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http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  -...41.44.14.44-.4444...:--..,•  •  •  Collection: Paul A. Volcker Papers Call Number: MC279  Box 7  Preferred Citation: Congratulatory Letters:"F-G", 1979; Paul A. Volcker Papers, Box 7; Public Policy Papers, Department of Rare Books and Special Collections, Princeton University Library Find it online: http://findingaids.princeton.edu/collections/MC279/c114 and https://fraser.stlouisfed.org/archival/5297  The digitization ofthis collection was made possible by the Federal Reserve Bank of St. Louis.  From the collections of the Seeley G. Mudd Manuscript Library, Princeton, NJ These documents can only be used for educational and research purposes ("fair use") as per United States copyright law. By accessing this file, all users agree that their use falls within fair use as defined by the copyright law of the United States. They further agree to request permission of the Princeton University Library (and pay any fees, if applicable) if they plan to publish, broadcast, or otherwise disseminate this material. This includes all forms of electronic distribution. Copyright The copyright law of the United States (Title 17, United States Code) governs the making of photocopies or other reproductions of copyrighted material. Under certain conditions specified in the law, libraries and archives are authorized to furnish a photocopy or other reproduction. One of these specified conditions is that the photocopy or other reproduction is not to be "used for any purpose other than private study, scholarship or research." If a user makes a request for, or later uses, a photocopy or other reproduction for purposes not permitted as fair use under the copyright law of the United States, that user may be liable for copyright infringement.  Policy on Digitized Collections Digitized collections are made accessible for research purposes. Princeton University has indicated what it knows about the copyrights and rights of privacy, publicity or trademark in its finding aids. However, due to the nature of archival collections, it is not always possible to identify this information. Princeton University is eager to hear from any rights owners, so that it may provide accurate information. When a rights issue needs to be addressed, upon request Princeton University will remove the material from public view while it reviews the claim. Inquiries about this material can be directed to: Seeley G. Mudd Manuscript Library 65 Olden Street Princeton, NJ 08540 609-258-6345 609-258-3385 (fax) mudd@princeton.edu   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 16, 1979  Dear Irving: Honor, privilege and--let's face it-stimulating personal challenge. Don't let me get isolated down here, and many thanks for wttting. Sincerely,  Paul A. Volcker  Mk. Irving S. Friedman Senior Vice President and Senior Adviser for International Operations Citibank, N.A. 399 Park Avenue New York, N. Y. 10022 PAV;jrg   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Citibank, N.A. 399 Fark Avenue New York, N.Y. 10022  Irving S.Friedman Senior Vice President and Senior Adviser for International Operations  • -,  (7)  July 31, 1979  CF;')  -T1  -7-i  GD  Mr. Paul A. Volcker Chairman Board of Governors Federal Reserve System Washington, D. C. 20551  •••••••••  Dear Paul: Like everyone else, I am most delighted with your new appointment. It is great for the cou ntry though, of course, it will be extremely arduou s and a great sacrifice in many different ways. It is, however, always a great honor and privilege to serve your country. I am sure that you will agree. Sincerely,  Tottoo),  J  ) f,Qait  kY,  )-ttitwAl 4AA qrdAtki   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Au&u:it 7, 1979  Dealt:  Joe: appreciato the note -- and even more your  concern.  imismosimmily hopeful we can get e satisfscLory  bill tirts year, but Les going to todis sole Nork on Lhe part of Amy. 1 know the risks If wo don't  Sincerely,  Paul A. Wacker -  Mr. Joseph 7. imbeys Jr. Cbmiratima of the lewd *ad Prisaidset Stoma Nations' Seek of 00060cticut State Nations1 WNW Uridsuport, Cisommeticet 06604 PAV:mhw   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  State National BANK OF CONNECTICUT  State National Tower Bridgeport, Connecticut 06604 Telephone:(203) 333-1131 Telex: 964257  THE NATION'S OLDEST NATIONAL BANK  JOSEPH F. FAHEY, JR. CHAIRMAN OF THE BOARD AND PRESIDENT  July 26, 1979  Mr. Paul A. Volcker, President Federal Reserve Bank of New York Federal Reserve P. 0. Station 10045 New York, New York Dear Paul: Congratulations! You were the only candidate for us, and obviously the entire financial community is extremely pleased. I know the economy must be your first priority; however, I am sure you will also direct your attention to the membership situation at an appropriate time. It's been two years now since our ad hoc committee attempted to offer some solutions, and, as you know, since that time it's been mostly unrewarding rhetoric. I know our patience is coming to an end, and unless there is some reasonable relief from the economic burden in the next year or so I suspect a lot of the friends of the Fed will have to make some undesirable decisions. Best wishes and good luck. Sincerely,  os  F. Fahey, Jr.  JFF:pms  RECEIVED JUL '6 0 1979 ....  ATI ENDEU hi  ........   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Professor David Fand Department of Economics College of Liberal Arts Wayne State University Detroit, Michigan 48202 Dear Dave: As I come out from under, I want you to know that your letter of congratulations and good wishes is very much appreciated.  I will only claim that I can  appreciate the challenge and the need for stability. And we will also need understanding from those so well informed as you. Thanks so much for writing. Sincerely,  Paul A. Volcker  PAV:tb  UNIVERSITY E T A T S E N Y A W 02 DETROIT, MICHIGAN 482  S COLLEGE OF LIBERAL ART  ICS DEPARTMENT OF ECONOM  August 1, 1979  esident Mr. Paul Volcker, Pr of New York Federal Reserve Bank ion Federal Reserve Stat 5 New York, N.Y. 1004 Dear Paul: rter arn that President Ca le to d te gh li de s wa I Like many others, d of Governors of the ar Bo e th of an rm ai Ch as nominated you to serve Federal Reserve System. g ry wisely in selectin ve en os ch s ha t en id I believe that the Pres background to ilities and unique ab y ar in rd ao tr ex and ur someone with yo perilous times. You e es th in cy li po ry e economy guide this nations' moneta e of stability in th ns se a g in or st re in eed sake your colleagues must succ our sake and for the r fo re tu fu e th r ce fo and a feeling of confiden e. of many others on this glob this high your appointment to on es sh wi st be d an s on Congratulati office.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Sjmeerely,  F Da id Fand s Professor of Economic p, row r•N _  <ta..c•  II  V = liww)  9 1919 C".  .I.  .1  ATTENDED TO /sb  .1•11110.1...   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Tom: Many thanks for the note--and I do expect to see something of you down here. Sincerely,  Paul A. Volcker  Mr. Thomas L. Farmer   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ),/ afetzte eettf. s1'j  Dear Dave: uf-rAkt ?tour lei.te-r of—Congfatulations and e y much appreciated •ood wishes is vh  Lew viaftukt teu  a iked t4 aid -te  4,Thanks so much for writing. Sincerely,  ax s ag) glak“ . aijae  ge4,0-  a4--(914-'  aw(   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  MISC 91 (1 /78)  FEDERAL RESERVE BANK OF NEW YORK Date •  To 40414(4 Of From  Jahn  Hopkins Heirs  Please: O Attend to  O For your information  O Note and return O Note and forward  O For your files O As per conversation  to Files  O  • As requested  See (phone) me  O For your comments  re attached  and suggestions  Ei  O Prepare reply for my signature  Does attached meet with your approval?  O For signature, if you approve  Other remarks: — ef4 It/ 4•At 1 4.‘74 ifh“d4).....1241-7s:;44-)4 -471" 4T-"'"Le14 44 ce1  = et-44d <off • P1-1-44 t 4•-•2• -esir 41'7vi->414.4"-_ /4424,t,  , 4it me-414  .44.04114-4.  7-1-41   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  THOMAS L. FARMER  August 1, 1979  Dear Paul, I am delighted that you ar e moving back to Washington and lo ok forward to continuing our longstanding collaboration. Best regards. Sincerely,  TLF:wrw The Hon. Paul A. Volker, Ch airman Federal Reserve Board of Ne w York 33 Liberty Street New York, New York 10045   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Dear Bob: As I come out from under, let mr say how much I appreciate your note on my appointment.  I' •ll  need some of that luck--and I count on constructive criticism and understanding as we move alons. for writing. Sincerely,  Paul A. Volcker Mr. Robert P. Fechtel Executive Vice President Central Penn National Bank Philadelphia, Pennsylvania PAV;.j  19103  Thanks   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Central Penn National Bank PHILADELPHIA,PA. 19103  ROBERT P. FECHTEL EXECUTIVE VICE PRESIDENT  215-854-3148  August 1, 1979  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street 10045 New York, N.Y. Dear Paul: appointment as Chairman Congratulations on your recent fully agree with all of the of the Federal Reserve System. I ut in the press or heard expressions of opinion I have read abo ms to be the unanimous over radio and TV regarding what see nd an especially well opinion that President Carter has fou job at the Fed. I hope qualified nominee for the challanging k with your new responthat you will have the very best of luc a great deal of satisfaction sibilities and that you will receive done. from a job that I am sure will be well know if there is any Please do not hesitate to let me e. way I might be helpful to you at anytim Sincerely,  ober  RPF/jtm PPAA  twt  P. Fechtel   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  1  August 20, 1979  Dear Mr. Feghali: I appreciate your message.  I can only try my  best. Sincerely,  Paul A. Volcker  Mr. Joseph C. Feghali President Security Pacific International Bank 345 Park Avenue New York, New York 10022  PAV:mrk  -7  )  43:13TA'IT VIC'7 ri —JITIrv)  73D DC  FE)  WADO17(0145)(1-00037.4021S)PD OB/04/79 J142  S?!...011  NYK  TLX SEPACINT  Y.CM,  ZCZ'  'Am FEDI  V3LCKER,  AU3UST 3  197') •  1MAN  1 , r7 " 111  '44171 3  .  ASHIN3T3N, vJ  APPOINTMENT !7 .PL'EASE ACCEPT '.01Y SINCFRF CON3RATULATIONS ON YOUR jOINS ME IN WISHI 1 CHAIRMAN OF THE FEDERAL•RESERVE BOARD. MY STAFF  P,  YOU  c*',UCFSS IN TiIS - rOST IMPORTANT APPOINTMENT..  1 73H JOSEPH C. 7  I  PRESIDENT SECURITY PAOIFIC INTERNATIONAL 3ANK   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  NEW' YORK  _3   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  L  August 9, 1979  Dear Janos: Many thanks for the warm note--but more important I look forward to both your insights and company. Regards from us both. Sincerely,  Paul A. Volcker  Mr. Janos Fekete Deputy President National Bank of Hungary Budapest HUNGARY  NATIONAL BANK OF HUNGARY Budapest  JANOS FEKETE   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  t July  27th, 1979  Deputy President  t.72, -  Dear Paul,  I have learned with great pleasure that the President has chosen you for the highly responsible position of being the Chairman of the Federal Reserve Board. I am well aware of the fact that this is not only an important but a very difficult task as well, and I highly appreciate your decision to accept it. I am sure that your great knowledge and experience will bring us closer to the solution of the US internal as well as the world monetary problems. I sincerely congratulate you and wish you success in your new job as well as happiness in your personal life. Please give my best regards to your wife.  Yours truly,  Mr. Paul Volcker, Chairman of the Board of Governors Federal Reserve System Washington D.C. 20551  ,, 1 5) 0 VS' Vsv auti1/41`1I  UrA  a6L9-   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Mr. Ferr'e: Many thanks for your note.  I of course recall  our meeting very well--my regret is that in this position my next visit may be delayed: Sincerely,  Paul A. Volcker  The Honorable Luis A. Ferrb President of the Senate Commonwealth of Puerto Rico San Juan, Puerto Rico   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  T  Xr/iver/inweyick-Me- o-  August 10, 1979  Mr. Paul Volcker Chairman Federal Reserve Board 20th St. & Constitution Ave. N. W. Washington, D. C. 20551 Dear Mr. Volcker: Upon my return from a trip to Africa and Europe I have read of your appointment as Chairman of the Federal Reserve System. I think President Carter made a wise selection in appointing you for this very sensitive position and, of course, those who have known you are delighted to know that the Federal Reserve System is in such competent hands. It was a pleasure to meet you during the Bankers Conference in Puerto Rico, last December. With kindest regards, Sincerely,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 16, 1979  Mr. Nathan L. Fiat  Dear Nat: Many thamks for the warm note from retirement. It's fellows like you this ssally sake the Government run. Sincerely,  awl A. Volcker  PAV:min.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Nathan L. Fial  12719 August 9, 1979  Hon. Paul Volcker, Chairman Board of Governors Federal Reserve Bank Washington, D. C. 20551 Dear Paul: t Warmest congratulations and best wishes on your appointmen as Chairman of the Board of Governors. man has It is a pleasure and a delight to know that the right ry it gotten the right job. At this critical time in our histo selected. is more important than ever that only the best are t. America and all Americans will benefit by your appointmen nuing I wish you much success in your new position and conti good health to help you carry out your responsibilities.  Sincerely,  FEDERAL RESERVE BANK OF NEW YORK NEW Y0RK,N.Y.I0045 AREA CODE 212 791-6173  PAUL A. VOLCKER PREsiDENT  August 1, 1979  Dear Fredy: ..................................................  ........  I appreciate both your words ..•  and the difficulties we are in.  And I also  know that, in the end, we will sink or swim together. Many thanks. ........................................  Sincerely,  Paul A. Volcker  Mr. Fredy Fischer  ENGLAND  .........  ................  .....  ........  .....................  ••  ................ ..  .................................................................. . . ...................................... .. ........................................... ................................................................  „. ....................................................... ............................... ...................... .........................................  :  .:... •   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ..............................  ..............................................................................  ................................................................................  ............:... . ..... . . ........................................................ ...... ............... .............................................................................................. ........ . . ...... . . .....   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  July 31, 1979  Philip J. Fitzpatrick Assistant Fiscal Assistant Secretary (Financing) Office of the Secretary Treasury Department Washington, DC 20220 Dear Paul: This is a letter of congratulations on your new appointment and welcome back to Washington. More importantly, however, it is both an offer of help and/or an appeal for help in so far as my professional career is concerned. I will not go into detail in this letter, but respectfully request your attention when your schedule permits. Sincerely,  itzpatr ck Philip Assistant Fiscal Assistant Secretary (Financing)  Mr. Paul A. Volcker Chairman Federal Reserve Board 20th & C Street, NW Washington, DC 20551  ot3   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  T)ear Joe: Many thanks for the note. of the problems.  / have some appreciation  All I can do is try my best.  All the best. Sincerely,  Paul A. Volcker  Mr. J. B. Flavin Chairman Chief Executive Officer The Singer Company Thirty Rockefeller Plaza New York, New York 11120  PAV:smk   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  SINGER J. B. FLAVIN CHAIRMAN CHIEF EXECUTIVE OFFICER  July 26, 1979  Mr. Paul A. Volcker Federal Reserve Bank of New York Federal Reserve P.O. Station New York, New York 10045 Dear Paul: I join with millions of others who are extremely pleased with your appointment as Chairman of the Federal Reserve. It ably is an extremely important time -- prob the most important monetarily in the history of our country -- and therefore The your appointment is most significant. stories in the media indicate the strong support for you. Congratulations. Sincerely,  THE SINGER COMPANY  THIRTY ROCKEFELLER PLAZA, N.Y. 10020  212 581-4800   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  15„ 1979  Dear Peter:  May thanks for your vat- note. 1 appreciable the prtiblea and the challenge -- toe can only try our bests Sincerely,  Paul A. %lobar  Mr. liew One liew  Gri, Peter Fleck Court Socurities poration Rockefeller Plana York, New York 10020  PAV:mhw  NEW COURT SECURITIES CORPORATION   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ONE ROCKEFELLER PLAZA NEW YORK. N. Y 10020 CABLE ADDRESS: NEINGOURSEC July 30, 1979  Mr. Paul A. Volcker, Chairman The Federal Reserve Bank 33 Liberty Street New York, New York 10004  Dear Paul: May I express to you my best wishes upon your appointment as Chairman of the Federal Reserve Board. This appointment is not only a source of satisfaction to your many friends but a source of great relief to all of us in this country and abroad who feel that weak government is threatening our economy and our currency. May it be given to you to stem the tide. With respectful regards and warm wishes. Sincerely, '  G. Peter Flec.,  GPF:mg  CfrA  11P.  y)14  RECEIVED itLiG  7 1979  V. A. I ANSWERED ............. ATTENDED TO..... .......   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Dear alms I may see you before you receive this, but I'm taking advantage of air time to respond to your letter on my appointment.  You were more than kind to  write -- and I'm darn glad to know your counsel and wisdom will be on the Board of the Rockefeller Foundation as I leave.  Just don't leave me isolated in the  marble palace. Best regards,  Paul A. Volcker  Mr. James C. Fletcher Burroughs Corporation Federal and Special Systems Group 7726 Old Springhouse Road McLean, Virginia 22102  PAV:mrk  ,i'oughs Corporation Bui   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  FEDERAL AND SPECIAL  -'ØI11  7726 Old Springhouse Road  McLean, Virginia 22102  •  July 31, 1979  Honorable Paul A. Volcker President Federal Reserve Bank of New York New York, New York 10045 Dear Paul:  By now I am sure you have already seen the attached articles - and probably many more - concerning your nomination by the President to be Chairman of the Federal Reserve Board. I was delighted to hear of your selection and want to senI you my warmest wishes for every success in this most vital position. Congratulations and warmest regards always!  Sincerely,  Attachment  GROU P  Removal Notice 7KHLWHPLGHQWLILHGEHORZKDVEHHQUHPRYHGLQDFFRUGDQFHZLWK)5$6(5 VSROLF\RQKDQGOLQJ VHQVLWLYHLQIRUPDWLRQLQGLJLWL]DWLRQSURMHFWVGXHWR copyright protections.  ŝƚĂƚŝŽŶ/ŶĨŽƌŵĂƚŝŽŶ Document type: article  Pages Removed: C1  Author(s): Hobart Brown  Title:  Paul A. Volcker: Experienced, Pragmatic  Date:  July 26, 1979  Journal:  The Washington Post  Volume: URL:  Federal Reserve Bank of St. Louis  https://fraser.stlouisfed.org  Removal Notice 7KHLWHPLGHQWLILHGEHORZKDVEHHQUHPRYHGLQDFFRUGDQFHZLWK)5$6(5 VSROLF\RQKDQGOLQJ VHQVLWLYHLQIRUPDWLRQLQGLJLWL]DWLRQSURMHFWVGXHWR copyright protections.  ŝƚĂƚŝŽŶ/ŶĨŽƌŵĂƚŝŽŶ Document type: article  Pages Removed: A1, A8  Author(s): Jeremiah O'Leary  Title:  Wall St. Hails Nomination of Volcker  Date:  [July 1979]  Journal:  [The Washington Star]  Volume: URL:  Federal Reserve Bank of St. Louis  https://fraser.stlouisfed.org   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  725 FIFTEENTH STREET, NORTHWEST WASHINGTON 20005  FOR HIS EYES ALONE  August 6, 1979  ii-DatAL Few things have pleased this town as much as your appointment to be head of the Federal Reserve. Kathrine and I always thin ,c of you, Barbara and the children as close neighbors. It is a joy to have you back in Washington. Once a quiet, sleepy southern town, where nothing ever happened, Washington has become not only the political, but also the financial and business capital of the World. We are beset with problems, but I like to think of a remark made to me by the wife of Will Clayton one time. She said: Remember, there is a good answer for every difficult question. The Volcker homesite next door to us on Cleveland Avenue is now the "Volcker Park." Welcome Back! Faithfully yours, John EliffA. Folger Mr. Paul Volcker, Chairman The Federal Reserve Washington, D. C.  s  14-IA   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Au,;ust 7, 1979  Dear Doris: "Warm and witty" are not descriptions that hear every day, so I particularly appreciate the note. I will miss New York and the Council..-and after reading all the news 1 am tempted to resign white ahead.  But we will persevere and many thanks  for your help in the past. Best regards. Sincerely,  Paul A. Volcker Ms. Doris Elizabeth Forest Publisher Foreign Affairs 53 East 68th Street New York, N. Y. 10021   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  (ja,,11  eq,d0  FOREIGN AFFAI  58 EAST 68TH STREET, NEW YORK, N.Y. 10021 I (212)734-0400  DORIS ELIZABETH FOREST PUBLISHER  July 26, 1979  Dear Paul, I want to add my own words of congratulations to the many you will receive on your appointment as Chairman of the Federal Reserve Board. I think the nicest thing that could have happened to us is that we'll have a warm and witty human being in a job traditionally inhabited by dry humorless types: With warmest good wishes, Sincerely,  14 1  The Honorable Paul A. Volcker Federal Reserve Bank of New York 33 Liberty Street New York, N. Y. 10045   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 15, 1979  Dear Maury: •lany thanks for your note.  I know your long  standing commitment to the Fed, and I appreciate it. Sincerely,  Paul A. Volcker  Mr. Maurice R. Forman   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  MAURICE R. FORMAN  July 31, 1979  Mr. Paul A. Volcker Federal Reserve Bank of New York Federal Reserve Station New York, New York 10045 Dear Paul: Congratulations on becoming Chairman of the Federal Reserve Bank. You are so ably suited for this job that it makes me feel more secure that the central bank of the United States is in good hands. All my very best wishes to you and your family. Sincere regards,  10  , 4.-)Vk,z--cf  Maurice R. Forman MRF:efg •  R=Cra-4* VED AU G  7 1979  P. A. V. ANSWERED ATTENDED TO,.,  a   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 16, 1979  Dear Bob: Many thanks for the note--and let's hope we can get that membership thing resolved. I do see some sunshine between the clouds, particularly if I can believe what I hear from the ADA. Sincerely,  Paul A. Volcker  Mr. Robert C. Forrey President New Jersey Bankers Association 499 North Harrison Street Post Office Box 573 Princeton, New Jersey 03540 PAV;jrg  Nrat ZOrrsrp 3Bankm Aiuiurtatttnt 499 North Harrison Street, Post Office Box 573, Princeton, New Jersey 08540  609/924-5550  August 9, 1979  ROBERT C. FORREY PRESIDENT   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  The Honorable Paul A. Volcker Chairman Board of Governors of the Federal Reserve System Washington D.C. 20551 Dear Paul: Our heartiest congratulations on your appointment and confirmation as Chairman of the Federal Reserve Board. We are confident that the nation's monetary policy will be implemented most effectively and the viability of the Fed will be assured under your capable and responsible leadership. We are delighted that such an astute New Jerseyan will be at the monetary helm at this difficult period. We are particularly pleased that you will be chairing the Fed at this crisis pericd for the membership issue. Our best wishes to you. Kindest regards.  ‘0114-.  41L RCF/cmb   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear Mr. Forse: death a little while 's la su Ur of d ar he ly I on staying in closer t no r fo lf se my ck ki ago, and growing up, she was my re we we n he : C, h. touc think of her that ys wa al ll wi I d an -favorite way. e. Many thanks. it wr to nd ki re we You Sincerely,  Paul A. Volcker  Mr. C. Harry Forse hairman of the Board lvania Bank of Central Pennsy ania 17754 Montoursville, Pennsylv  PAV:ak  (P. Bank of Central Pennsylvania MONTOURSVILLE, PA. 17754  C. HARRY FORSE CHAIRMAN OF THE BOARD  PHONE 717-368-8101  July 27, 1979  Mr. Paul A. Volcker President Federal Reserve Bank New York, New York 10015 Dear Mr.Volcker: Congratulations on your appointment as Chairman of the Federal Reserve Board We have always followed your career and achievements with a great deal of interest. Ursula Fenderson, while working in our bank, was extremely proud of her cousin, Paul Volcker. We were indeed saddened by the news of Ursula's death. Those of us who worked with her regarded her very highly. She did a very fine job for us while working at our bank, as she has done for her very fine family. To the many thousands of congratulations from all over the world, we want to add a "big congratulations" from our small bank in the Borough of Montoursville. Very truly yours,  Chairman of CHF/sk   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Board  RECEIVED AUG 2 1979 P.A.V. ANSWERED ATTENDED TO.  ......tlel••   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear Mr. Fox have read your note and appreciate the concern you express. Sincerely,  Paul A. qolcker  Mr. Gerald Fox  PAV:ak  77.. 41"  7. 737)VA '6 )  -. 05V.4  7-912*  ,720.71,47,244 94,47 274  7721-77'A  ) 61 1 ?Orr-A 7427°-2,' Xav  /if, ilyt rill, i-„p",4,  4,77.. 07p-&-y-; -a. -7 °92,(  7Ltc,ocv A?  1 -77-4  tyr  -Ago 4,-,,,?Aza4 3ryfre-ifr7774 Jr 277e4e-t-904,-,or  4(4.1..-•i4,71;tr-441.. y734t,le.....„2 l a r . a ., eoe x_137rIety.A.Ni_  171(1,7 74:-.7.0--;)  lea,s.c\i'llyr."7/ ?%c-)•-, -in,...7, .p.v.,,,, -.721-1-7 f)nr-Ark.kitt7 Pez:7A,",,, .,z2,2p -tt •--:,4,*0 .„yv, . 77 ? , -.. -4,0.,- .()  Y741 :A774-eio-11#14  r"?.14#1°P34'2?(r, it4t, 74179.  -141,  e.g-->:Per/tAvy 7-4-ett4"-71,2).  ,77j057.0-4/41:7”ip.w. 7:7"7-R  7-707p1  ',..7,142-74w31z7  -11'31"113-4e  77, -k-za,2  7r,”,yrpsTi 04r."  y.  1°,1,7,747,1,f47. ti21,723;a-t44--*  -172-1  -f?7•7?,  , ?'•-r,s7 -7yr  77.1z-'Aft.  lo_71(  r  r  lit i--7,12.7  x  jx;rint.-141 (>7.  41e- 'rone 7P ' . & ' . ??‘"X--  !We/  1,7 , ",* c , _7 r IL....."- lier 'r''  .......,  / -:"/ 7 -4 72 c pti 20 tvvras-,, '77-4 yr-, / 1,7 / 1 --7 3 1-7-14 7 7 1 / 7 777 ,../  -tr•  7)77g Adk-  '11/2 , Nearn ,, ,yr e6'rayig“T/14.14( 4a 1  z./.)Eyt 11 .  s/414   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  d) LI:ex-'t.a  4Zez47.04.--  r ."4:z &„624,,t‘.  "ikt-1.1-4;14-r)  )71.44...d-,&, 3)-444e b•e.  V./sr  ,ei,h.-ea444%-ivrce;,e  -e7x  4(4  /-•et--40 •In.4,4e&  t/01 )  "A<A4  dr,ix  4-) ' 21N-4--  dw.24,7 406771-244*  e/17204-11 , k-i--  ( 463 4-41/  „ieey  Y 7& A(>•,/`o--0C- 74—  C-i>1/714 4t-4  14):44.e4-  4  ‘41°--2  -774.,e4oieit  14  17,z -732-et‘ '  c-i')4eez  r7)-, 4e---7  (-.0.41ati-)41"  <-14-4-7.-tih•  7r-eck.e  AeiZeJ‘3"--  -  gor Lire4,44,  e/2-tc46  7; -4104  -64•La,-1  -1-4c e-r:e. 2 .3  XL-10Ce4-;\t4 ad-4,44:  .4.;e4Ze  A  •   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 8, 1979  Mrs. Sylvia Porter Fox  Dear Sylvia: I'll discount all those press reports--but not your offer to help. Thanks for writing and stay in touch. Sincerely,  Paul A. Volcker   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  SYLVIA PORTER F/KX  A;721)01/ Dear Paul: We are all so fortunate that you accepted the post at this, of all crucial times! For you have tge courage as well as the bacgground ahd convictions to stick to a position, no matter what the pressures on you. I, for one, am grateful to you, send you (as always) my to you, affectionate best and now shall turn   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  above (and beyond all others) for the guidance this nation so desperately needs. How Carter ever got the picture straight - at last - utterly confounds me. I simply didn't even hope that he would turn to you Enough. This is one of millions (?) of letters you will get. StOuld yo4ever want to call on me, I'm here .... for you ....  FEDERAL RESERVE BANK OF NEW YORK NEW YORK,N.Y.10045 AREA CODE 212 791-6173  PAUL A. VOLCKER PREssiDENT  August 1, 1979  • • ..... • •  Dear Lewis: I appreciate the note--and I also appreciate how much support and consensus is needed in the country at large for sound policies if we as a nation are to be successful.  I can only try to be a part of the process. Sincerely,  LI Paul A. Volcker  Mr. Lewis W. Foy Chairman Bethlehem Steel Corporation Bethlehem, Pennsylvania 18016  ......................................................... • ........  ............................  •  ••  .....  ........... ... ..... .... ...'  .   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  .............   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  fif BETHLEHEM STEEL CORPORATION BETHLEHEM, PENNSYLVANIA 18016  LEWIS W. FOY  Chairman  ))J2& itt OrA  j,,, w .A,.  July 27,27, 1979'  Dear Paul: I was exceptionally pleased to learn that the President has nominated you to be chairman of the Federal Reserve Board. Your concern about monetary growth and credit as they relate to inflation and your extensive experience in international monetary affairs will be welcome strengths in your new post. May you have the Congressional and Administration support you surely will need in this challenging and difficult assignment. Sincerely,  Honorable Paul A. Volcker, Chairman-Designate Board of Governors Federal Reserve System Twentieth St. & Constitution Ave., N.W. Washington, DC 20551  ok VA   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 6, 1979  Dear Emilio: I do appreciate the note.  Ile vill try our best.  Sincerelv.  Paul A. Volcker  Mr. Pnilio Francolini Vice President and Representative for United Nations and Consular Affairs The Chase Manhattan Bank, N.A. I Chase Manhattan Plaza New York, New York 10015  The Chase Manhattan Bank, N.A.  Emilio Francolini  1 Chase Manhattan Plaza New York, New York 10015  Vice President and Representative for United Nations and Consular Affairs  CHASE   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  July 27, 1979 Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, N.Y. 10005 Dear Mr. Volcker: First of all this letter doesn't need to be acknowledged! I am writing to you: To congratulate you on your future responsibilities. To tell you how delighted I was in hearing the news of your designation to Chairman of the Federal Reserve Bank. To assure you as a foreigner and an economist myself, that I welcomed such a designation. To wish you all the best on a task which for sure shall not prove to be easy, but undoubtedly challenging, rewarding and ripen of great satisfaction. The world has its eyes on you, but I am sure quite a few of your International colleagues are ready and will be of great help as the Western countries, now, more than ever, perhaps need a strong Federal Reserve with a great banker at its helm. With all my best wishes, I remain sincerely yours,  R  ECEIVED JUL 3 1 1979 P. A. V.,  ANSWERED  ............ .............  ATTENDED TO  ............  .1,114124.11it,• ......................   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August  1979  Dear Charles: I particularly appreciate hearing from those who have some idea of what the problems are from the "inside . Many thanks for the note. Sincerely,  Paul A. Volcker  Mr. Charles R. Frank, Jr. Salomon Brothers One New York Plaza New York, New York 10004   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Members of the  r  York Stock Exchange, Inc.  One New York Pla,. New York, N.Y. 10004 (212) 747-7000  Salomon Brothers  July 30, 1979  The Honorable Paul A. Volcker Chairman of the Federal Reserve 20 Constitution N.W. Washington, D.C. 20551 Dear Paul: Congratulations and best of luck in your new job. It gives me great pleasure and great hope to see you take the role of Fed Chairman. Sincerely yours,  Charles R. Frank, Jr.  Atlanta / Boston / Chicago / Cleveland / Dallas / Hong Kong / London (Subsidiary) / Los Angeles / Philadelphia / San Francisco   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  FEDERAL RESERVE BANK OF NEW YORK NEW YORK, N.Y. 10045 AREA CODE 212 791-6173 PAUL A. VOLCKER PREsioENT  August 6, 1979  Dear George: I do appreciate the note.  Barbara  intends to hold down the fort in New Yor k, so stay in touch: Sincerely,  cad Paul A. Volcker  Mr. George S. Franklin, Jr.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  MRS. GEORGE S. FRANKLIN, JR.  7e-  "6-  e  27  .  ,•.• .,. .• Of GOVt.• .  ..!?°  t,  •0 • -n  : 2• I- • .: '' •  • -4  ;5-  <IN • .<,  CHAIRMAN OF THE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM WASHINGTON, D. C. 20551  c-, • .•  August 24, 1979  Dear Harry: Thanks for your letter. weekend shuttles are awful so far.  But those Tell me  it's only a summer phenomenon! Sincerely,  ,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  / 11 Paul A. Volcker  Mr. Harry L. Freeman Senior Vice President American Express Company American Express Plaza New York, N.Y. 10004  ,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  AMERICAN BCPRESS AMERICAN EXPRESS COMPANY, AMERICAN EXPRESS PLAZA, NEW YORK, N.Y. 10004  HARRY L. FREEMAN SENIOR VICE PRESIDENT  July 26, 1979 Hon. Paul Volcker President, Federal Reserve Bank of New York  Dear Paul:  Congratulations!  Good for the country; we need you.  I note that you may or may not move to Washington. I've been commuting from Washington to NYC for about a year and have found that it isn't so bad...the weekly commute from NYC to Washington and hack might be more economical than one would suppose. The prices in NYC are more elastic to taste; the cost of moving and outfitting itself is the killer. See you on the shuttle.  Sincere  Harry  man  RECEIVED JUL 27 1979 P. A. V. ANSWERED ATTENDED  ,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  a  August 20, 1979  Dear Bill: Many thanks for your note on my appointment.  I  of course remember very well those days when our paths crossed in an earlier incarnation, and I look forward to renewing the contact. Best regards. Sincerely,  Paul A. Volcker  The Honorable Bill Frenzel House of Representatives Washington, D. C. 20515  Congre55 of the alnittb  BILL, FRENZEL THIRD DISTRICT, MINNESOTA  tate5  MAYBETH CHRISTENSEN 180 FEDERAL BUILDING MINNEAPOLIS  Apute of Repre5entatibt5  WASHINGTON OFFICE: 1026 LONGWORTH BUILDING 202-225-2871   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  DISTRICT OFFICES:  Itientington,;D.C. 20515  55401  612-725-2173 IRIS SAUNDERSON 3601 PARK CENTER BOULEVARD ST. Louis PARK 55416 612-925-4540  August 6, 1979  Mr. Paul Volker, Chairman Board of Governors Federal Reserve System 20th St. & Constitution Avenue N.W. Washington, D. C. 20015 Dear Mr. Chairman: Congratulations on your appointment and confirmation as Chairman of the Federal Reserve. As a former inmate of the House Banking and Currency Committee, I had a chance to observe your fine work with the Treasury Department. I am very pleased that your public service again brings you to Washington in what is perhaps the country's most important economic position. I have great confidence in you and look forward to being of assistance whenever you think I can be helpful. Best regards,  Bill Frenzel Member of Congress  BF:dw  THIS STATIONERY PRINTED ON PAPER MADE WITH RECYCLED FIBERS   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear ?ill: Many thanks for the note.  Keep in touch.  Re7,ards, Sincerely,  Paul A. Volcker  r. William C. Freund :leven Wall Street New York, New York 11005   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  WILLIAM C. FREUND 05  July 26, 1979  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, N. Y. 10045 Dear Paul: I join the hundreds of individuals who have commented favorably on your appointment -- except that knowing you personally I can say that it is all true. The President simply could not have picked a better man. If at any time I can be of help to you, I hope you will feel free to let me know. To you and your family, congratulations and all good wishes. Cordially, •  WCF:at  .d=   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Dear Milton: It's taken me a little while to get out from under, and to respond to some of those special letters of congratulations or condolences -- and I recognize the latter may be more apt than the former. I don't know whether I have simply been elected as the "fall guy" in most difficult circumstances, but some of the broad directions of necessary change seem clear enough. And, as you point out, the past record has not exactly been perfection. I am perfectly confident you will find plenty to criticize but I also suspect you know I will not be unhappy to have you preaching the doctrines of monetary rectitude as we move ahead. Your "gradualism" and "moderation" in today's context is likely to be the equivalent of my "discipline", even though I don't particularly like those words; I suspect they get translated into something like softness and uneffectiveness in the public ear. In any event, the test will come soon enough, and we will, as always, be following your comments with interest. Regards,  Paul A. Volcker  Dr. Milton Friedman Capitaf Ely, Vermont 05044 PAV:mrk  kkx- ro.,t  " kiolv" 4Aw 4/1 k;JP't MILTON FRIEDMAN CAPITAF ELY, VERMONT 05044  /91/417 3/1  cr )  \*' 4 .  t•lou.sef ea_  11.  o  ,_1„4„  04. --1744,t_t  " ev-stAA  cec_ybc410  "r nte C4fr /144 c4#1 -1.44-g;  Ktv4‘.1 /244- efrt•  tZ  10 ,c7re  ot^4 ce144.1  . C.4014-4-4A1-4 ' 41`  ;Iv st.44^',./LWC P0  Ki44e+  0;!0K  0  to, fila eraAnv owl,P  I  A   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  /1.PZI  /1A-1•4°c,  J‘447  rrt-o  syvv1  444irV- e"4A;1--te  rp  44,44ZY)t /4X441"°17 ht2 ,—  )14'47  AAA,A41,4, /)14Ahit4j440A7 et  a"tx  /444-  . AL4J-44;?  ki?SvAc  itscA.L.-frg es.ctg.  71-A2All'V  4'°C  f\AP  PL`444,P  t-.02-1--014  c) 3 3 rAAA-e  oi I  rt-"Ike  \)1  5‘jv 11  / 30 —  .1  nt44  _ . 01 ,e174-frp  9 "_.0  ciAAtt•47.  a,' ittA  c),/  )11)  •  f-  711°5"4--11'•   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 17, 1979  Dear John: Many thanks for your warm note. I do appreciate the "send off from so many friends abroad--but I have some sense of the problems ahead. Sometimes I think it was just bad baseball and basketball in New York that drove me out--otherwise I must I e crazy. But maybe we can all learn something from that epperience of yours (or at least Mrs. Thatcher) over there. A lot of people are watching. All bhe best. Sincerely,  Paul A. Volcker  The Right HonoraElhe Dr. John Dilbert, MP House of Commons London SW1A OAA England  HOUSE OF COMMONS  The Rt Hon Dr John Gilbert, MP  LONDON SWIA OAA  Switchboard 01-219 3000 Secretary  01-219 4711  I  „-c.-ert.7 ..e.sa_ecz tr'"-  4  4•4110.moft.  401274,  "  arm  Ckaa,..,  two",  et*.A  to ) I  Z)osto,  aret.".0111.4116....01110p  Is twoo4  /  /  KLca.  (r"  G—epusL‘.„4  U • t ell'  r  co, j 4_ #124   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  lAjPir  -60  4141t0•0111111111MIMNOMMIlie . ft  44  P)‘°:ri  (41 )   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  FEDERAL RESERVE BANK OF NEW YORK ........  NEW YORK. N.Y. 10045 AREA CODE 212 791-6173  PAUL  A. VoLcKER  August 1, 1979  PRESiCENT  ......  •  .  Dear Mr. Gabriele: Many thanks for your congratulations and kind words.  We will do our best. ......... ...............................................  Best regards. ...............................  Sincerely,  rad ow6,„.  .  •  ................  •  .  •,  Paul A. Volcker ...................................  ........................  •  ....................................................................... ............................................................  ...  ............. ..............................................................  Mr. Mario A. Gabriele Executive Vice President Banco Di Roma 100 Wall Street New York, New York  ...... .. . ... ,: ,, •  ..  •  •..  .  • •.................. ........... . ..........•....................... ...... ... .... .......... ... ............ ..................... ......... ..... • ................ .• • ...... .•. • ................  ....•....•...........•...•.......................•............................ • ...  .  . . .... .............. . :.. •  . •................  •  . ........  ......  ... . ........... . ......... ...... ........  .......... ...............................'.......... ....... ............. .............................................................................. ..  .  ......................... ......................................................................... . ..• ...... ••................. ... ............................................... .. .................................................................... . ..1 ...................................... ..... ...................................•................................... . .... .1 ... .............................. .................................•................................•.............•...........:.... . .  ... .. . . . . ...................................... .......  •  ............................................ ..... ..:........................................................................................•...•.....•.............................. ......  ..  •   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  •  ..... ..  ot/AFED RES BK NY 1-01/6/4A2u7 07/26/79 WU INFOMAS1EA ICS-IPMNUNC NIK 397 Tik'n 710515500 FRBOFNI NiK 1-015567A207 07/26/79 11..A BANCROM Nit{ 01 Nif JULY 26,79 PMS MR. PAUL A. VOLCKEA FEDERAL RESERVE BANK OF NEW YORK 33 LIBERTY SThEET NEW YORK, Ni 10045  RECEIVED DEAR MA. VOLCKER:  1979  PLEASE ACCEPT Mf HEARTIEST CONGAATULATIONS UPON °Litt AIL 27 OINTMENT AND MY BEST WISHES FOA YOUA SUCCESS IN YOUR P. A. V. NEW OFFICE. .........  ANSWERED  ikTTENDED TO......-.......................... AAA10 A. GABAIELE EXECUTIVE VICE PRESIDENT BANCO DI ROMA - NEW YORK BRANCH HS 2035 ES1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  V  •Mb   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear Bob: It leis nice of you to write.  One of the 'downers  on this job is that I have to cut off the Red Cross and other activities  but I do remember: Sincerely,  Paul A. Volcker  Mr. G. Robert Gadberry Vice President Director of Public Affairs Fourth National Bank & Trust Co. P.O. Box 1090 Wichita, Kansas 67201   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  TheFourth  IV  July 25, 1979 Hon. Paul A. Volcker, Chairman Board of Governors Federal Reserve System Washington, D. C. Dear Paul: Sincere congratulations on your selection to the tremendous responsibilities as chairman. We applaud the President's selection not alone because of your qualifications and experience, but because those who know you have confidence in your making the right decisions. Your success will be important to our total economic direction and well-being. Your continuing success is a matter of great personal satisfaction to me--one of those "I knew him when" stories. I served on the Board of Governors of the American Red Cross from 1969 - 1975 and that embraced a period of four years when you were Undersecretary of the Treasury and on the ARC board. We are proud of you and wish you success. Sincerely,  G. Robert Gadberry Vice President Director of Public Affairs pp  Fourth National Bank & Trust Co. Wichita, Kansas 67201  P.O. Box 1090 telephone 316 - 261-4444   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear Tilt Many thanks for the note and just write nice things when the bombardment starts: It's worth a try.  My best to you both. Sincerely,  Paul A. Volcker  Mr. Tilford C. Gaines  PAV:smk   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  TILFORD C. GAINES  July 27, 1979  Dear Paul, My personal thanks for your accepting the appointI ment as chairman of the Federal Reserve Board. know the personal sacrifice that is involved, and I think we all owe you thanks for being willing to accept it. It is not often that exactly the right person is picked to do a difficult job, but this is certainly The job will, of course, be true in your case. tough, but you have a great many of us who will be If I willing to give you whatever support we can. can be of any assistance in any way, just call. Very best wishes. Sincerely,  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street 10045 New York, New York   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear Mr. Gardner: I appreciate the vote--but I have some faith that even "politicos" re changing-therein lies the hope! Sincerely,  Paul A. Volcker  Mr. James E. Gardner  PAV:ak   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  JAMES E. GARDNER  t44U, --1,Xt. ...).44. ekdk24 el....oim ti ,e-:1,,,,,im,1,,, ,it4.“•  an I /f7  1 11Aftlittitt t  11,404 it )  kkt •  ildcluiA  4-zrode•tA.4.  eir44ai--40.441.0  criA 1(.4.4  mAA k&e.t_ A hAA,Attot,  144 4.14446.5-r  -Z 4-k  kr4446  egt.wuterr litha-ve  d2  .144P  0.r  A7 d-4"4 d'ear 1-14(4 4 frld-dm& knalet.ir lait.444.6.42woi  Cam  tuto4,,  fruami  ettite es  ac1440  dri".e-  IA.%  Coltrisco ei__ZZ LottA • CtAAat cm%)  towo,.A. yerm, gy.,,.7r.ar it 5 whArtrk $44-e etsirte.t 1m:41 aiket meir -6/14cia outioo.,7-  s-ti*  "  •r gul;er a.  riri  rivuA  40.io"Au.ok  Pk.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 21, 1979  Dear Dick: Many thanks for the note and -- beware -- your invitation is tempting! I expect to see Baffi soon here -- he is quite a fellow, and central banking in general will be the loser as he retires. Keep the flag flying! Sincerely,  Paul A. Volcker  The Honorable Richard N. Gardner U.S. Ambassador Embassy of the United States of America Rome, Italy PAV:slw   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  EMBASSY OF THE UNITED STATES OF AMERICA Rome, Italy  JUL 27 1979  Dear Paul: I had a strong feeling that you would be the next Chairman of the Fed and I was delighted as I could be to read this morning that this is now official. As expected, your selection has evoked universal praise in Europe since no one could be better fitted for the job. Please plan to visit Rome soon. Your Italian friends, such as Baffi, Carli and Ossola, plus many others that you may not know, would appreciate the chance to talk with you. As an inducement, I can offer some good rest and recuperation at the Villa Taverna, where you have a standing invitation to stay with us. With warm personal regards. Sincerely,  Richard N. Gardner  Honorable Paul A. Volcker Chairman, Board of Governors of the Federal Reserve System Federal Reserve Building Washington, D.C. 20551   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  THE UNITED STATES OF AMERICA  tx, POSTAM: AN!, PAir' DaARIMEAT Ot 82WATB  OFFICIAL BUSINESS  Ambassador Richard N. Gardner American Embassy APO New York 09794  Honorable Paul A. Volcker Chairman, Board of Governors of the Federal Reserve System Federal Reserve Building Washington, D.C. 20551   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear George: Thanks so much for writing. I remember those "early days" very well, including the course at the calculator. That's the trouble with economists these days--they never have to look hare at the raw data! Don't forget me down here--after all, you pointed me in the direction. All the best. Sincerely,  Paul A. Volcker  Mr. George Garvy  PAV:ak   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Lear Bill: You were good to write. Sorry I am deserting New York and the Buffalo Branch, but it has been good having you aboard. Keep Lyons going! Best wishes. Sincerely,  A. Volcker  Mr. William S. Gavitt, President The Lyons National Bank Lyons, New York 14489 PAV:ak  GEORGE GARVY  /IA,-7,r  czzejert„  --aksz_ 6-20—x_cve  -tD eakts,4+  rt ovuga  t-v•-e-Q-   http://fraser.stlouisfed.org/ d•—• Federal Reserve Bank of St. Louis  ikerat  ~c44„-(.42_. AAL\L Are.5€  1  /1421  RECEIVED /AUG  2 1979  P.IL V. ANSWERED ATTENDED TO  TH E LYONS NATIONAL BAN K Esta bl'ished /865  LYONS, N.Y. 14489 July 25, 1979 WILLIAM S. GAVITT.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  PRESIDENT  Mr. Paul A. Volker, Chairman Federal Reserve Board c/o Federal Reserve Bank of New York 33 Liberty Street, New York, N.Y. 10045  Dear Paul,  Please accept my sincere congratulations upon your appointment as Chairman of the Federal Reserve Board. This, I am certain, is a verywell deserved appointment and probably one of Mr. Carter's better decisions. I can appreciate the personal sacrifice you are making in the move from New York to Washington. As my Dad used to say, "There is no justice". Every good wish on your future success.  pectfully,  &kVN,DAP\ ‘41  ' tit du-th) Y%14-  V  /MI 7j :‘ 1C0 1W1  WILLIAM S. GAVITT President   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Mr. Paul E. Gay Mrs. Jean P. Kingman Wells & Gay 340 West 23rd Street New York, New York 10011 Dear Mr. Gay and Mrs. Kingman: I do apprerbiate your note on my appointment, however belated my response.  Mrs. Volcker stays in  -- including New York, so our ties with the City remain real estate values!  Many thanks for your past help. Sincerely,  Paul A. Volcker pay:ccm  Realtors Serving Manhattan Since 1819  WFLLSXP GAY Chairman Paul E. Gay  James N. Wells' Sons, Inc. 340 West 23rd Street New York, New York 10011 212/243-4000  Vice Presidents Philip N. Birndorf Jean P Kingman Assistant Vice Presidents Millard W. Dixon III Gloria J. Johnson Charles W. Schmitt C. Hunter Tillman  27 July 1979  Associates John J. Bowe John J. O'Connell, Jr.  PERSONAL  Mr. Paul A. Volcker, President Federal Reserve Bank of New York 33 Liberty Street New York, New York 10045 Dear Mr. Volcker: Our very best wishes and congratulations on your appointment as Chairman of the Federal Reserve by President Carter. Please also extend our regards to Mrs. Volcker. Sincerely, JAMES N. WELLS' SONS, INC. Paul G y & Company, Residential Division  r  tv-  P3/ 110xekm/1‘ O, d  i'ivo"(k`  fekt-  / Paul E. Gay  Jean P. Kingman  PEG/JKApt  Paul Gay & Company. Residential Division/Members of The Real Estate Board of New York, Inc./Cable: Oquossoc—New York  http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 9, 1979  Mr. Robert A. Gerard Senior Vice President Dillon, Read & Co. Inc. 46 William Street New York, New York 10005 Dear Bob: I much appreciate the note.  Sometimes I think  I'm nuts, but no one can say there's not a certain challenge.  We'll try and we'll see: Sincerely,  Paul A. Volcker  q   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  1/411/,  /rte.  1979 AV:-7 r"  46'6Y/PC Pet Aliey e.hr7-  c-Areiel-*())'/ 0005 August 3, 1979  Honorable Paul A. Volcker Chairman Board of Governors of The Federal Reserve System Federal Reserve Building Constitution Avenue, N.W. Washington, D.C. 20551 Dear Paul: Just when one is ready to conclude that Washington is functionally incapable of making a sane decision an appointment such as yours appears. I don't envy your having to go back down there, but all of us who care about this country's economy, and especially those of us whose livelihood depends upon it directly are grateful. Needless to say, if there is anything I or my colleagues here can do to help, let me know. Good luck. Very truly yours,  Robert A. Gerard Senior Vice President   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 23, 1979  Dear Knut: I greatly appreciate your warm note. You have been an understanding friend of the Fed and the U.S. over the years, and I look forward to working together in this new capacity. There is no shortage of problems. Best regards. Sincerely,  Paul A. Volcker  The Honorable Knut Getz-Wold Governor Norges Bank Postboks 336 Sentrum, Oslo 1 NORWAY  NOR GES BANK   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  THE  0 SLO,  GOVERNOR  August 14, 1979  Mr. Paul A. Volcker Chairman Board of Governors of the Federal Reserve System Washington, D.C. 20551 U.S.A.  Dear Paul, Please accept my sincere congratulations on your appointment as Chairman of the Federal Reserve Board. I wish you every possible success in your new and extremely important position at the helm of the central bank. In these days it is a source of particular satisfaction to your colleagues  nIther countries that  the Federal Reserve Board enjoys the benefit of your broad experience and high personal qualifications.  We  know that the custodianship of the dollar is in good hands. And that, indeed, is of very great importance to all of us. With kind personal regards, Yours sincerely,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 3. 1979  Dear Marge: Such a nice letter! You know well enough to discount all those news notices. I can at least try my best to keep the value in those Savings Bonds, but any lasting success is going to depend on so many people with the kind of spirit you have had. All the best Sincerely,  Paul A. Volcker  Mrs. Charles J. Gilchrest  PAR AVION LUFTPOST  Mr. Paul A. Volcker Chairman Board of Governors of the Federal Reserve Board Washington, D.C. 20551 U.S.A.  NORGES BANK Postboks 336 Sentrum, Oslo I   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  •   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  I  July 26, 1979  Paul A. Volcker, President Federal Reserve Bank of New York 33 Liberty Street New York, N. Y. 10045 Dear Mr. Volcker: You will never know how much the announcement of your appointment as Chairman of the Federal Reserve Board did to restore my faith in our government and the future of our economy! You will probably not remember me, but I handled the arrangements for the State Department luncheons for the U. S. Payroll Savings Industrial Committee at which you presided so beautifully as Undersecretary for Monetary Affairs prior to my retirement from the Savings Bonds Division in 1971. My husband and I are now among the fixed income senior citizens, however rather comfortably "fixed" thanks to our investments in Savings Bonds during our many years as fairly high grade government employees. This morning's front page announcement of your appointment was the best news we have seen in our newspapers for many a moon. We wish you every success in the vitally important role and challenges you face in your new position.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Sincerely,  /e,"/Li,0 Marjorie L. Gilchrest (Mrs. Charles J.)   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Dear Roe: A long plane ride provides some chance to catch up on correspondence, and I do much appreciate your personal note on my appointment. I suppose in a way it's your fault, but I won't be able to complain that there is no challenge.  I would only  ask that you let us know when you think we are really off the track.  We both have too much invested in this institution  and in the country -- to see it falter now. All the best,  Paul A. Volcker  Mr. Roswell Gilpatric One Chase Manhattan Plaza New York, New York 10005 PAV:mrk   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ONE NEW TAN PLAZA CHASEYORK, MANHAT N. Y.10005 e_ , x_c_a4R  A  tikir) elte4-%.41-c,„,r4711  d4s--t— .re.411_ 4/4 tirA (244mi tA4.•,01 1 1, 4 1---) 4-uvL-4( e ia--f-to 0141 trew) trvo,  Y  1 -'4 V41 t#J-,4  Ott C%. f ( 0-A  /4‘4--tot  &O-L4e1  tAl,  44  .• 4 4 1 ' A4  .54;1.C44 14-4174.A.r  1 ih( eAt° &id- et^  14-b e4 raaiv t-14 c-61'  vir) RECE4V JUL 26 1979 P. A. V. ANSWERED ATTENDED TiPis•  ) c4   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Dear Peter: I'm getting out from under, and simply want to say I appreciate your message on my appointment. Washington is both the same and different, if that is comprehensible, and I expect to see you soon. Sincerely,  Paul A. Volcker  Mr. Peter Ladd Gilsey  PAV:mrk  LLII LI western union  Telegram  YSC019(1010)(1-006SS5A237)PL) 07/26/79 1010 ICS IPMNW40 NYK 1S9  R  ECEIVED JUL 26 1979  ICS IPYYS31 /4-014166S207 07/25/79 ICS IPXMTZZ CSP  ANSWERED ... ................... ATTENDED TO,,m„, L ........  3016529050 TDMI BETHESDA MD 21 07-26 1002A ESI PS HONORABLE PAUL A VOLCKER, FEDERAL RESERVE BANK, DLR 33 LIBERTY ST NEW YORK NY 10045 FANTASTIC, THE BEST NEWS TO HIT THIS' TOWN SINCE THE DISCOVERY OF YARYLAND CriA8CAKES. WELCOME HOME TO YOU BOTH, WARM REGARDS PETER LADD GILSEY NNNN  SF-1201 (R5-69)   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ..........  .....   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  --)ear Abe: Many thanks for the note.  All I can do is  try: Sincerely,  Paul A. Volcker  ;gr. Abraham L. Gitlow Dean New York University College of Business and Public Administration Tisch Rail Washington Square New York, New York 10003   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  TISCH HALL  New York University College of Business and Public Administration Washington Square New York, New York 10003 A. L. Gitlow, Dean  July 26, 1979  Mr. Paul A. Volcker President Federal Reserve Bank of New York New York, New York 10045 Dear Paul: I was delighted to read of the President's designation of you as his choice for the Chairmanship of the Board of Governors. For the first time in quite a while, the confidence that I, and I'm sure millions of others, feel in our government's economic policies has been given real encouragement. Congratulations!  My best personal wishes.  Abraham L. Gitlow Dean  %   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August  7) 1979  Dear Joe: I really appreciate your note. Remain inquisitive—and not above advice! I suspect we need the Fund (not just the U.S.) more than ever, and I hope the II new guard" can match the old. Best regards. Sincerely,  1-au1 A. Volcker  Mr. Joseph Gold, General Counsel International Monetary Fund 700 19th Street, N.W. Jashington, D.C. 20431  PAV:ak  INTERNATIONAL MONETARY FUND WASHINGTON 25,D.C.  LEGAL DEPARTMENT   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  CABLE ADDRESS NTERFUND  te4-e  Ai,.  1%4LAL  4.41  6 ,1t lx"-IfYc- PAP  ItA.  iv%.+1+1  ts&  tL  (Jte  pt..A  v./ACIn.-1 kw-of:A-7 oi  1ta  SJD  Cr.4-  ()t--C4.A-#. •  •-+k-.-Z67  l'"v‘ j67  IvA,re-  1t4 1L  Me-  fr  /%1  I  6C— /k  9 cem,r-,014-44a.t.,L  4vr---frr•ituae-a,  iev‘;"A;  t'eS4"  ell2""(1  itA  tspri  K-Gt•r  1-1-k  t44.)04,AA  .4,..: >Itrt • LA.%( (  avt-o  e ce-wAti  1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Dear Guido: It's taken me a while to come up for air and respond to your note on my appointment.  But I do appreciate it so much.  Just keep the American Council going--I will miss it: Sincerely,  Paul A. Volcker  Mr. Guido Goldman Harvard University Center for European Studies 5 Bryant Street Cambridge, Massachusetts 02138 PAV:sep   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  HARVARD UNIVERSITY CENTER FOR EUROPEAN STUDIES  5 BRYANT STREET CAMBRIDGE, MASSACHUSETTS 02138 6'7/495-43°3  July 30, 1979  Mr. Paul Volker Federal Reserve Bank 33 Liberty Street New York, New York 10045 Dear Paul: You must be deluged with messages of this kind but I could not resist writing to you to express my boundless enthusiasm at your selection to head the Fed. It is a brilliant choice and so comforting to so many people. I wish you great success in this most important position. Warm best wishes. Yours sincerely,  APANoo v., Gui  Goldman  Dictated but not signed  RECEIVED AUG  3 1979 V.  ANSWERED ATTENDED TO  ..   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Mr. Maurice R. Greenberg President American International Group, Inc. 70 Pine Street New York, New York 10005 Dear Hank: I do appreciate your note on my appointment--hvwever belated my response (a transatlantic plane trip has some advantages in finding time!) The problems are just beginning, I know.  So I hope  you will remain in touch when there is something I should really know. Best regards,  Paul A. Volcker  jmr   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  aear Than  your g_g_g_d-liev§lbe  Do hope you enj9 /170 ' 41  `WI  A( 94A-I  V.014_ ,,AlY  _your -H ong Ke4 trip! Sincerely,  ) zokfu_( (1111:1 QA/W-AA  04/tvw":,j,to t,_ (5 kf Al UllAj  I appreciate  (JP "  1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  . AMERICAN INTERNATIONAL GROUP, INC 70 PINE STREET NEW YORK,N.Y.10005 OFFICE OF  MAURICE R.GREENBERG PRESIDENT  August 6, 1979  ent Mr. Paul A. Volcker, Presid York Federal Reserve Bank of New 33 Liberty Street New York, New York Dear Paul: when the announcement was made of I was in Hong Kong recently of the Federal Reserve Board. your appointment as Chairman cles responded very favorably The international financial cir d for our country and the to your appointment, as it is goo were astute in their world. Those who considered you selection. wish for your continued success. Please do accept my every good Sincerely,  ;  mrg:r  =-• A. V. AfiSV'ER ED ATTENDED TO_•  '''''''''  ''• ''''''''' . ..............   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  THE POITT MOTHORITY  Gg/' uu0D  Peter C. Goldmark, Jr. Executive Director  1979 RUG 20 r1:10: 47  August 15, 1979  Hon. Paul A. Volcker Board of Governors of the Federal Reserve System Washington, D.C. 20551 Dear Paul: This is a short note of congratulations from the Chairman of your local New York fan club. Since we first met, you hav e commanded my respect and my admiration. So I can't think of anything better for all of us and the health of the country than to hav e you sitting where you're about to sit.  ‘PAZAI  All the best,  Sr ' 43, ) 4  Peter C. Goldmark, Jr. Executive Director   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 22, 1979  Dear Peter, Thanks so much for your warm note.  But it is  you who have been demonstrating what a real public servant can accomplish -- and all that I am counting on is that you lead the renaissance of that City (excuse me, region) through innovation and good sense. Keep in touch. Best wishes. Sincerely,  Paul A. Volcker  Mr. Peter C. Goldmark, Jr. Executive Director The Port Authority of New York and New Jersey 1 World Trade Center New York, New York 10048  PAV:mrk   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  GOLEMBE ASSOCIATES, INC. SUITE 900 1800 M STREET, N.W. WASHINGTON, D.C. 20036 (202) 296-5305  CARTER H. GOLEMBE  TWX 710-822-9292  July 26, 1979  Mr. Paul A. Volcker President Federal Reserve Bank of New York Federal Reserve P.O. Station New York, New York 10045 Dear Paul: I do not know that I have ever heard announcement of appointment to a crucial government position that I thought more fitting than yours, as Chairman of the Federal Reserve Board. Carole joins me in extending hearty congratulations and the very best of good wishes. If there is ever anything I can do to be of assistance, please let me know. With kindest regards,  Sincerely,  RECEIVED JUL 3 1 1979 P. 4. V. ANSWERED ATTENDED TO,  L. •  ,u  litt  CHG/p ai  AM   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 6, 1970  Dear Carter: / appreciate the note, and of course you can help, . just by continuing your thoughtful analyses My best to Carole as well. Regards, Sincerely,  Paul A. Volcker  Mr. Carter H. Golembe Golembe Associates, Inc. 1800 M Street, N.W. Suite 900 Washington, D. C. 20036   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  I  FEDERAL RESERVE BANK OF NEW YORK NEW YORK. N. Y. 10045 AREA CODE 212 791-6173  PAUL A. VOLCKER PRESIDENT  August 6, 1979  Dear Mr. Golia: I appreciate the note and photographs. Sincerely,  Paul A. Volcker  Mr. George R. Golia 432 Whittaker Avenue Trenton, New Jersey 08611  GEORGE R. GOLIA   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ilntETnationaf g ) fiotogtallfivz  432 WHITTAKER AVENUE TRENTON. NEW JERSEY 08611 (609) 393-1240  PEOPLE - PLACES - PRODUCTS  July 26, 1979 Mr. Paul A. Volcher, President Fed?,ral Aeserve Bank of New York 33 Liberty Street New York, N. Y. 10045 DePr nr. Volcher: First of all, congratulations and best wishes for your appointment by President Carter as Chairman of the Federal Reserve Board. The President made the best possible and an excellent choice. Second, enclosed is photograph which I took of you and Dr. Franz Lutolf at the Waldorf Astoria last February 21. Of course, I should have sent it to you sooner; however, it now appears to be a more aopropriate time. When you are in Washington as Chairman, should you be in need of a good, International Photographer, please keep me in mind. I have been the official photographer for The Swiss Society of N. Y. for many yeqrs. Once again, best wishes for success.  Sincerely,  George h. Golia  RECEIVED 1,U G  3 1979 A. V.  AN ATTENDED TO,.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  iotzar George R. Golia finievlat  PEOPLE PLACES-PRODUCTS  fioto9zapizez  AVENUE 432 WHITTAKER SEY 08611 JER W NE TRENTON, ( 609 ) 393-1240   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Paul Volker Chairman, Federal Reserve July 25, 1979  Washington D. C.  Dear Mr. Volker: Congratulations on your appointment as head of the Federal Reserve!  It is one area of government about  which I know very little End would like to become better informed.  It would be sincerely appreciated if you would send me basic facts about its functions and what your main responsibilities are.  I'm particularly interested in  how and when our money is printed and who signs the order to print new money.  Thank you for your help,  416-  Jeanne Good  114  a   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Dear Mi. Good: some people I appreciate the letter and will have material. in New York send you a1on4, same Sincerely,  naul A. Volcker  Ms. Jeanne Good  cc: Peter Bakstansky  4   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear George: Many thanks for the note.  I don't think I have  many illusions about the job ahead, but I hope there is some satisfaction in trying! Regards, Sincerely,  Paul A. Volcker  Mr. .eorge J. W. Goodman  1  http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  GEORGE J. W. GOODMAN  July 30  Dear Paul, Congratulations on your appointment.  It is a good  tern world; thing for the country and for the Wes responsibility, and an oppo&nity. challenge.  a tremendous  I know you will meet the  ointment It's certainly the most heartening app  Carter has made. With best wishes,  VV   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  4  August 7, 1979  Dear Gerry: Many thanks for the good wishes.  I can only try.  Sincerely,  Paul A. Volcker  Mr. Gerald B. Gould   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  GERALD B. GOULD  July 26, 1979  Mr. Paul A. Volcker Federal Reserve Bank of New York 33 Liberty Street 10045 New York, N.Y. Dear Paul: You have provided another, and not surprising, opportunity for congratulations and wishes for continued success and they are offered herewith. As one who knew you when we were all a lot younger, Pm delighted at your appointment and look forward confidently to your tenure as Chairman. For all our sakes, Paul, success!  Sincerely,  erald B. Gould  GBQ k  FEDERAL RESERVE BANK OF NEW YORK NEW YORK,N.Y. 10045 AREA CODE 212 791-6173  PAuL A, VOLCKER PREsIDENT  August 6, 1979  Dear Bill: Sailing is probably the best place to be these days--but keep in touch. Thanks. Sincerely,  Paul A. Volcker  Mr. William R. Grant President MacKay-Shields Financial Corporation 551 Fifth Avenue New York, New York 10017   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  I  MACKAY-- SHIELDS FINANCIAL CORPORATION 551 FIFTH AVENUE NEW YORK,N. Y 10017 WILLIAM R. GRANT (212) 986-1100 PRESIDENT   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  July 30, 1979  Mr. Paul A. Volcker Chairman Designate Board of Governors Federal Reserve System 33 Liberty Street New York, N. Y. 10045 Dear Paul: was sailing in the Straits of Georgia off Vancouver Island and was out of touch with the world and did not learn of your appointment until yesterday. It was what the financial world needed. A poor appointment could have sent the dollar and securities markets into another crisis. I offer my availability as a specific observer in the micro world. As a director of SmithKline, St. Joe Minerals, Witco Chemical and Coldwell, Banker & Co., I have a continuing view of the real world in a very diversified perspective. Having recently returned to New York, I'd planned to call you for luncheon after Labor Day. I'm in Washington frequently and perhaps we can visit there. Best regards. Sincerely,  William R. Grant  WRG:psh  RECEIVED AUG  3 1979  P. A. V ANSWERED ATTENDED TO  116... • , i•-•14.1.:WAiluirk•.•••11   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  FEDERAL RESERVE BANK OF NEW YORK NEW YORK, N.Y.I0045 AREA CODE 212 791-6173  PAUL A. VOLCKER PREsIDENT  August 6, 1979  Dear Jerry: Thanks for the note.  Sometimes  I think I'm nuts leaving New York just now, but all I can do is try! My best to you both. Sincerely,  Paul A. Volcker  Mr. Joseph N. Greene, Jr. President Seven Springs Center Mount Kisco, New York 10549  1  http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  RECEIV ED sEN4-isi G  3PRINOS CENTER  9  3 191  P. A. V. ........ ...... MOUNT KISCO/ NEW YORK 10549 ANSWERED............. .... ATTENDED Joseph N.areene Jr PRESIDENT  /5' f  a-474A-34' ao•-ti .1"-sft 1)1 egti...47 0-14.44  cAu-x-e:fu.• eislradiat.  frrv‘,.  f  /Ji•Ve.‘441 -fre  .4 i44  4 i,11&47 44  /44aCot.,  . Aorve. c)  4a-Le  Iva( 4%  )vi  °L-4•• 141-n•  4144.4(  v1;  getx-a4;e4  PA  Ae-4/7>L  St  •••  74.  k9A.c  b  het  eakr/Vi414  „,  VI  4440, 4/V  Ae.0  CP.4•u- /21/VIA.  zt,  4,4  leltodAL‘  /e4.4 /oil.. $4.,  taftUt  err7  •  eLtriL.4.04   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7* 1979  Dear Alan: I appreciate the note and will appreciate it more  f a little free advice goes aloaz with the job. 3est rezards. Sincerely,  Paul A. Volcker  Hr. Alan Crcenapan Joe New York Plass New York, N. Y. 10004 PAV;jrg   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ALAN GREENSPAN ONE NEW YORK PLAZA NEW YORK, N. Y. 10004  July 26, 1979  The Honorable Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, N. Y. 10045  Dear Paul: My best wishes and congratulations. The President could not have made a better choice. Best regards.  Alan Greenspan AG/gc   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 12, 1979  Dear Creenspans -- Howard F. and Vivi S: I eventually answer my mail great to hear from you this year.  and it was  It will be even  greater next year, when no one will want to admit they know me! Regards,  Paul A. Volcker  Mr. and Mrs. Howard F. Greenspan  PAV:mrk   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  u  (r\r‘u  5LkcacIA,kk. ciA0AA)e\a..) jc   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  clanA-1-0Jutl,  ofc  NOLO YOU'RE ONE OF THE '`BIG6IE5I."  Apegi  (7tAz_  41700-5   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  •  Contemporary Cards  90142  PEANUTS Character : © 1958 UNITED FEATURE SYNDICATE, INC.  50KM 900J •••••SSA00.1 Y•01  AIDS  U 1•  1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ft-  t-v-t OOP  aro"  \,‘  0.0010  t1Sk soN /4'4-#100(3*°it  Ta,c,/14sL c\ v\ -  Amembar,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Seneember 12, 1979  Dear Roger: -in this Transatlantic plane rides have more compensationappointment. This case tine to respond to your warm letter on my s better than I is a mutual challenge and voyage--and no one know will be tested. that the strength and competence of the System know I can count Somehow. I look forward to it, mostly because I on you and so many others. See you soon. Sincerely,  Paul A. Volcker  Mr. Roger Cuffey, President Federal Reserve Bank of Kansas City Kansas City, Missouri 6419? PAV:sep   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  FEDERAL RESERVE BANK OF KANSAS CITY  ROGER GUFFEY  July 25, 1979  PRESIDENT  Mr. Paul A. Volcker President Federal Reserve Bank of New York New York, New York 10045 Dear Paul: I was delighted with the President's announcement of his designation of you as chairman of the Board of Governors to succeed Bill Miller. The challenges facing the System are indeed great and will require the best efforts from each of us working under your leadership to successfully meet these challenges. I look forward to that opportunity. I join with your many other associates and friends in offering congratulations and to wish you well in your new position as chairman.  f  Sincerely,  LcrtiP,L.  4 OA  r  e urpecso *  M JJL  l  cJ  ILApi:r tp)  elj- tO  ‘-'LmiAlJ  44A I  +/A  RECEIVED  Pet  JUL 26 1979 P. A. V. ANSWERED  ATTENDED 111_eu...,,  420166611  1
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