent to me at Cape Cod some months ago.

The book is a prize and I am slowly reading it
and am sure I shall find it of great interest, not alone on
account of the splendid ability of your predecessor and Mr.
Burgess, the compilor of the book, but Ithat is perhaps more,
owing to my long and warm acquaintance with Governor Strong.

I thank you very much for the book and trust
you will soon be back with us again in the best of health and
spirits.

Very sincerely yours,

TWS.KM

THE NATIONAL

Shawmut
Bank
OF BOSTON
November 22, 1920.
Dear Mr. Bujess:

You were more than kind to send me
copy of your book, "Interpretations
It
of Federal Reserve Policy".
looks very interesting and I shall
read it with a great deal of pleasure.
Mrs. Bucklin and I enjoyed immensely
having you with us and hope you will
come again some time when the golf is
better.
With warmest regards,
Sincerely,
To Mr. W. Randolph Burgess,
Federal Reserve Bank of N.Y.,
New York City.

111

FEDERAL RESERVE BANK OF PHILADELPHIA
925 _HESTNUT STREET

:A
GEORGE W NORRIS. GOVERNOR

RICHARD L.AUSTIN

WILLIAM H HUTT. DEPUTY GOVERNOR
C.A.MS ILHENNY, CASHIER

ALBA B.JOHNSON

CHAIRMAN OF THE BOARD AND
FEDERAL RESERVE AGENT

DEPUTY CHAIRMAN OF THE BOARD

ASSISTANT CASHIERS
W. J. DAVIS

JAMES M.TOY

R.M. MILLER.JR.

S. R. EARL

ARTHUR E.POST
ASSISTANT FEDERAL RESERVE AGENT

ERNEST CHILL
ASSISTANT FEDERAL RESERVE AGENT

November 22nd, 1930.

My dear Yr. Burg
I am very much obliged to you for sending me
a copy of your edited edition of Governor Strong's papers
and addresses, and the copy of Mr. McGarrah's sketch of
the operations of the B. I. S.

It would have been a real misfortune to let
Strong's utterances on Federal Reserve matters be lost.
Reading them is an inspiration, and the book will be invaluable for reference.
There has been so much curiosity as to That the
B. I. S. is really uoing that Mr. McGarrah's address, giving
the first authoritative sketch of its activities is of exceptional interest. I have already shown my copy to several
friends who were eager for just such information as Mr.
McGarrah gives.
With renewed thanks, I am,
Very sincer ly yours,

almY
Governor

Mr. W. Randolph Burgess, Deputy Governor,
Federal Reserve Bank,
New York City.

nAT11.-i±sYLIair)

11,'NOMIU

43(uNlmaiy

CAMBRIDGE. M

TRUSTEES
CHARLES J. BULLOCK, PRESIDENT
ROBERT AMORY. SECRETARY
PAUL C. CABOT, TREASURER

CHARLES FRANCIS ADAMS
FREDERIC H. CURTISS
WALLACE B. DONHAM
LOUIS E. KIRSTEIN
OGDEN L. MILLS
EUGENE V. R. THAYER

Dr. W. Randolph Burb4.ss,
Federal Reserve Bank of New Y
33 Liberty Street,
New York City.

My dear Burgess:

Last night I
volume of Governor Strong's s
copy of which I found on my d
indicating that it was sent w
the things I had seen before;
seen.
I want to thank you f
volume, and to
app

It is a very
Strong's published and. umnub
this form, where they will be
not to be lost sight of.
Hi
or attended with a blare of t
ger, therefore, that his grea
understood or fully appreciat
satisfaction, though one acco
to accomplish this pious task

With best reg

Yours

CJB/A113

8, BISHOPSCATE,
LONDON, E.C. 2.

21 Nov., 1930.

Dear Mr. BuWess,

Thank you so much for your
kindness to Mr. Darling.
Yours sincerely,

W. Randolph Burgess, Esq.,
Federal Reserve Bank,
NEW YORK.

THE LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE.
(UNIVERSITY OF LONDON)
TELEPHONE

HOUGHTON STREET,

H *RN 9783.7.

ALDWYCH,

TELEGRAMS POLECON ICS. ESTRA ND, LONDON.

LONDON, w.c.2.

141st.November 1930
My dear

gess,

I am most exceedingly obliged for
your kindness in sftding me your
edition of Benjamin Strong's speeches
and writings;

it is extremely useful

to have these in collected form.

Please give my regards to the
Governor and believe me to be,
Yours sincerely,

Dr. Randolph Burgess,
Federal Reserve Bank,
New York,

FEDERAL RESERVE BANK
OF ATLANTA
OFFICE OF

CHAIRMAN OF THE BOARD.
FEDERAL RESERVE AGENT.

November 21, 1930.

Dear Governor Harrison:

I have received the book "Interpretations

Of Federal Reserve Policy in the Speeches and Writings of
Benjamin Strong", edited by Doctor Burgess.
I heartily thank you for sending me this
book, and I shall read it with great interest and profit.
With kindest regards and best wishes, I am,
Sincerely yours,

George L. Harrison, Governor,
Federal Reserve Bank of New York,
New York, N. Y.

Helsingfore, Novelaber 20th11960.

pa7c,F7(
DEC 3

1930/

ca. L.
Mr. George L. Harrison,
Governor,
Federal Reserve Bank of New York,
New York.

Dear Mr. Governor,

Your kind letter of the 5th last. as well

as the book "Interpretations of Federal Reserve Policy in
the speeches and writings of Benjamin .Strong"

edited by

Mr. Burgess have duly come to ny hands and I beg to express
to you my sincere thanks far your courtesy to let e have
a copy of this work.

It will be indeed hignly ihterestiag to study
this book which coherently includes the ideas of the
eminent uoveraor about qaestioas of such 6eaeral ii.iportance

as that of the Federal Reserve Policy and the operation of
a Bank of. Issue.

I was happy to follow the ideas of

Governor Strong when he was still in life and I greatly
appreciate the possibility given me by the book to get
still deeper into the sense of his wise mediations.
tdth kind personal regards, believe ma, ,)ear
Mr. Governor,

Yours faithfully

110 EAST 42P:19 STREET
NEW YORK

November 20th, 1.930

Dear Dr. Burkiss

Thank you very much for sending me the cony
of your hook containing; Father's sneeches and writings.
Several of the family have spoken of the book and were very
hearty in their praise for the way you had gotten it up.
I understand also that it has received very favorable
coTTent from the reviewers, which must be very gratifying
to you.

With best regards,

I am

Sincerely yours

FGS:S

R. Burgess
Federal Reserve Bank of New York
New York city, New York
Dr. W.

NOIRGES BANK

BANQUE OE NORVBGE.

OSLO November 20th 1950.

TELEGRAFAORESSE HOVEDBANK

l'FTE177:
,

DEC 2

%.*

1930

Ata

Mr. G.L.Harrison,
G.L.Harrison, Governor,
Federal Reserve Bank of rew York,

New York.
Dear Governor Harrison,

It gave me great pleasure to receive your
letter of the 5th inst., and I beg to thank you very much
for the book sent me, containing a collection of the
writings and speeches of your eminent predecessor, the
late I.7r. Benjnmin Strong, and edited by Dr. VI.Randolph

Burgess.

Especially to us non-Americans it is of very
great interost to have this collection, and I feel sure
that we shall derive benefit from

a thorough perusal of

this most wise and suggestive book.
7,elieve me, dear

r. Governor,

Faithfully yours,

c,/c

NR.

J-30. 3000.

FEDERAL RESERVE BANK OF CHICAGO
230 SOUTH LA SALLE STREET

OFFICE OF THE GOVERNOR

November 19, 1930.

Mr. George t. Harrison,
Federal Reserve Bank of New York,
New York, New York.
Dear Sir:

In Mr. McDougal's absence from the office, this

will acknowledge receipt of a copy of Mr. Burgess' book containing the writings and speeches of Benjamin Strong, to which you
refer in your letter of November 5, and for which I am sure Mr.
McDougal will be very grateful.

Yours very truly,

Secretary to the Governor.

WALTER LICHTENSTEIN

THE
FIRST NATIONAL BANK

EXECUTIVE SECRETARY

OP- CHICAGO

November 19, 1930

Dear

ess:

Many thanks for the copy of Governor Strong's
Speeches and Writings.

I hope I shall not be regarded

as having been too grasping for asking for a free copy.

It was nice to get a glimpse of you in New
York when I was there at the meeting of the Academy.
was only sorry I could not see more of you.
Thanks once more.
Sincerely yours,

Mr. W. Randolph Burgess,
Deputy Governor,
Federal Reserve Bank of New York,
New York, N. Y.

I.9
0561 0

Cm* cif Manhattan d:rnot Tompanv
NEW YORK
BENJAMIN STRONO.JR.

ASSTENT

40 tall Street
November 19, 1930

Dear RandcC4h:

Thank you for your letter of November 3,
enclosing correspondence you have had regarding the new
book. We are delighted with the arrangement you have made
and am sure the Federal Reserve Club should be equally
pleased.
I have heard many very favorable comments
about the book and the way it was put together.

Sin

Mr. V. Randolph Burgess,
Federal Reserve Bank,
33 Liberty Street,
New York, N.Y.

rely y

AON

ittrrgautImdiamwo
7.:intro *Ttwxr
November 18,1930

Dr. W. Randolph Bess
New York Federal Reserve Bank
Liberty Street
New York City
Dear Dr. Burgess:

I should have acknowledged before this the
volume of 6trong's addresses, but for my absence
from town in consequence of a temporary illness.
I am back at "cork now, and have read the book

with the greatest possible pleasure.

It shows

the quality of the addresses that, although I

had read most of them at the time, they take on
an entirely new atmosphere of interest when reread at this distance of time.
Hoping to see you soon, I am,
Yours very truly,

PERSONAL

Vault of 0:144altb'

Konten, E.C.

18th 7ov?, ber, 1930.

Dear Burgess,

I was reading list night your collection
of Governor Strong's papers and I cannot refrain from
writing you a line of thanks.

If I h. d not loved and

revered him before I think you would have persuaded
me to do so now - for his wisdom, his dear pedestrian
common-sense and the magnificent sweep of his humanity
What makes me particularly want to thank you is
Chapter XV.

God bless you for having discovered

this treasure wrapped up in yellow paper and for
giving it to the rest of us.
Yours sincerely,

Dr.Vi.Randolph Burgess.

TELEPHONES.

UNIVERSITY 8200
(me, 3.43.

TRAFALGAR 4100

MERRYLE STANLEY. RIIKEYSER
2060 BROADWAY
NEW YOUR. N. Y.

November 18, 1930

ess, Deputy Governor,
Federal Reserve Bank of New York,
33 Liberty Street,
New York, N. Y.
Dr. 71. Randolph, Bu

Dear Dr. Burgess:Thank you for your cordial note
of November 6th, telling me about your new book,
of which I have received a copy.
I shall read the book with much
interest, and the possibilities are that it may
s,1FFest some editorial comment.
Looking forward to the pleasure
of seeing you soon,
Sincerely yours,

SR:RA

tthv/6-,Jr

Stockholm,18th.November 1930.

C&Aft,a4d
Dear Sir,

In receipt of your esteemed favour
of 5th.inst.we beg to express our sincere thanks for your kindness to hand us a copy of the book entitled:
"Interpretations of Federal Reserve Policy
in the Speeches ana Writings of Benjamin
Strong",

which will certainly prove of much interest to us.
We are,

dear Sir,

Yours truly

SVERIGES RII(SB

10 Mr.George L.Harrison,President,Federal Reserve Bank of New-York,

New-York.

November 18, 1930.

Delay Mr. Crone:

Thank you for the fine ad is your "Long ana
5nort of Its k.'4ory.

It ought tc

conLiderably in

the dis tribution of the book.

Very truly youra,

Mr. John A. Crone,
Financial Bureau,
Consolidated :)re,-;-.3 Aem.,

280 Broadway, New York City.

Ita.H

November 18, 1830.

Dear Mr. Sui::Itlint

It wv.r. most, pla.-.:ant to see you and your family

on Suzday.

I enjoyod it immensely.

Under separate cover 1 am sending along a copy of
the boos of Gavarnor Strang's speeches and writings, wilich

I trust you will enjoy.
Sincerely yours,

Mr. Walter Bucklin,
?resident, Satidmit Shay mut Banc,
Bo;:ton,

PERSOITAL

bank of

(fitiliatte

17th November, 1930.

Dear :.`r. Governor,

I have received your le ter of the 5th
November and the six copies of I,:r.Burgess' collection of

the writings and speeches of Benjamin Strong, which you
said you were sending.

Great thanks are due both for

the idea and for the labour which have made available to
us the thoughts of one of the foremost pioneers of
The copies which you have sent me

central banking.

I shall distribute to the best advantage and for one of
them I am, ever gratefully,
Yours

G.L.Harrison, Esq.

incerely,

--.

BANK FOR INTERN'

SETTLEMENTS

BASLE. November 17, 1930.

The Governor,
Federal Reserve Bank of New York,
NEW YORK.

Dear Sir:

In the temporary absence of the President, I
beg to acknowledge your letter of November 5, 1930, and
to express to you our sincere thanks for the volume
containing the writings and speeches of the late Benjamin
Strong, Esq., which you have been thoughtful enough to
send us.

Faithfully yours,

For the President

e_
a
Alternate of the President.

Dr. Burgess has 3s heel that the royalties/Mb his recent book, "Interpretations

of Federal Reserve Policy, which is a compilation of the speeches and writings of the late
Benjamin Strong, are to be added to the legacy left by Mr. Strong to be used for the benefit
of the Federal Reserve Club.

CL.t=
timoklre15tion of the ;oyalties is a most

way of increasing the size of the

Memorial Fund.

c..laztocifi.Dabr.tiiktiergereernr"

On behalf of the
11011101111101111111%.

&-olt 161r-

hk4

A.A.rit4-44

Club the Federalist extends to him its deep appreciation
414.4.e6ILA

LA- 40.,

11--el

cAm4

ca,f4=r;

4-U-ae-L9
tkA,

6LILAd4_,AAAAIZILls

fra,
C4,34.11:4

rAt-6.-

/44

ita

irk 4A.
AL

0).1i

etA-AP-G-67,--,--

41z-.
(42.

414.4x.4

10-KAA r 4.,-

77;

FEDERAL RESERVE BANK
W J BAILEY.GOvERNOR
C A WORieGTON. DEPUTY GOVERNOR

J W HE

,JEP GOV AND CASHIER

JOHN PHILLIPS.J. ASST CASHIER
E P TYNER. ASST CASHIER

M L M4CLURE

CHAIRMAN BOARD OF DIRECTORS
AND FEDERAL RESERVE AGENT

KANSAS CITY

G E BARLEY.Assr CASHIER
W E PARK.Assr CASHIER
5 H PIPKIN.AssT CASHIER
N R OBERWORTMANN,AssT CASHIER

W. L PETRIKIN
DEPUTY CHAIRMAN
BOARD OF DIRECTORS

A M MC.ADAMS
ASST FEDERAL RESERVE AGENT
AND SECRETARY

November 17, 1930.

Pc:,"orive0
NOV 19 1930

o.
Dear Governor Harrison:

I am in receipt of the book containing
the speeches and articles by Governor Strong on the
Federal Reserve System. I aporeciate this very much
I have not time to
indeed and prize it very highly.
read it as I shall read it but in glancing through it
I can visualize Governor Strong defending those
principles in that way that only he could do. I revere
his mE.mory and have the greatest admiration of the
influence he had in establishing the confidence of the
people in the System.
I thank you most sincerely for your kindness in sending me this book.
Most sincerely yours,

Hon. George L. Harrison,
Governor, Federal Reserve Ba
New York, N. Y.

FEDERAL RESERVE BANK
OF BOSTON

RECEIVED
NOV 17 1930

ROY A.YOUNG

G. L.. H.

GOVERNOR

e %tic/4J

November 14, 1930

Dear Governor Harrison:

This will acknwoledge receipt of your letter of
November 5 and at the sane time advise you that Doctor
Burgesst book entitled "Interpretations of the Federal
Reserve Policy and Speeches and Writings of Benjamin Strong"
reached me today.
I have glanced through that part of it that I was
familiar with and it brought back many pleasant memories.
I assure you that within the next twenty-four hours I will
have read the document from cover to cover with great profit
and enjoyment, and I want to thank you for your thoughtfulness
in sending this information to me.

With warm personal regards, believe

s ever to

Yours sin e

Gover

Governor George L. Harrison
Federal Reserve Bank of New York
New York City, N. Y.

PecEivEo

C.E.MITCHELL
55 WALL STREET

NOV 1 5 1930

NEW YORK

G. L.. H.

November 14, 1930

Dear Governor Harrison,

I am deeply grateful for the book
covering a collection of the writings and
speeches of Benjamin Strong, which came to
The
me with your letter of November 5th.
idea of this book strikes me as most
laudable, and I shall look forward with
pleasure to giving it a careful reading.
urs

Mr. G. L. Harrison, Governor
Federal Reserve Bank
33 Liberty Street
New York City

truly,

40 WALL STREET

November 14, 1930.

Dear Dr. B

'Hi 1$

ess:

Let me thank you most sincerely for
sending me a copy of your book and for the charming
inscription you have-written into it.

I have already started reading your
work and am enjoying it very much, indeed.

It brings

back many recollections of the days that Ben Strong
and I spent in common work.
With kindest regards,
Alw

Dr. Randolph W. Burgess,
33 Liberty Street,
New York City.

PMW.n

BEd

NOV 15 1930

NEW YORK

s sincerely yo rs,

4t,

nov4m:lar 14, 1940.

Dear Lichteantein:
I am happy to send you under :Ifirly4r11-,e cover a copy

of Gov-,,raor Strong17. c2echne and writings.

While the bank

liiitad it is certainly broad oriough to
inclu.le you.

truly yours,

W. Randolph Burgess

Yr. waltr Lichtew;tein,
Executive Secretary,
The First N9ticn!tl Bnnk,
Chicago, Illinois.

FEDERAL RESERVE BANK
MINNEAPOLIS
WILLIAM B GEERY

November 13,1930.

RECEIVED
NOV 1 5 19:30
Dear Governor Harrison:

0. I_ H.

I am today in receipt of a copy
of Dr. Burgess' collection of the writings
and speeches of Benjamin Strong, regarding
which you wrote me on November 5, and Which
I assure you I shall read with a great deal
of pleasure.
Thanking you sincerely for your
kindness-

Yours very truly,

A!-111,
Ar

Mr. George L. Harrison

serve Bank

FEDERAL RESERVE BANK

O F

ST. LO U I S

FEDERAL RESERVE BANK

*
WILLIAM 13.GEERY

MINNEAPOLIS

Dear Dr. Bu

November 13, 1930.

GOvERNOR

NOV 1 5 1930

W. H.

ess:

I am today in receipt of copy of
your collection of the writings of Governor
Strong, which Mr. Harrison kindly sent to me.
I have already read the preface and the introduction, which I have enjoyed extremely, and
am looking forwarding to starting the rest of
the book tonight at home.
I think this is a fine bit of work
on your part and it will be a great contribution
to the Federal Reserve literature.

Tours very truly,

Dr. W. aandolph Burgess
C/
Federal Reserve Bank
Nev York, N.Y.

FEDERAL RESERVE BANK

FEDERAL RESERVE BANK OF SAN FRANCISCO

FEDERAL RESERVE BANK

Jo7a4bar 1S, 1j50.

Dear

ea s

am enclosing 11c:relit:I fa I- you: la:orL..tion

copies of letters which I tinve tddresnea to Uxrpur

Brothers au:! to Mr. :ase in aohnontion with the di4osition of taa rvaties f .= tilt; recently 201i2hel book,.
rnis acne:a to me 1 110-:,; appropriate way of 'Wing !it) tno

_Ize o: tde memorial fund.
Elneerel-t yclIrli

Mr. Benjamin &trung, Jr.,

,01

iinailet;Aa rru6::

4G Whil Street, Mew York Gity.

THIRTY THREE LIBERTY STREET
NEW YORK

November 16, 1J30.

Dear

Case:

I am enclosing herewith a copy of a letter I have
just sent to Harper & Brothers instructing them as to the
disposition of the royalties on the recently published book
of Benjamin Strong's writings and speeches.

I should be glad

if you would undertake to receive these royalties and arrange
their disposition for the benefit of the fund left by Mr.
Strong.

This procedure is agreeable to Mr. Strong's sons

with whom I have discussed the subject.
Sincerely yours,

Mr. J. Herbert Case,
Chairman, Federal Reserve Bank of New York.
New York City.

November

19:0.

Dear Sirs:

It it my deire that the royalties from the recently
published book, "Interpretations of Federal Reserve Policy in
the Speeches and WritinL;J of Benjamin Stmlg," should be paid
int,o a memorial fund. left by Mr. Strond for the benefit of the

employes of this bank.

The account of this fund is now handled

solely by J. Herbert Case, chairman of the board, and I should
appreciate it if until further notice royalty payments would be
made to J. Herbert Casd at the Federal. Reserve Bank of Now York.
Ver7 truly yours,

Harper & Brothers,

East 3rd Street,
New York City

FEDERAL RESERVE BANK OF CHICAGO
230 SOUTH LA SALLE STREET

November 12, 1930

PERSONAL:

Ft7.oerveno

Mr. George L. Harrison
FederalReserve Bank of New York
New York, N. Y.

NOV 14 1930
,

Dear Governor Harrison:

I am in receipt of dour personally signed letter
of NoveMber 5, stating that you have forwarded to me with your
compliments a copy of the book recently edited by Mr. Burgess
and containing a collection of the writings and speeches of
Benjamin Strong.

I am grertly delighted that you should have sent me
a copy of this work, which I shall vblue highly.
Very truly

WAHHH

FEDERAL RESERVE BANK OF CLEVELAN D

OFFICE OF THE GOVERNOR

Psor-r)c-11

NOV 13

1930

G.L.N
November 12, 1930

Dear Governor Harrison:

Thank you for sending
me, with your compliments, copy
of "Interpretations of Federal

Reserve Policy" in the speeches
and writings of Benjamin Strong.

I am naturally very
much pleased to have this volume
and shall find great interest
in reading it.

With full appreciation
of your courtesy, I am,
Si

ely yours,

.T.-2-t-Irlc

Mr. G. L. Harrison, Governor,
Federal Reserve Bank of New Yo
New York, N. Y.

1:4

FEDERAL RESERVE BANK
OF RICHMOND
November 12, 1930

Governor G. L. Harrison
Federal Reserve Bank
New York, N. Y.
Dear Governor Harrison:
I am very !,rateful to you for sending me a
collection of the writing end speeches of Governor Strong edited
I am fortunate enough to have been a rather close
by Dr. Burgess.
observer of Governor Strong in action since the beginning of the
Federal Reserve System, and particularly during the four years that
I learned to regard him ',Pith atfection and
I was in Washington.
with a great deal of admiration, and I am happy to be the owner of
a collection of his speeches and writings.

Always with sincere regards, I am

Faithfully yours

W. W. Hoxton
Chairman and Federal Reserve

Agent

FEDERAL RESERVE BANK OF PHILADELPHIA

THIRD DISTRICT
RICHARD L,AUSTII1.
CHAIRMAN OF THE BOARD

November 12,1930

AND FE0k17ZRESERVE AGENT

NOV 13 1930
George L. Harrison, Esq.
Govenor, Federal Reserve Bank,
New York,
N. Y.

G. L. H.

Dear Governor Harrison It was quite unexpected to be
favored with Governor Strong's writings and speeches, and
I appreciate very much the book containing them received
this morning, which you so kindly sent me.

Governor Strong was so dominating an influence
in the development and operation of the Federal Reserve
System that this book will make most interesting reading
and be a helpful study for those who still are connected
with the System.

Thanking you for remembering me, and with best
regards, believe me,

Very truly yours,

Chairman

W. E. S. STRONG, M. E.
31 NASSAU ST. N Y.

November 12th, 1930.

Dr. W. Randolph Bu ess,
c/o Federal Reserve Bank,
7-rew vork City.

Lear Dr. Burgess:-

I wish to acknowledge, with many thanks, receipt
of the volume you have prepared covering my brother Ben's
articles and speeches on Federal Reserve matters.

While unable, of course, to grasp the value of
his statements, from lack of experience in such matters, yet
I will read it with great interest, owing to numerous discusssions
I had with him over matters relating to the System.
A.,,Aain thanking you for forwarding this volume to me,
I am,

Very truly yours,

FEDERAL RESERVE BANK
OF RICHMOND
November 12, 1930.

RP:OE:WE:0
NOV 13 1930
Dear Governor Harrison:
I am just in receipt of your letter of
the 5th, and there arrived by the same mail the
book to which you referred, a collection of the
writings and speeches of our greatly admired and
I am very much
respected Benjamin Strong.
pleased to have a copy of the book, and after I
have read it I think the very best place for it
will be in our library, where officers and employees
may have access to it.
Cordially yours,

GJS -CCP

ilar.Georae L. Harrison,

Federal Reserve Bank of New York,
New York City.

FEDERAL RESERVE BANK

FEDERAL RESERVE BANK OF MINNEAPOLIS
NINTH DISTRICT

OFFICE OF THE CHAIRMAN
AND FEDERAL RESERVE AGENT

'RECEIVED

JOHN R. MITCHELL

CHAIRMAN AND FEDERAL RESERVE AGENT

140

1 4 1930

0. L. H.
Nov. 12,

19 3 0.

Dear Mr.Harrison:

I have your esteemed favor of the
5th instant, informing me that you are sending a
copy of the book prepared by Mr. Burgess containing
the writing and speeches of Benjamin Strong.
I assure you that this will be
greatly appreciated, as no one

admired Ben Strong

for his sterling qualities and ability more than
the writer.

Mr. George L. Harrison, Governor,
Federal Reserve Bank,
New York.

FEDERAL RESERVE BANK
M. L.M.0 L Up C.

BOARD OF
DIRECTORS
DERAL
RESERVE AGENT

VP-!. L. PETRI KIN

KANSAS CITY

DEPUTY CHAIRMAN
BOARD OF DIRECTORS

A.M. MADAM S.
ASST FEDERAL RESERVE AGENT

.overiber 12, 1930

AHD SECRETARY

W J BAILEY. GOVERNOR
C A WORTHINGTON, DEPUTYGOVERNOR

J W HELM, CAS.,
JOHN PHILLIRS.JP.ASSICSHIER
E. P. TYNER. Ass ,-CASHIER
G. E. BARLEV. ASST CASHIER

M W E PARK. ASS, CASHIER
G H PIPKIN. Ass,. CASHIER

RE:CFIVF-0
NOV 14 1930
L.

Mr. G. L. Harrison,
Federal Reserve Bank of :7ew York,
New York, N. Y.
Dear 1:r. Harrison:

v/
Your letter of the fifth received,
and the book of writings and speeches of Benjamin Strong also came to hand.
I appreciate
very much having this book, and I know it will
I
be very interesting as well as instructive.
was always delighted to hear and see him when I
was in Washington.
7ith regards, I am

McC/L

WALTER LICHTENSTEIN
EXECUTIVE SECRETARY

THE
FIRST NATIONAL BANK

OF CHICAGO

November 12, 1930

Dear burgess:

If your bank is distributing the edition

of Governor Strong's "Speecnes and hritings", do you
suppose I might be favored with a copy also.
of course, appreciate it very much.

I should,

However, if I can-

not get one free of charge, I shall buy one, so do not
hesitate to turn me down.
Sincerely yours,

Dr. W. Randolph Burgess,
Deputy Governor,
Federal iteserve Bank of New York,
New York, N. Y.

FEDERAL RESERVE BANK

THE
FIRST NATIONAL BANK
CHICAGO

MELVIN A TRAY LOR
PRESIDENT

Aovember 12, 1930

ess:
Dear Mr. Bu4//

I am happy indeed to have the compilation
of Governor Strong's writings and speeches which
you have prepared.
I am sure all of us entertain something
of the same character of high regard for the late
Governor, and I can think of no finer tribute you
can pay him than this work of gathering together
for his friends his sound contributions to the
economic literature of the country.
With personal regards,
Sincerely yours,

Mr. W. Randolph Burgess,
Federal 'reserve Bank,

New York, N. Y.

14.

THE PEOPLES NATIONAL BANK
HOO SICK FALLS, N.Y.
DELMER RUNKLE, CRAIRMAN or rue BOARD
I. BURKE SURDAM. JR.. PResmErrr
FRED N. STEVENS. VICE PRESIDENT
JOHN T. CAH/LL, VICE PRESIDENT
ARTHUR A. Mc LINDEN. CASHIER

November 11, 1930.

Mr. George A. Harrison, Governor,
Federal Reserve Bank of New York,
Federal Reserve Station P. 0.,
New York City.
My dear Governor:

I am in receipt of your favor of the
5th inst. advising me that Mr. Burgess of the Federal
Reserve Bank has been making a collection of the writings
and speeches of Benjamin Strong and editing them for
inclusion in a book and that you are sending me a copy of
this book under separate cover with your compliments.
The book has been received and I appreciate
and wish to thank you very much for same. I shall greatly
enjoy reading it and certainly appreciate having a copy.
I am,

Yours very truly,

DR/M

Lord & Taylor

424

FIFTH AVENUE
NNW YORK

OFFICE OF THE PRESIDENT

November 11, 1930

Mr. George L. Harrison,
Federal Reserve Bank of New York,
33 Liberty Street,
New York, N. Y.

Dear Mr. Harrison:

Thank you very much for your letter of November 5th, accompanied by a volume, "Interpretation of Federal Reserve Policy," as set
forth in s)eecl:es of the late 3enjamin Strong.

This is a book of great value to anyone interested in banking.
I an)reciate the gift very much.
sincerely yours,

SWR

BAKER, HOSTETLER

E9- SIDLO

NEWTON D. BAKER

JOSEPH . HOSTETLER
FRANK E. STEVENS
ROGER C. HYATT
M. DE VAUGHN
RAYMOND T. JACKSON

CLAYTON A. OUINTRELL
SYDNEY FAIRBAKJKS

JOSEPH R. FAWCETT
PAUL W. FRUM
JOHN ADAMS

THOMAS L. SIDLO
PAUL PATTERSON
BENJAMIN F. FIERY
HOWARD F. BURNS
ILLIAM H. BEMIS
MYRON B. McCAMMON
LOCKWOOD THOMPSON
DONALD D. WICK
JOHN C. MORLEY
THOMAS J. EDWARDS

T'NION TRUST BUILDING

CLEVELAND

November 11, 1030

Major W. Randolph Bu
Federal Reserve Bank
New York City
Dear Randolph:

Your collection of the writings and speeches of
Mr. Strong arrived yesterday and I put it on my reading
Mr. Strong
shelf with real anticipation of its contents.
always seemed to me to be the most philosophical banker
I
ever knew and so far
the Federal Reserve System
is concerned, of course, he knew it better than anybody.
With warm and grateful reg-rds, believe me
Cordially yours,

NDB:C

Newton D. Baker

TOMPKINS COUNTY NATIONAL BANK
N.Y.

ITHACA,

THE UNDERSECRETARY OF THE TREASURY
WASHINGTON

November 11, 1930.

Dear Dr.

AU7
/ess:

I received your compilation of speeches and writings
of Governor Strong this morning.

I am very glad to have

it and many thanks for sending me a copy.

Sincerely

Ogdef L. Mills,
Undersecr lary of the Treasury.

Dr. W. Randolph Burgess,
Deputy Governor,
Federal Reserve Bank,
New York, N.Y.

I 2 0 BROADWAY, NEW YORK
ROOM 2555

rAl
4 .

C .4

'a
e. ..t

74,P

4. ,,..:.

,..,

OWEN 0 - OUN

Novenber 11, 1930

it'

111!!--qi4
!..!1',

P-31,..

K'LLkitTil.,4
Miss M. McCarrick,
Secretary to Governor George L. Harrison,
Federal Reserve Bank,
33 Liberty St., New York.
Dear Miss McCarrick:

Knowing, of course, that Governor Harrison
hss sailed for Europe, this note is merely for your
records that the volume containing the writing and
speeches of Benjamin Strong which Governor Harrison
sent to Mr. Young has been received.

I shall be delighted

to bring it to Mr. Young's attention upon his return.

Very

34il1 y yours,

THE JOHNS HOPKINS UNIVERSITY
BALTIMORE, MARYLAND
POUTWAILNOMY
JACOB H. HOLLANDER
GEOR0i, E. BARNETT

November 11, 1930.

WILLIAM 0. WETFORTH
BROADUS MITCHELL
GEORGE H. EVANS. JR.
ROY J. BULLOCK
HOWARD E. COOPER

ss,
Mr. W. Randolph Bur
Federal Reserve Bank of New York,
New York City.

Dear Yr. Burgess:

It was kind to send me a copy of the fine
volume you have edited of Governor Strong's speeches
and writings. Your introduction is most sympathetic
and from the nature of things as detailed as is
possible. Now and then a man passes leaving a great.
Lap that will not be filled and only imperfectly grown
Such is the passing of Governor Strong. As a
over.
personality, you of all others know that we shall not
soon look upon the like of him again. As a constructive
influence in the development of the Federal Reserve
System, the loss is irreparable.

With kind regards to you and my other friends
in the Bank, believe me

Faithfully yours,

ovember 11, 1930.

Dear Ur. Van Deusen:
For soma

past kr. c. urgers of this bank has been

at work making a collection of the writings and speeches of
Benjamin Strong and editing thorn fo: inclusion in a book which

might mike these documents available to hankers and students of
banking and eeoaomics generally.

2hi;; work is now completed

and, thinking that it may pi:rove of interest, it gives me great

pleasure to send you a copy under separati; covf
menbs.
Faithfully yours,

J. E. Crane

Deputy GovraJr

Uz. Walter Vaii Deuaan,
C/o Binaeo Gentrale,
chile, Santiago.

with my compli-

November 11, 1910.

Dear Mr. Bogziano:

For some time past Mr. Burgess of this bank has been
at wort making 1 collection of the writings and speeches of
Benjamin Strong and editing them for inclusion in a book which
mifnt make the -e documents available to bankers and students of

beating and economics generally.

Thi: work i

no.s. completed

and, thinktnz that 17, may prove of interest, it gives me great

pleasure to Dead you a copy under separate cover with my complk-

ats.
Faithfully yours,

J. 1,i. Crane

Depu4 Covozuor
Mx.. Ernesto Boggiano,
Reneger, Reserve Bank cif Peru,
Lima, Peru.

ksk.t
11>

Minrember 11, 1950.

Dear Mr. Lagorreta:

For some tie Est Mr. Burgess of this bank has been
It work making a collection of the writingn and speeches of

Benjamin Strong and editing them for inclusion in a book which
might make these documents available to bankers and students
of ban,:ing and economics generally.

This work is no- completed

and, thinking that it mw prove of interest, it gives me great
plelsure to rood you three copies under separate cover with my
compliments.

Faithfully yours,

J. E. Crime
Deputy Governor

Mr. Agustin Legorrota,
Managing Director, Banco Nacional de Mexico, S. A.,
Mexico City, Mexico.

THIRTY THREE LIBERTY STREET
NEW YORK

boovember 10, 1930

Dear Dr. bt

est.>:

I am grateful to you for the volume of speeches
and writings of Governor Strong.

I know it will be Adely read and I congratulate
you upon the manner in which it has been edited.
Very truly yours,

Dr.

w. Randolph burgess,
Deputy Governor,
Federal Reserve Bank of New York,
New fork, A. Y.

-r4A aatarlit

ff.

/1~

Otoo4,,v.

November 10, 1930
Mr. W. Randolph Burgess
Federal Reserve Bank
New York, N. Y.
Dear Mr. Bur
Mr.

ss:

-.,trongls speeches and

,ritings have come, and I am very

glad indeed to have them.

I admire

him very much and you have done a
great service in making his utterances
available.

Yours sincerely.

WILLIAM II. Woo D IN
00 CHURCH STREET
NEW Yowl(

qfP

November 10, 1930

Hon. G. L. Harrison,
Governor,
Federal Reserve Bank,
New York
Dear Governor Harrison:

Please accept my sincere thanks
for the book which you have sent me,- a collection of
the writings and speeches of Benjamin Strong.

I shall

certainly read it with great interest.

With kind regards,
Yours very truly,

CAsJzr-co

FEDERAL RESERVE BOARD
WASHINGTON
ADDRESS OFFICIAL CORRESPONDENCE TO
THE FEDERAL RESERVE BOARD

November 10, 1930.

N251-

Dear Governor Harrison:

I have your note of November 5th, and am eagerly awaiting
the receipt of Mr. Burgess' book on Governor Strong.
go over it with the greatest interest.
Sincerely yours,

Hr. George L. Harrison, Governor,
Federal Reserve Bank,
New York, Y. Y.

I shall

GEO. R.LJAMES
290 TREASURY BUILDING
WAS H I NGTON , D. C.

7ovember 10, 1930.

Yr. George L. Harrison,
c/o Federal aeserve ank,
7.Tew York City.

Dear

Harrison:

Your very kind letter of the 5th
reached me this morning and I appreciate greatly
your kindly courtesy in sending me a copy of the
collection of writings and speeches of the late
'trong.
I shall look forward to the coming
of the book with very great interest for I am sure
that it is a real contribution to the banking and
economic knowledge of the world.

Yours very truly,

FEDERAL RESERVE BOARD
WASH INGTON
OFFICE OF GOVERNOR

November10, 1930.

Honorable George L. Harrison,
Governor, Federal Reserve Bank,
New York City.
Dear Governor Harrison:

Please accept my thanks for your note of
November 5 and for your courtesy in sending me a
copy of the collection of the writing and speeches
by Mr. Benjamin Strong.

I am very glad to have

the book and I shall read it with much interest.

With cordial regarthirf
erely yours,

1/7
ae,*,eet
cYreee*arii
November 10, 1930

Dear Mr

Harrison:

Thank you very much for sending me
Mr. Burgess's book of the writing and speeches of
Benjamin Strong.

I am very glad to have it and

most appreciative of your thought in sending it
to me.

Yours faithfully,

Mr. George L. Harrison, Governor
Federal Reserve Bank of New York
New York City

1 0 1930

November 10, 1910.

Dear !,ir. Youngman:

Let me/thank you for your very interesting and

agreeable letUr of November 7.

I am sure that your men-

tion of the book in the Bankers Magazine will accompltsh
the purpose I Lad in mind of making the book known, and I
shall be much interested in th

comr.:ents wnich you may make.

With cordial regards,
Sincerely yours,

;fir. Elmer H. Youngman,

Editor, Bankers Magazine,
71-7:5 Murray Street,

New York City.
TIRB.11

PRINCETON UNIVERSITY
INTERNATIONAL FINANCE SECTION
( Department of Economics and Social Institutions)

Princeton NewJersey

November 8, 1930

Mr. W. Randolph Burgess
Federal Reserve Bank of New York
New York City
Dear Burgess:

I appreciate very much your kindness in sending me the book containing the important speeches of
Benjami4 Strong. As a great admirer of kr. Strong and
also a friend, I shall read these speeches with much
pleasure.
It was good to see you again the other evenI was sorry to have had
ing at Li.. Rovenskyls dinner.

to leave so unceremoniously early in the evening to
catch my train for Princeton. It was a very pleasant
gathering.
I would like to get from the Federal Reserve
Bank the latest data it has on the subject of the rate
of deposit turnover.. Will you kindly let me have such
information as is available.
I am coming in to see you in the near future
on one of my trips to New York. Ordinarily I am in
the City at least once a week and usually on Thursday.
Sincerely yours,

INGERSOLL-RAND CO.
11 BROADWAY

4IP

EXECUTIVE OFFICE

NEW YORK

e-c-f,.8,1930.

j
George L.Harrison,Esq.,
Governor,
Federal Reserve Bunk
of New York,
33 Liberty St.,New York.

My dear Mr.Harrison:Xr.Saunders has been away for many months on
a trip around the trip.

He 13 at present in France.

On his behalf

I thank you for your letter

of the 5th and the book "Interpretations of Federal
Reserve Policy,

.n the Speeches and Writings of Benjamin

Strong" which you have been kind enough to send him.
I shall hold it for Mr.Saunders and I know that on his
return he will read it with much interest and pleasure.

Sincerely yours,
Carmen Latasa,
Secretary to Mr. Saunders.

F. ABBOT GOODHUE. NEW YORK. PRESIDENT

CHARLES S MCCAIN. NEW YORK
CHAIRMAN, EXECUTIVE COMMITTEE

H. G. P. DEANS. CHICAGO, VICE PRESIDENT
PERCY -I

HARRY SALINGER, CHICAGO. FIRST VICE

'OHNSTON. NEW YORK. TREASURER

CHAIRMAN, EXECUTIVE COMMITTEE

GEORGE E. PIERCE. BOSTON. SECOND VICE

N. NEW YORK. SECRETARY

ROBERT

CHAIRMAN. EXECUTIVE COMMITTEE

AmericonAcceptume Corti)Atil
BroCIclutycIi
Levu Zj )rk

12 0

orneo or

fIU

Execuitvo Seoret(tili

NOVETTB7R

7 th
1 9 3 0

Dr. W. Randolph Sur
Federal Reserve Ban
33 Liberty
New 7ork City.
Dear Dr. Burgess:-

ss,

of New York,

)\
ko(

I have yours of the 6th instant
accompanying a copy of the new book
containing the speeches and writings
of the late Governor Strong which you were
good enough to send me.
Our current Bulletin is going
out today so that I will not be able to give
it deserves but
this fine book the at
will see to it that a revie- is carried in the
next issue.

I expect this book will be eagerly
taken by a large number who will appreciate
the record of Governor Strong's views on the
Federal Reserve System and its operation.
With kind regards, I am
TT

v yours,
e :Jecretary

ESTABLISHED 1846

THE BANKERS MAGAZINE
g)ablish,ed by

THE BANKERS PUBLISHING COMPANY
71 - 73 MURRAY STREET

NEW YORK, U . S . A.

CABLE ADDRESS BANKMAG, NEW YORK

November 7th.,1930

Dr. W. Randolph Burgess
Deputy Governor
Federal Reserve Bank of New York
33 Liberty Street
New York, N.Y.
Dear Dr. Burgess:-

Thank you very much for sending me a copy of "Interpretations of Federal Reserve Policy."
Already I have read your very fine introduction and also the concluding chapter. In the latter I find a statemPnt on page 313 which has interested me greatly and is especially pertinent
to much of the monetary discussion going on these days. This statement is
as follows:"I do not believe and have never believed that any method of fixing
the general level of commodity prices can be devised which would
enable a monetary and credit policy by a bank of issue to accomplish that object."

A statement made by the late Congressman dingo on page 330
has also strongly appealed to me. He raises this question;" That is there in our experience as a people to say that a political board sitting at Washington can tell any one in this country
how more efficiently to conduct his business?"
From conversations I have had with you, I am sure you will
understand why both of these statements have been so greatly appreciated by
myself.

At the first opportunity I shall read the entire volume and
will then make a careful review of it for publication in The Bankers kagazine
and I have no doubt that several of the statements contained in the book will
furnish text for editorials in The Bankers Magazine.
It does not occur to me at the moment how I can be of substantial assistance in making the book known to the public other than by the
means above stat4but you may be sure of my readiness to co-operate with you
in the attainment of this object.

This book brings into strong relief the very great services
to our own country and to the world at large which Governor Strong rendered
by his wise and constructive policies. !y only regret is that some of us did
not fully appreciate this distinguished service during Governor Strong's lifetime.

SHY: L

With kindest personal regards, I am
ordia ly yours
Elmer H.
d

;frZ,117-4-*--.*
0

itv

November 7, 1970.

Dear Doctor Schacht:

It glves me great pleasure to sead you under
separate cover a copy of a book in which are gathered
together the import.ant. speeches and n-ritings of Benjamin

Strong which I think: you will find of interest.

ath cordial req;ards
Sincerely yours,

W. Randolph Burgess
Deputy Governor

Dr. Hjalmar Schacht,
15, Dessauer Strasse,
Berlin-Zenlendorf,
Germany.
TiRE.11

No-Tea:bar 7, 1L O.

Dear Mr. Traylor:

Aftur a good many months there iz at lavt
completed the book of Kr. Stronglh writirlfw and

which I have be

working on.

..pee,-...hes

I know that you will

enjoy it, and I am sendinii; you a copy under separate
cover.

3incerely yours,

Mr. Aelvin A. taylor,
ire..d:zlat., First ,+-Itional lAaa.L. or ,..:hicazo,

Gismo, Illinois.
RIB .11

Nuvaabe 7, 1J :O.

Pear ?rofessor hollander;
Afttia a good many mouths there is at last coo-

2letA the book of Mr. -;:ron's writings and speecnes
7!Itch I have been workini; oa.

I knAv tnat yoU will

aajoy it, and I are sendin6 you a copy u.tdcr :.,,eparate
cover.

Sinocraly yours,

Pi ofewFer Jacob Hollander,
John Ilopkins University,
Taltimo7e, Md.

7913.H

November 7, 19n1.

Dear Mr. Baker:

After a good many months there is at last completed the book of Mr. Strong's writings and speeches
which I have been working on.
it, an

I know that you wjll enjoy

I am sending you a copy under se?arate cover.
Sincerely yours,

Honorable Melton P. Daker,
Union Trust Coati/au,
Clovelrnd
chin.

November 7, 1970.

Dear Mr. Mills:
It give::: me pleazure to send you under separate

cover a book znich I may have mentioned to you containing
the ;peaches and writings of Benjamin Strong, which I have
been working on for some months.
Very truly yours,

Honorable Ogden L. Mills,
Undersecretary of the Trea3ury,

WaAington, D. C.
11118.13

Noveiber 7, 137)0.

Dear Pierre:

It gives me great pleazure to usud you under

aspirate cover a copy of a book in which are othered
together the important r,peech:3s and writings of Benjamin
Strong 7hich I thin...c you will find of interes:.

We have

already mailed several copies to Mr. iicesarfah, but

wanted to send ane to you personally.in addition.
Very truly yours,

Mr. Pierre Queangy,
C/o Beak for International Settlements,
Basle, Switzerland.

Noveber 7, 1970.

Dear Professor Kemmerer:

It gives me great pleasure to rend you undrr
separate cover a copy of a book in which aro gathered
together th.., important speeches and -7ritings of Benjamin

Strong, which I tnin,c you 'ill find of interest.

With cordial regards,
sincerely yours,

Professor E. W. Kemmerer,
Princeton University,
Princeton, New Jersey.

November 6, IWO.

Dear dr. Forbes:
There is being zsiant to you under eva.rate cover ° bopy

of a boor of Lenjamin Strong's 4eaohe3 :and nritings,which Z 944

mire you will find interesting because I kuow Li' your high regard
for gr. Strong.

Perhaps you will thinx

aome vey- of aiding in

mAkiAg tao book known to that very large public uhiat you reach
through your various can:noels..

It is relertsed for !,vas' fir 12.

Very truly yours,

ii.

itaudolpil Burgess
ve.7

ler. B. C. Forbee,
12.0 Fifth Avenue,

Sew York City.

Dear Mr. Younzaaa:

Under separate or I am

you a copy of a Look

just completed of she speachev and

of 1.;enj.a=:.

widen I am cure you Trill find ol iutorebt.
I al:;o have in thf-) back of ay mind the tneuht

it you

at4 be able to be of Tii:Istantial asni5t7inco in linking the book
kac'

t o your public.

be mob apprecintA.

Anythin y u can do in this direcUon will
It is release 2 Cur Uoveabr
Sincerely yours,

. Paradalpti
1.1o2uty G

Mr.

H. Ton:::man,

Baucru magazine,
71. Knrrry P:trcet,

New York City.

Burgeos

novabber 6, IVO.

Deare0? Gilder:
Under separate cover I am sending you a

opy of a

book just coMpleted of the speeches and writings of Benjamin
Strong, which I am sure you will find of interest.
I also have in the back of any mind the thought that

you may be able to be of substantial assintance in making the
book known to your public.

Anything you can do in this direc-

tion will be much appreciated.

It i5 keleased for November 12.

Very truly yours,

W. Randolph Burgess
Deputy Governor

Mr. Rodman Gilder,
C/o The national Association of Credit deli,
1 Park Avenue, New York City.

WRB K

November 6, 19M.

Dear Mr. Li;pmann:
Under separate cover I take pleasure in seailing

you a collection of the opeeche2 and writings of Benjamin
strong, whicn I think you will find of interect, and whic:a

may assist you with ammunition fo

your canon.

leased for November 12.
Sincerely yours,

Mr. Walter Lippman,
C/o The World,

Pulizer Build:Inc
New York Cit..
WRI3.

It is re-

-L;ovomber 6, 19ZO.

Dear fir. Orowther:

Undar .separate cover I as sending you a cox of the
Benjamln Etrong

maim you and I have ascuosed before.

13 just off ..he prdss and is released for November 12.

you will find it interesting, and it occurs to u

I hope

you may see

some ray of helpiag to launch it on the wo:16, since I know your
great interest in Ur. Strong and hi

work.

Very truly yours,

`:. Randolph Bur,L;oss

Deputy. Governor.

L. Samuel Crowther,
Berztla, LIne; D1amd4
111103.11

Novesiber 6, 19:20.

Dear :Ir. Bean:

Under aepAreite cover I am sanding you a copy of a
book just comeleted of the speeches and writings of Benjam.i.n

Str,mg, which I am sure you will find of interest.
I als,; have in the back of my m"nd the thought that
you may be able to be of substantial assi.rtance in making the

book known to your public.

Anything you can do in thi..7 direc-

It iv teleased for November 12.

tion will be much appreciated.

Very truly yours,

W. Randolph Burgess
Deputy Governor

Mr. Robert a. Bean,
Ai orican Acceptance C:ouncill

120 Broadway, New York City.
WIIB.11

Ziovatiber 6, 19W.

Dear lir. rioukz

sopar!Itu cover I am dandingym n co pT of
book juat complete:a of the speeches and rritingr of Denj=da
.(..t3.oug, willed I au ::are you will find of intrweiA.

al= Lhve

bacX of ,74 nAud the thou3ht tdat

you glay be able tc be cr substantial assistance in making t.ho

b4ok kuowa to your public.
will bu much appreciated.

AuytAihg you can 6o in thin direction
Lt in reletucd fc.r HoveMbcr 12.

Very truly yours,

W. RanUolph Uurgess
Deputy GawernoT.

i1r. Howard nook,
(jo

32 Nassau Street,
Now York City.

Aiga4

Pt,

...

[4(1 'le

1314tit
r

; .,g
74

0414

V711

Noveiber 6, 1930.

Dear

Noyes:

I am :=ending alont; under separate cover a copy of a

book of Govornor Strong, s spoechos 7.hd writinzs which I think I

mmtioned to yo before.

It is juat off the press and is re-

lelsed for NovambJr 12.'

I belicve that the uaual raview copy

is being seat to the Tiae5, and I ha7a also given one to Bell,
but I claew you would lice one yourself and would be intercvted
is: seeing that i

was properly launched on tha World.

It would

be nice if you could see your may to reviewing it in tha book
3ection.

Sincerely yours,

Mr. A. D. Noyes,
C/o New York Times,
229 West 4::rd Street,

New York City.
TH13.K

4'.

November 6, 19Z0.

Dear Sprague:

We are mailing to Governor Norman half a dozen copies of the book of
Governor Strong's speeches and writings which has just come from the press.

One of these copies is intended for you, but we mailed them all together as
that was probably the easiest way of doing it, and I have no doubt that the
whole half dozen can find someone to adopt them at the bank.

I hope gel will

like the general scheme and arrangement of it, aad I know you will enjoy going

over the documents, net the lust valuable of which is the address before your
students et Iarvard.
I remember that Then we launched my book someone at the 7.ank of

England, I think

was Lubbock, was good enough to give some thought to the

question of proper publicity in London, and I think talked with a number of
the writers.

I have taken the liberty of suggesting to Harpers that they have

their London man call ueon you to discuss this question, for I know that you
will be interested in thedietribatjeft of the book.

Harpers Till have a number

of review copies to distribute, and you and some of the others can probably
give them ideas as to where they ahoul:'. go.

Layton, of course, should get a

copy, and editors of other important economic journals, ac well as the London
Times and some of the press.

But you will know muci more about that than we do.

I suppose that George will be there when you get this note, and that
you will be having a good time with him.

I wish I were with you.

Sincerely yours,

Mr. O. M. W. Sprague,
Cio Bank of En71and,
London, Aegland.

November 6, 1930.

Dear iLr. Rukeyser:

Mere is beik; sent to you under separate cover
a copy of a book just from the press containing a collection
of the speeches and writings of Benjamin Strong.

I have in

the back of my mind the notion that perhaps you can see same
way to help in making the book known to your wide public.
It is released for November 12.
Sincerely yours,

W. Randolph Burgess
Deputy Governor

Mr. Merryle S. Rukeyser
2860 Broadway, Now York City.

November E, 1930.

Dear Mr. Treman:
For some t!..rle nest Mr. BurgenT of this bank has

been at work making a collr3etion of the writings and speeches
o

Benjamin Strong aid editing them for inclusion in a book

which might make these documents available to bankers and
students of banking and economics generally.

This work is

now completed, and it gives me great pleasure to send you a
copy under separate cover with my complimqnts.
Faithfully yours,

Mr. R. R. Treman,
Ithaca, New York.

A COPY OF THIS LETTER WAS SENT TO EACH OF THOSE ON THE ATTACHED LISTS.

November 5, 1930.

Dear

For some time past Mr. Burgess of this bank has been
at work making a collection of the writings and speeches of
Banjamin Strong and editing them for inclusion in a book which

might make these documents available to bankers and students of
banking and economics generally.

This work is now completed

and, thinking that they may prove of interest it gives me great
a copy
copies under separate cover with my
pleasure to send you
compliments.

Faithfully yours,

ATTACHED LEitAR WAS SENT TO EACH OF THE FOLLOWING

A COPY OF

Federal Reserve Board

Honorable Eugene Meyer
Mr. Charles S. Hamlin
Mr. Adolph C. Miller

Mr. Edward H. Cunningham
Mr. George R. James

Governors of the Federal Reserve Banks
Hon. Roy A. Young,
Boston, Mass.

Mr. James B. McDougal,
Chicago, Ill.

Mr. George W. Norris,
Philadelphia, Pa.

Mr. William McC. Martin,
St. Louis, Mo.

Mr. E. R. Fancher,
Cleveland, Ohio.

Mr. W. B. Geary,
Minneapolis, Minn.

Mr. George J. Seay,
Richmond, Va.

Hon. W. J. Bailey,
Kansas City, Mo.

Mr. Eugene R. Black,
Atlanta, Ga.

Mr. Lynn P. Talley,
Dallas, Texas.
Mr. John U. Calkins,
San Francisco, Cal.

Chairmen of the Federal Reserve Banks
Mr. Frederic H. Curtiss,
Boston, Mass.

Mr. William A. Heath,
Chicago, Ill.

Mr. Richard L. Austin,
Philadelphia, Pa.

Mr. Rolla Wells,
St. Louis, Mo.

Mr. George DeCamp,
Cleveland, Ohio.

Cdr. John P. Mitchell,
Minneapolis, Minn.

Mr. W. W. Hoxton,
Richmond, Va.

Mr. M. L. McClure,
Kansas City, Mo.

Mr. Oscar Newton,
Atlanta, Ga.

Mr. C. C. Walsh,
Dallas, Texas.

Mr. I. B. Newton,
San Francisco, Cal.

A COPY OF THE ATTACHED LETTER WAS SENT TO EACH OF THE FOLLOWING

Directors of the Federal Reserve Banks of New York
Mt. Charles E. Mitchell,
National City Bank,
55 4all Street, New York, N. Y.

Mr. Delmer Runkle,
Peoples National Bank,
Hoosick Falls, New York.

Mr. Samuel 4. Reyburn,
Lord & Taylor,
Fifth Ave. & 38 Street, New York, N. Y.

Mr. T. W. Stephens,
Bank of Montclair,
Montclair, New Jersey.

Mr. Theodore F. Whitmarsh,
Francis H. Leggett & Company,
Thirteenth Ave. & 27 St., New York, N. Y.

Ur. William H. Vioodin,

Mr. Clarence M. Woolley,
American Radiator Company,
40 iest 40 Street, New York, N. Y.

Mr. Owen D. Young,
General Liectric Company,
120 Broadway, New York, N. Y.

Pres., American Car & Foundry Co.,
30 Church Street, New York, N. Y.

Miscellaneous

Honorable Carter Glass,
Richmond, Va.

Mr. William L. Saunders,
11 Broadway, New York, N. Y.

Mr. Jackson E. Reynolds,
First National Bank,
New York, N. Y.

Mr. R. H. Truman,
Ithaca, New York.

Foreign
Doctor G. Vissering,
Pres., De Nederlandsche Bank,
Amsterdam, Holland.
(3)
Mr. A. N. Diomede,
Governor, Banque de Greco,
Athens, Greece.
(1)
Mr. Gates W. MeGarrCI,
Pres., Bank for Internat'l Settlements,
Basle, Switzerland.
(6)

Dr. G. G. Van Buttingha Wichers,
President, De Javasche Bank,
Batavia, Java.
(1)

Numeral indicates number of copies sent.

Mr. I. Bailony,
Governor, Banque Nationale du
Royaume de Yougoslavie,
Belgrade, Yugoslavia. (1)
Dr. Bans Luther,
President, Reichsbank,
Berlin, Germany.
(6)
Mr. Julio Caro,
Manager, Banco de is Republica,
(1)
Bogota, Colombia.
M. Louis Franck,
Governor, Banque Nationale de Belgique,
Brussels, Belgium.
(3)

A COPT OF THE ATTACHED LETTER WAS SENT TO EACH OF 'IBE FOLLOWING

Foreign
Mr. Dinitri M. Burillianu,
Governor, Bancue Nationale de Roumania,
(2)
Bucharest, Roumania.

Mr. K. Vanags,
Director General, Latvijas Banka,
(1)
Riga, Latvia.

Dr. Alex. de Popovics, P. C.,
Governor, Magyar Nemzeti Bank,
Budapest, Hungary.
(2)

Prof. Bonaldo Stringher,
Governor, Banes. d'Italia,
(2)
Rome, Italy.

Mr. Risto Ryti,
Governor, Finlands Bank,
(1)
Helsingfors, Finland.

Mr. Asaen Ivanoff,
Governor, Banque Nationale de Bulgaria,
Administration Centrale,
Sofia, Bulgaria.
(1)

Rt. Hon. Montagu C. Norman, D.C.O.,
Bank of England,
(6)
London, England.

Sveriges Riksbank,
Stockholm, Sweden.

Mr. F. Silveira Zorzi,
Subgerente, Bank of Republic of Uruguay,
(1)
Montevideo, Uruguay.

Mr. E. C. Riddle,
Governor, Commonwealth Bank of Australia,
Sydney, Australia.
(1)

Mr. N. Rygg,
Governor, Norges Bank,
(1)
Oslo, Norway.

Mr. Hisaakira Hijikata,
Governor, Bank of Japan,
Tokyo, Japan.
(6)

Mr. Clement Moret,
Governor, Banque de France,
(6)
Paris, France.

Dr. Richard Reisch,
Pres., Oesterreichische National Bank,
Vienna, Austria.
(2)

Dr. William Pospisil,
Governor, Narodni Banka Ceskoslovenska,
(2)
Prague, Czechoslovakia.

Dr. Wladyslaw Wroblewski,
President, Bank Polski,
(2)
Warsaw, Poland.

Mr. W. H. Clegg,
Governor, South African Reserve Bank,
Pretoria, South Africa. (2)

Doctor G. Bachmann,
President, Banque Nationale Suisse,
Zurich, Switzerland.
(3)

Numeral indicates number of copies sent.

(1)

HARPER &BROTHERS
PUBLISHERS
NEW YORK AND LONDON
ESTABLISHED
:017
CABLE ADDRESS: HAPPSAM
TELEPHONE:ASHLAND1900

49 EAST 33" STREET, NEW Yoltli,N.Y.

October 18, 1930

Dr. W. Randolph Burgess
33 Liberty Street
Yew York City
Dear Dr. B uses
4/7

I have personally taken in hand the several
selling letters and hope that the enclosed
draft will more nearly meet with your anproval.
Please let us have it back promptly with your
suggestions.

Ordway Tead
Economic and Business Books

OT:dc

AMEfZICAN BANKERS
F. N. SHEPHERD, Publisher
JAMES E. CLARK, Editor and Business Manager
WILLIAM R. KUHNS, Associate Editor

JOUR,NfiL

Published Monthly at

110 E. 42nd STREET
NEW YORK CITY
ASHland 8700

October 10, 19;50.

Dr.

;. Randolph Burg
,
Federal Reserve Bank f Eew York,
Federal Aeserve P. O. Station,
;ew York, N. Y.

Dear doctor Burgess:

I am answering your letter of October 9th for Mr. Clark who is ill and absent from the
Thank you for sending us a proof of the Preoffice.
face and Introduction concerning Governor Strong. As
soon as Mr. Clark is back at his desk, I am sure that
he will enjoy reading it.
I look forward to seeing the volume
itself when it is published and reviewing it in the
Journal.
very truly yours,

Associate Editor.

ila:JM

HARPER & BROTHERS
PUBLISHERS
NEW YORK AND LONDON
E 57A BL151-4 ED
1017

CABLE ADDRESS: HARPSAM

TELEPHONE:ASHLANDI900

49I tEAST
.1. 33' STREET, NEw
.

bloat 25, 1930.

Dr. W. Randolph Burgess,
33 Liberty Street,
New York City.
'

Dear Dr.

eSS:

This will acknowledge the frontispiece and photograph
and also your request about the index, which I thoroughly agree with.
I assume you will prepare it from the page proofs
you have had in hand and will return it to us soon
after you have the page proofs.
I trust this will not be much longer delayed.

C"artrartrittirW7-

Ordway Tead
Economic and Business Books
MO

110 EAST 42,:n? STREET
NEW YORK

July 7th, 1930

Dr. W. R. B gess
Deputy Governor
Federal Reserve Bank of New York
New York, New York

Dear Dr. Burgess
Ben has sent me the proofs of
this week-end I have gone over them. Neither
any criticism to make, either constructive or
o-rsonally, feel that the bo3k is a v-ry fine
that you are to be much congratulated on your
matter.

your book and over
Ben nor I could find
destructive and I,
niece of cork and
handling of the

With best regards, I am
Yours

.ry sincere

L41,
PGS:S

.k._ t4I-C-1<-417,72)

A
0 auk of

a7ruk-tt

NEW YORK
BENJAMIN STRONO.JR.
ASSTNICEPRESIDENT

July 2, 1930.

Dr. W. Randolph Bu
33 Liberty Street
New York, N.Y.
Dear Dr. Burgess:

I finally finished going over the book
and suggest very little in the way of changes. I am
sending it today to Phil. and will ask him to get it back
to you as soon as possible.
I do not think it is necessary to take it
up with any of the other members of the family but I did
ask Mr. Warburg to look it over and he was very complimentary
in his remarks about it.
I am leaving tomorrow night for the Vest
Coast and will be back around the first of August.
With best regards,

Sincere

PRESIDENT

ECRETARYAND ASST. TREASURER
PRESIDENT

MERCAN

ST. LO

AISSOURI

FIRST VICE RESIDENT
ROME
ST. JO

T H

OMMERCE BANK &TRUST CO

ENSON.yicE PRESIDENT
COUNTY SAVINGS BANK

SOUTH BEND,INDIANA

SECOND VICE PRESIDENT
HARRY J. HAAS, VICE PRESIDENT

FIRST NATIONAL BANK

PHIL A DELPHI A, PA.
TREASURER

MifiRICAN

BANKERS

W. ESPEY A LBIG, SECRETARY

SAVINGS BANK DIVISION
JAMES E. BAUMMANAGER
PROTECTIVE DEPARTMENT

ASSOCIATION

REUBENA.LEWIS4m,sEcinmily

HO EAST 42N_D STREET

EDGAR E. MOUNTJOy, SECRETARY

GRANT Mc PHERRIN, PRESIDENT
CENTRAL NATIONAL BANK &TRUSTCOMPANV

NEW YORK,N.Y.

DES MOINES, IOWA

EXECUTIVE MANAGER

TRUST COMPANY DIVISION

NATIONAL BANK DIVISION
FRANK W.SIMMONDS, SECRETARY

F. N. SHEPHERD

BRANCH OFFICE
708-9 COLORADO BUILDING, WASHINGTON, D.C.

GENERAL COUNSEL
THOMAS B. PATON

WILLIAM G. Firzwi LSON

DEPUTY MANAGERS

CABLE ADDRESS :A BAN; NEWYORK

Atm 13, 1930

Mr. W. Randolph Burgess
Federal Reserve Bank of New York
Federal Reserve P. 0. Station
New York City
Dear Mr. Burgess:

Thank you for your letter of June 12.

While we have invariably avoided reviewing
the careers of bankers, I nevertheless will be glad
to see your review of Governor Strong's career.
Cordi= ly yours,

American Ba

JEC:FL

itor
era Association Journal

STATE BANK DIVISION
EDITOR OF THE JOURNAL
JAMES E. CLARK

April 11, 19ZO.

Dear Ur. fond:

returning horewith Chapters VIII, IX, and

XVII, of Int,:rpretations of Federal Reserve Policy with

the original charts called for in the text.

We are working at the Introduction and Preface
and hope to have them ready e7i.rly next week.

Very truly yours,

W. itandolph Burgess
Assi;:tant

Mr. Ordway Toad,
C/o Harper & Brothers,
4g East ZZrd Street,
New York City.
WRB.H
encl.

Federal Reserve k

Link of iitartilatfan Tri-mt Tanyanu
NEW YORK
BENJAMIN STRONG,JIR.
ASST:VIpE PRESIDENT

-,rch 6, 1930.

Mr. W. Randolph
33 Liberty Street,
New York, New York.
Dear Dr. Burgess:

Thank you for sending me copy of the
oreface and introduction for your book which I will go
over thoroughly at the first opportunity.
I think I will also ask my Uncle Will

to have a louk at it, and it might be a good idea to
have Phil do so as well.
Si

erely yours,

kip

THE NORTH
AMERICAN REVIEW
FOUNDED IN THE YEAR IRIS
9 EAST 377.:' STREET
NEW YORK

PRESIDENT'S
OFFICE

December 2nd,1929

Dear : r. su
I
1

lish to ac

o wl

zi.L.tv your courteous

er of November 29th and to urLa that our

su,c,:)stion for au article from your hand be
not 1);:t too far back in your mind.

l'heoa are

days when o "ds of Authority era much needed.

3elieve me,

cordially yours,
.-and o11.1 liurgess,

Federal :Reserve dank,
New York, N. Y.

'So

.2ioveMber 29, 1929.

Ur. Mahoney:
I are obliged to you for your note of November 21

giving permission to urc the crticle by Benjamin Strong in
the Korth American Review.
Same time I should like to undertake an article
for ;rou, but I cannot See my way to it for some ,ieuks to come.

I .hall keep your invitation in the back of ray mind.
Very truly yours,

Mr. Walter B. Mahoney,
Prebident, north: Americsn Review,
9 East 37th Street, New York City.

THE NORTH
AMERICAN REVIEW
FNDED 1N THE Y

SIP

1815

1.11#

9 EAST 37T" STREET
NEW YORK

CI it°

T'S

OFFICE

November 27th,1929

.)ear Lir. burgess:

in re_Ily to your request of the 26th,
for 1-armission to use an article by Jen strong
which al)peared in The North americwi .3evie),v, let

me .,,ssu.re you that such parinitision is gladly ex-

tended to you for inclusion in the volume about
to be published.

I do wish it ,dere possible that you

1414

yourself mie;ht be persuaded to undertake a brie

IV1k

article for us on the topic with which you are
most familiar

and

which,to my mind, is at present

the :uost important issue before the public the
coming year.

Jelieve

ins,

;.iincerfly yours,
_tiandolphf 3urgass,
-

aserve 4Lent,
k,

fo;
r,,

tr
November 26, 1929.

Mr. Walter B. Mahoney,
President, North American Review,

9 Est 7th Street, New York City.
Deal

I am engaged in preparing for publication a small volua:e

of the writins and speeches of Benjamin Strong.

I should like to

include in that volume the article prepared by Mr. Strong for the
North American Review of April, 1918, entitled *War Loans vs. Buslaess
as Usual."

To that and I should greatly apprecite your permission

to reprint this article in the book, giving, of course, proper credit.
The book is to be published by Harpers.
Very truly yours,

W. RshOolph Burgess
Assistant Federal Reserve Agent.

WEB.H