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A llan

S pro ul

Ken tfield , C alifornia



Dear Al:
I ie < sorry to have to run off last week without
r. 3
really 3r.ying good-bye. T'-'ank you a sain for tailing ne in
and nr.king r e feel at home as ;;ou always do*
My talk with David Rockefeller difl not turn up
any thins new; it confirmed that Marriner, with the sup­
port of the labor boys and without an informed opposition,
put over the recommendations on the "structure of the
System in the report of the Commission on Money and Credit.
Dr-yid excused his failure to dispent hy saying that he
relied on the general dissent in the preface of the report,
and feared that if he dissented specifically to this sec­
tion without expressing other specific dissents!, it would
look as if he approved of several things concerning which
he bad r&sorvationc. Pretty weak.
I have written. Henry Ws.llich suggesting that he
take another look at this part of the report, which he
treated pretty cavalierly in the Saturday Review article*
And I have urged John Davenport (Fortune) to continue the
attack. Maybe it will be useful, a%so, to put a bee in the
ears of Elliot Bell r>nd Murray Rossant* There is work to bo
r '. o n e • I hope that we shall have the support of the rest of
the Sirsten, including the Chairman; he is always stressing
the word "Federal” in our name.
With best regards* Take care of yourself.

P. 3. For the accounts, I used the Corey car for eT^ri'tf--to Englewood for dinner and for the finrl trip to Idlewild. "

Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102