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http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Collection: Paul A. Volcker Papers Call Number: MC279  Box 7  Preferred Citation: Congratulatory Letters:"P-Q-R", 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/c119 and https://fraser.sdouisfed.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. 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Mudd Manuscript Library 65 Olden Street Princeton, NJ 08540 609-258-6345 609-258-3385 (fax) mudcl@princeton.edu   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  --   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 17, 1979  Dear Tony: I just discovered I never responded to your nice letter on my appointment. Barbara's going to stay in New York, at the time being -- and so far doesn't seem to much. She's filled with activities now, and of "high." But it will be a long pull -- so to see how it goes. Our best to Mary. Sincerely,  Sir Anthony Rawlinson KCB Second Permanent Secretary Public Services HM Treasury Parliament Street London SW1P 3AG, Fngland  PAV:ccm  least for mind too on a sort we'll wait  H NA Treasury Parliament Street London SW1P 3AG Switchboard  01 - 233 3000  Direct Dialling 01-233 5362  Sir Anthony Rawlinson KCB Second Permanent Secretary Public Services  Mr Paul A Volcker  UNITED STATES OF AMERICA  26 July 1979  Warmest greetings, warmest congratulations and warmest good wishes. Mary and I are thrilled and delighted by the news. I hope you feel it is good for you and for Barbara. I am sure it is very good for the United States and for the financial world. I do hope that the move back to Washington is not going to cause too many personal problems. Best wishes to you both.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ANTHONY RAWLINSON   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 24, 1979  Dear Sam: Thanks for the note on my new employment, and for the news about AMERICAN HERITAGE.  I will  read it with interest, and give you my reac tion. Meanwhile, all the best to Annette and you. Warm regards,  Mr. Samuel P. Reed Chairman of the Board American Heritage Publishing Co., Inc. 10 Rockefeller Plaza New York, New York 10020  AMERICAN 10  HERITAGE  ROCKEFELLER  PUBLISHING  PLAZA ' NEW  YORK,  NEW  CO., INC.  YORK  10020  TELEPHONE: (212) 399-8495 SAMUEL P. REED CHAIRMAN OFTHE BOARD  August 15, 1979  The Honorable Paul Volker 151 East 79 Street 10021 New York, New York Dear Paul: First things first--congratulations on your appointment to the chairmanship of the Federal Reserve. Praise be that the President selected you for this massive job. Now.... The news commentator Walter Cronkite said of AMERICAN HERITAGE, the hardcover magazine of history: "I know of no other publication that regularly reports so entertainingly on our past and tells so well the story of our wonderful heritage." I thought you might be interested in seeing our magazine, so I have arranged to have your name put on our mailing list to receive complimentary copies of AMERICAN HERITAGE for the next year. If you wouldn't mind, my colleagues and I would appreciate having your comments on the magazine--contents, graphics, hardcover vs softcover, etc. With best wishes to you and to Barbara, and I hope we see you sometime in the not-too-distant fu!-ure. Sincerely yours,  SPR/bc Enc.  YKAttiOM   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  100% RECYCLED PAPER   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 17, 1979  Dear Laura: I don't always answer my mail quickly, but I do answer.  I've been getting reports  on you -- and I appreciate your note, even if I missed dinner. Best wishes. Sincerely,  Ms. Laura Petrucci Harvard Business School Harvard University Cambridge, Massachudetts  PAV:ccm   A http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Loeb Rhoades, Hornblower & Co. Fourteen Wall Street New York, N. Y. 10005 (212) 577 7000  Loeb Rhoades Hornblower  July 25, 1979  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, N. Y. Dear Mr. Volcker: I would like to offer my warmest congratulations on your appointment as Chairman of The Federal Reserve Board. I just heard the news via the Wall Street grapevine and am delighted for you! I am looking forward to having you, Mrs. Volcker and Jimmy to dinner very soon, along with Mark, Peter and Jim. I hope that we shall be able to catch Donna between the bar exam and her trip to Europe so that she may join us also. Again, my sincere congratulations. With best regards,  rovv) t to , k I r — n / i vv-,  Laura Petrucci  k oi40A . rtk-  At'vu'l(  RECEIVED JUL 26 1979 P. A. V. ANSWERED MIMED   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  1 L_  September 18, 1979  Dear Mr. Secretary: I appreciated so much your letter on my recent appointment. The trip to Puerto Rico so inspired Jimmy he's off taking Spanish -- but I don't know when I'll get back in this job! Thanks for writing. Sincerely,  The Honorable Julio Cesar Perez The Secretary of the Treasury San Juan, Puerto Rico  PAV:ccm  4   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  gize— tio August 3, 1979  Dear Paul, I want you to know that I was delighted to learn of your appointment by President Carter as Chairman of the Board of Governors of the Federal Reserve System. I don't know of anyone who is better qualified to occupy that very strategic and sensitive position. We all have fond memories of your stay on the Island last December during our Bankers convention. You certainly made an impression on us at that time. You can be sure that we in the Treasury Department and the entire banking community of Puerto Rico wish you the best in your new assignment. Please give my kindest regards to Jimmy. I hope to see you back in Puerto Rico soon. Cordfb.11y yours,  uat Jive;4tt  : tz tK  Julio CesAr Perez rrA-  4AAAAJA  I":/44 A  AALIA)   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 17, 1979  Dear Mr. Pepper: I appreciated your note on my appointment. I also know how tough you commentators (hmme and abroad) can be to please. All we can do is try -- and hope the critics are split on both sides! Meanwhile, we are watching the U.K. trend of things with great interest. Sincerely,  Mr. Gordon Pepper  England  PAV:ccm   http://fraser.stlouisfed.org/ a. Federal Reserve Bank of St. Louis  ),  Lia'.4  9 1979  27 ' - t1 / 4 -3 -,41.SA  19)  A. V.  \  y  ANSWERED ATTENDED  1••••  •MONIMIONOIR  .1V 1.216.3/  1  ..121,0•••  cAc211.i.r,t I ct.4  6  cA-e -70-t 0-ta  1 - (vic0°  40.Yr"  i;),11-')`   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  coRJ)0.0 Pt.--Pfge   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 17, 1979  Dear Pete: I lid appreciate your note on my appointment. Now -- if you'd like to chair another commission on salaries, we could have a lit tle chat! Sincerely,  Mr. Peter G. Peterson Chairman of the Board Lehman Brothers Kuhn Loeb One William Street New York, New York 10004 PAV:ccm  ONE WILLIAM STREET NEW YORK,N. Y.10004  PETER G. PETERSON CHAIRMAN OF THE BOARD  July 27, 1979  ........  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, New York 10045 Dear Paul: I am delighted for the country and for you!   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  (144e  ........  v  1P1 '  JUL 3 0 1979 e"  r-. A. . , AN SWERED .. .......... KITENDED To. .......  .....  ...........  ...  ...................   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  AEI  September 17, 1979  Dear Mr. Parvin: I do appreciate your note on my appointment, however belated the response. All I can do is try my best (and duck the brickbats sure to come). Sincerely,  Mr. Donald Parvin President and Chief Executive Officer Babcock International Inc. 1616 North Fort Myer Drive 22209 Arlington, Virginia  PAV:ccm   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  •  Babcock International Inc. 1616 NORTH FORT MYER DRIVE ARLINGTON, VIRGINIA 22209 Telephone 703 522-0700 Telex 89-575  DONALD PARVIN President and Chief Executive Officer  July 26, 1979  Mr. Paul A. Volcker President Federal Reserve Bank of New York New York, New York 10045 Dear Mr. Volcker: Having had the very pleasant opportunity to participate in one of your luncheon meetings for business executives at the Federal Reserve Bank in early 1977, when I was directly involved in the day to day operations of our principal United States subsidiary company, Acco Industries Inc. (formerly American Chain & Cable Company, Inc.), I felt that it would be appropriate for me to add my congratulations to those you will already have received from many quarters upon your nomination as Chairman of the Federal Reserve Board. I believe that you will have been most gratified by the universally positive response to your nomination. I am indeed sure that this is because it is widely recognized that a very firm hand is needed in the determination of monetary policy at the present time. Please accept my very best wishes for outstanding success in your new demanding role.  /46,10t6LI(A, .40/  Yours sincerely, t,  1,/k  Donald Parvin  -to  lalCo+"  ussA)-  "  RECEiVED JUL 3 0 1979  DP/gg/897  A. V.  ANSYVERED ATTENDED TO  A subsidiary of Babcock & Wilcox, Limited, an independent British company  I.•••   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  August 9, 1979  Dear Victor: Leaving, the Foundation is not one of the joys of this change for me--even if the Foundation will proceed without a momentary shudder thanks to you and so many others. Thanks for writing. Regards, Sincerely,  Paul A. Volcker  Mr. Victor H. Palmieri  ‘.1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  VICTOR H. PALM I ER I August 3, 1979  The Honorable Paul Volcker Chairman Federal Reserve Board 20th and Constitution, N.W. Washington, D.C. 20551 Dear Paul: Just a note to express congratulations and best wishes on your appointment as Chairman.  the  The Rockefeller Foundation's loss is country's great gain. Best personal regards. Sincerely yours,  /t4 VHP:jc   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August  in,  1979  Dear Bill: The question is whether I sleep better--so far so good. It was great to hear from you and someday I'll get to Texas. Sincerely,  Paul A. Volcker  Mr. William Pannill Pannill and Hooper 1100 Milam Building Suite 580 Houston, Texas 77002   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  PANNILL AND HOOPE I? ATTORNEYS AT LAW 1100  MILAM BUILDING SUITE 580  HOUSTON,TEXAS 77002  (713) 659-8090  July 27, 1979  Honorable Paul A. Volcker, Chairman-Designate, Federal Reserve Board, Federal Reserve Bank of New York, Federal Reserve Post Office Station, New York, New York 10045  Dear Mr. Chairman: I was really delighted to hear that President Carter had had the fine judgment to appoint you as Chairman of the Federal Reserve Board. Like the gnomes of Zurich, I slept better knowing that you are to take care of the dollar. There are not many gnomes in Texas, but if you ever find yourself here I hope you will let me know. Congratulations again. Sincerely,  William Pannill WP:ea  A   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August  197q  Dear Mr. and Mrs. Pash: appreciate your note, and hope I have some of that good luck. Sincerely,  Paul A. Volcker  Mr. and Mrs. Edgar A. Pash   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  a  laigust 17, 1979  Mr. Jose Maria Dagnino Pastore President Banco Argentino de Inversion Av. Leandro N. Alem 822 1001 Buenos Aires, Argentina Dear Mr. Dagnino: I appreciate your note and can only try my best. Sincerely,  Paul A. Volcker  PAV:mhw  BANCO ARGENTINO DE INVERSION  F4  Buenos Aires, August 2nd.1979  Mr. Paul Volcker Chairman of the Board FEDERAL RESERVE SYSTEM Twentieth Street and Constitution Av. N.W. WASHINGTON, D.C. - 20551  LID  1- 1  LC,  43,  Dear Mr. Volcker, CC)  I was very pleased to hear of your nomination as Chairman of the Board with the Federal Reserve System. My sincere congratulations and best wishes of success in your new position. Sincerely yours, BANCO ARGENTINO DE INVERSION S.A.  OP'  Josg Maria Dagnino Pastore Presidente  11  Av. Leandro N. Alem 822 - 1001 Buenos Aires - C. C. 5398 -CC - Telefonos: 32 -4471 al 79 - Dir. Telegrafica:BAINVER  http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 15, 1979  Dear Dean Patchias: Many thanks for your note.  After all the  fanfare, the work begins. Sincerely,  Paul A. Volcker  Mr. James C. Patchias Dean Adelphi University Schools of Business Carden City, Long Island, New York 11530  PAV:mrk  Adelphi Univt,fsity Schools of Business GARDEN CITY, L.I., N.Y.11530 / (516) 294-8700  SCHOOL OF BUSINESS ADMINISTRATION SCHOOL OF BANKING AND MONEY MANAGEMENT  OFFICE OF THE DEAN  August 3, 1979  Mr. Paul A. Volcker Chairman-designate of the Federal Reserve Federal Reserve Bank of New York 33 Liberty Street New York, New York 10045 Dear Mr. Volcker: On behalf of the Faculty and Administration of the School of Banking and Money Management and the School of Business Administration, I offer you warm and sincere congratulations for your selection as the Chairman of the Board of Governors of the Federal Reserve. I am convinced that your appointment is a great asset to the nation in both the short run and the long run. I enthusiastically support your commitment to fight inflation at home and restore international confidence in the dollar and the United States economy by carefully charting a disciplined monetary policy course of action. I do wish you continued success in the future. With best regards, Sincerely,  James C. Patchias Dean  RECEIVED JCP:jr   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  AUG  7 1979  P. A. V. ANSWERED ATTENDED TO   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 17, 1979  The Honorable I. G. Patel Governor Reserve Bank of India Central Office Bombay, India Dear Governor: I appreciate your note, and of course share the feeling that strengthening our mutual relations can only be in the interest of both our countries. Hope to see you in Belgrade. Sincerely,  Paul A. Volcker PAV,jrz  414rit GOVERNOR   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  I:4 ARP -  1979  RUr. 1 6  47314 Vzil'wf kik iv -  RESERVE BANK OF INDIA  D ts•  CENTRAL OFFICE BOMBAY  August 8: 1979  Dear Mr. Chairman,  May I extend my hearty congratulations on your assuming the office of the Chairman of the Board of Governors of the Federal Reserve System?  I assure you of the fullest co-operation  of the Reserve Bank of India and hope that the mutual relations between the two Central Banks will be further strengthened with you at the helm of affairs of the Federal Reserve. With best regards, Yours sincerely, I  214-1;:l  (I.G. Patel)  Mr. Paul A. Volcker: Chairman of the Board of Governors, Federal Reserve System, WASHINGTON. (U.S.A.)  pwr ;.11`.  FEDERAL RESERVE BANK OF NEW YORK . • .......  NEW YORK. N.Y. 10045 ••............  AREA CODE 212 791-6173  PAUL. A. VOLCKER PRESIDENT  August 1, 1979  ...  Dear Les: I appreciate both the note and the imagery. The "thousand pleasures" are exceedingly improbable, so all I can try to do is avoid the Inferno. Many thanks. Sincerely,  Paul A. Volcker ...............  ............................  Mr. Leslie C. Peacock Vice Chairman Texas Commerce Bancshares, Inc. P.O. Box 2558 Houston, Texas 77001   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  •  ...............  ........  ..  .......  ..  . • ....  .................................................................  •.  • .............  ............ . ....... • .  • .   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  TEXAS COMMERCE BANCSHARES,INC. July 26, 1979 P.O. Box 2558 Houston, Texas 77001 (713) 236-4018  LESLIE C. PEACOCK Vice Chairman  The Honorable Paul A. Volcker Chairman-Designate Board of Governors of the Federal Reserve System Washington, D. C. 20551 Dear Paul: Seeing one's old friend become Chairman of the Fed is a little like watching a friend enter Aladdin's cave: you don't know whether to celebrate because he's being whisked away to a thousand Arabian pleasures or to weep at the thought that he might take the wrong route and be cast into Mohammed Dante's Inferno. So, as I watched you on television last night, I simply decided that the country is darned lucky to have you where you are; and, whether you enjoy it or not, I know for a fact that we shall all be better off. Congratulations, Paul, and the very best of luck in a tough, tough job. Sincerely yours,  LCP:bgs  ''.  Texas Commerce Bancshares, Inc.  4,1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 16, 1979  Mr. Robert H. Pease Chairman of Finance Committee Draper and Kramer, Inc. 30 West Monroe Street Chicago, Illinois 60603 Dear Bob: Better that I were on that trout stream:  In fact,  that's where I intended to be. You're right about the problems and the challenge. All I can do is try for -- and hope for -- the best. Sincerely,  Paul A. Volcker PAV:smk  DRAPER KRAMER incorporated REAL ESTATE MANAGEMENT • SALES • MORTGAGES  established 1893  30 west monroe street • chicago, illinois 60603 • (312) 346-8600 TW X 910-221-1265  ROBERT H. PEASE Chairman of Finance Committee  August 8, 1979  Paul Volcker, Chairman Federal Reserve Board Washington, D.C. Dear Paul: I am out in Montana trout fishing but I heard the news of your appointment as Chairman of the Federal Reserve Board. This is wonderful news for the country and the financial community, and I congratulate us on the good fortune of having you in a highly sensitive position. During the time you were on the FNMA Board, I had ample opportunity to witness your excellent judgment and careful analytical approach to any problem. You are coming in at an important and difficult time, but that is what makes it such a great challenge and such a wonderful opportunity. Sincerely yours,  RHP:j  .77.1  ••  MINNEAPOLIS   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  LOS ANGELES  ST. LOUIS  ATLANTA,GEORGIA COLUMBUS,OHIO  MILWAUKEE BOCA RATON,FLORIDA   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear Joe: I appreciate the note -- and even more the chance to be in touch in Washington. you both, Cordially,  Paul A. Volcker  Mr. Joseph A. Pechman Director of Economic Studies The Brookings Institution 1775 Massachusetts Avenue, N.W. Washington, D.C. 20036  PV/tn  Our best to   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ip The 73rookings Institution III 1775  MASSACHUSETTS AVENUE N.W./ WASHINGTON  D.C. 20036/ CABLES: BROOKINST  TELEPHONE: (202) 797-6000  Economic Studies Program July 25, 1979  Dear Paul: Sylvia and I were delighted to learn of your nomination to be Chairman of the Federal Reserve Board. You richly deserve this post and we're sure you will serve with distinction. It will be good to have Barbara and you back in Washington. If you return in time, we hope you will both come to our annual fall Brookings party. Congratulations and best wishes, Cor  Jos Dir  lly,  A. Pechman tor of Economic Studies   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 PRESIDENT  August 6, 1979  Dear John: I appreciate the note.  We  will be in touch. Sincerely,  Paul A. Volcker  Mr. John H. Perkins President Continental Illinois National Bank and Trust Company of Chicago 231 South LaSalle Street Chicago, Illinois 60693  At AICAN BANKERS ASSOCIATION  1120 Connecticut Avenue, N.W. Washington, D.C. 20036  July 26, 1979 PRESIDENT John H. Perkins President Continental Illinois National Bank and Trust Company Chicago, Illinois 60693  Mr. Paul A. Volcker, President Federal Reserve Bank of New York Federal Reserve P. O. Station New York, New York 10045 Dear Paul: Like just about everybody else, all of us were absolutely delighted with your appointment. There is little to add to all of the nice things that have been said except to share them and wish you great success as we look ahead. With my ABA hat on, it probably is not too early to suggest that we get together fairly soon and talk about some of the very important legislative balls that are in the air which will be very much on your platter in your new job as well as they were in your old one. The Federal Reserve membership bill has had a number of interesting twists and turns. I think it might be useful if we had a chance to visit and talk some about this from the perspective we see. In particular, it might be helpful to bring you up-to-date on the developments of the last couple of weeks, the actions through the House, and the conversations that have been taking place with Proxmire's people. Also, it probably would be worth visiting some on other matters, such as the very important Senate bill on Regulation Q and third party transaction accounts and what might be done before the January 1 effective date for the court order implementing the decision earlier this year. Of course, this all assumes--as it seems safe to do--that your confirmation will set a record getting through the Committee and the Senate. Again, best wishes and looking forward to working with you. Sincerely,  RECLIV JHP:IRK   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  /a  21919  P. A. V. ANSWERED  WENDED  ....  .......................  g CONTINENTAL BANK CONTINENTAL ILLINOIS NATIONAL BANK AND TRUST COMPANY OF CHICAGO • 231 SOUTH LA SALLE STREET, CHICAGO, ILLINOIS 60693  July 30, 1979  JOHN H. PERKINS PRESIDENT  Mr. Paul A. Volcker, President Federal Reserve Bank of New York Federal Reserve P. O. Station New York, New York 10045 Dear Paul: The report I get is that the hearings went very well this morning. It was good to talk to you at length yesterday and I hope the background may prove useful. More important is looking to the future. Obviously we have some pretty major issues on the table right now that will be with us for some time and I certainly hope that we will have an opportunity to touch base constantly to the mutual benefit of everyone. One thought does come to my mind which has to do with the constant and seemingly endless series of hearings and issues that have to be acted upon constantly in the legislative process. I suppose that it is inevitable when we have our own special committees in the House and Senate with so many activist members. In any event, it does seem to me as I look back over the last couple of years that sometimes we get too busy with the current matters of the moment that necessarily receive high priority. It does seem to me that it might be useful to you from time to time if we could spend a little time review ing the broader issues in the legislative regulatory area more from a strate gy standpoint. In this process, I keep hoping that we cannot only take care of the day-to-day work as needed but by sitting back once in awhile, we can focus with some sense of priority on the issues of major importance and develop appropriate strategies. Again, let me offer the congratulations and best wishes of everyo ne as we look forward so hopefully to your taking on this terribly challenging assignment in what has to be one of the most difficult periods we have seen for a long time. Sincerel  RECEIVED JHP:IRK   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  /a3 3 1979 P. A. V. ANSWERED "* .......... ATTENDED  SUBSIDIARY OF CONTINENTAL ILLINOIS CORPORATION   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Lear Hart: Thanks so much for writing.  Sometimes  I think I'm crazy, but all we can do is try. Sincerely,  'Jaul A. Volcker  Mr. Hart Perry energy Assets International Corporation 405 Lexington Avenue New York, New York 10017  PAV:ak   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ENERGY ASSETS INTERNATIONAL CORPORATION The Chrysler Building  405 Lexington Avenue New York, N. Y. 10017  Gkb-o-v  (212) 867-7400  PLAJ  ddzy d )AAA 07-ref A-4 4,6 r60&4A1tAii t9744,v4A4,d LArovyaZ4  tAr#v  6772:t4,44f.  ..‘ta • 4  ?Ik ( t•  4 4/ V4 , 44  Al l °  •  tAki-   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 4, 1979  Dear Ralph: All I have heard are bad reports from Canada -- but I take it Iceland is still producing. Someday! Meanwhile, many thanks for your note.  I'll need the  help and some luck. Sincerely,  Paul A. Volcker  Mr. Ralph F. Peters President Discount Corporation of New York 58 Pine Street 10005 New York, New York  PAV:ccm  4   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  DISCOUNT CORPORATION OF  YORIc-  1  58 PINE STREET NEW YORK,N.Y. 10005 RALPH F. PETERS PRESIDENT  August 28,  1979  Mr. Paul A. Volcker, Chairman Board of Governors of the Federal Reserve System 21st & Constitution Avenue, N.W. Washington, D.C. 20551 Dear Paul: I have just returned from a wonderful vacation in Iceland and managed to take a twenty-two pounder, my largest to date. I thought of you and still harbor the lovely hope that we will manage someday to wet a line together. I would just like you to know haw appreciative I am that you have accepted the challenge to lead our Central Bank. We all have great confidence in your ability and offer our total cooperation and best wishes for success in all your efforts. Sincerely,  per--  ••;,.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Howard: Many thanks for the note--even if you grievously misread my "guidance" to the Advisory Committee. I have a conflict and may miss the September meeting, to my regret. I'll see you soon in any event. My best to both of you. Sincerely,  Paul A. Volcker  Mr. Howard C. Petersen   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  HOWARD C. PETERSEN  August 14, 1979  Mr. Paul A. Volcker C hairman Board of Governors Federal Reserve Bank Constitution Avenue at 20th Street, N.W. Washington, D. C. 20551 Dear Paul: Heartiest congratulations on your appointment. In my judgment no one is better qualified to undertake the heavy burdens of your new position. I congratulate you, but the main congratulations are for the Carter administration. Hope to see you at the meeting of the old Treasury Advisory Committee on International Monetary Affairs which is upcoming in September. You used to guide this group very skillfully to obtain the results you wished to achieve. All best wishes. Sincerely,  CHAIRMAN OF THE BOARD OF GOVERNORS  • `.4. •o • '11  • --A "...:0   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  %A% .  '2• LI.J •  FEDERAL RESERVE SYSTEM  i- • vl. S.  WASHINGTON, D. C. 20551  (-) • <v.' RAL RE-5-••  August 24, 1979  Dear Jane and Ralph: I appreciate the note on my appointment. Now that it's done, I don't feel so doubtful about taking it on, but one of the real "downers" is giving up the "outside" activities--most of all Rockefeller Foundation.  But then, I have no com-  parative advantage there with you and the others on the alert. All the best, Sincerely,  //& 41/e" Paul A. Volcker  Ms. Jane C. Pfeiffer Chairman of the Board National Broadcasting Company, Inc. 30 Rockefeller Plaza New York, N.Y. 10020   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  NBC  National Broadcasting Company, Inc.  Thirty Rockefeller Plaza New York, N.Y. 10020 212-664-4444  Jane C. Pfeiffer Chairman of the Board  July 25, 1979  Mr. Paul A. Volcker Chairman Designate Board of Governors Federal Reserve System 33 Liberty Street New York, NY 10045 Dear Paul: your I just heard the wonderful news of say, nomination this morning! Needless to ud Ralph and I are delighted and very pro of you. the You will be an excellent Chairman of ointment Federal Reserve, and my only disapp kefeller is that we will miss you at the Roc Foundation. With warm personal regards,  Jane  RECEIVED JCP:bem  JUL 27 1979 P. A. V. ANSWERED ATTENDED TO.,  „  “Ofil•   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 22, 1979  Dear Dr. Picciano: I appreciate the note and kind words -- and anyone willing to have my picture is welcome to it. It's particularly convenient for the darts you would no doubt like to throw from time to time -but I hope not always. Sincerely,  Paul A. Volcker  Dr. Frank F. Picciano Chairman of the Board of Directors State Bank of Long Island h99 Hillside Avenue New Hyde Park, New York 11040 PAV:smk  1979 111.1., 20 Pu. 111: 43 State Bank of Long Island   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Dr. Frank E. Picciano Chairman of the Board of Directors  August 16, 1979  Honorable Paul Volcker Chairman, Federal Reserve Board Washington, D.C. Dear Chairman Volcker: Congratulations and good luck on your appointment as Chairman of the Federal Reserve System. We at State Bank share the trust and confidence shown you by the President and Senate and look forward to strong and astute leadership from a highly qualified man like yourself. The Banking Community is unanimously pleased with your appointment and we are confident of your independent and forthright administration of the Federal Reserve. An autographed photograph of Paul Volcker to place along with Arthur Burns would be appreciated. I  Cordially  hetee-tia-e Dr. Frank  Picciano  FEP/mh  699 HILLSIDE AVENUE • NEW HYDE PARK, N.Y. 11040 • (516) 437-1000   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  • of Govt4:• •• 0 4, • CHAIRMAN OF THE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM WASHINGTON, D. C. 20551  Dear Mary: I have thought often of you and Fred in these trying days, and couldn't help but be touched by your letter. Thank God for that wonderful supporting cast you have--I feel more helpless than usual as I move off to Washington. You are in my prayers--but please let me know if I can do anything to ease your way more tangibly in the days ahead. You have both been too strong and solid to let this conquer your spirit. Barbara joins me in sending fond wishes. Sincerely,  Paul A. Volcker  Mrs. Fred W. Piderit, Jr.  t-w  I  La.  1—•—•  •  10-0-1(e  e  •  1-rv  -I-el-wi7-1AI/  • c-7)  r  p-Tc( -7(-1/7  rvete  i47')  .--17-16E  rt,16  r7-2)  4"r-PC  7 127)1477  ./-a/  Y2-A,  72"  _Lx./ _2_11/7  C--zze/  )1-772Z  ' 711 4  .92 P-r-1-77 t"-r7C/11  9 '"K 7 7  Ic ) c  (9-1-r 7'11 (   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  At.17e_41  11-riti  - CI+ IV9  -et-t-r,-74 (Y  IC,  dt—e  /e-V 10--)r-coc  eItyZ/Le--.1-4 0 (  ,ii/  e  P)77-74  Yttel  a-e  •  a  1,1,e c  a 4)  "iLt it-te  3,3Let_ eeei  4--6  /•.31 C  / C--  j2.4ki.)/  /-  /7 rl  ft-ct,f17)}1 let  ht,1  42  Z-it dee,/ cci  ilia 7172  •  i-.1-2c7/Cr  4rW  .7 itz...c )  7),11.  `'u J i122‘. yt7  1-V  C-4,e  1-7-1v-4(  ti/- 71 "-r)-0  (ft'Y  P:2746  ri/A  "W /7?   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  '  RECEIVED 2 1979 P. A. V.  AUG AN ATTENDED   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Ms. Pinsdorf: Many thanks for your note--you and others have brought back many warm memories of Teaneck. Now the work begins: Sincerely,  Paul A. Volcker  Ms. Marion K. Pinsdorf Vice President Textron Inc. 40 Westminster Street Providence, Rhode Island  02903   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  July 27, 1979 Marion K. Pinsdorf Vice President  40 Westminster Street Providence, R.I. 02903 401/421-2800 •  Textron Inc.  Dear Mr. Volcker: Congratulations on being named to head the Federal Reserve Board. I hope it brings you and your family much continued success and happiness. I was particularly proud as a third generation resident of Teaneck, who remembers well your father as Township Manager. I thought you might enjoy the enclosed cartoon from today's Providence Journal. Again, congratulations. Cordially,  644*-1  Ms. Marion K. Pinsdorf  Mr. Paul A. Volcker Chairman Designate Federal Reserve Board 33 Liberty Street New York, New York 10045 MKP/rwh Enclosure  RECEIVED AUG P.  ANSWERED ATTENDED TO  2 1979 A. V. _.•••  „  t Le U•  Removal Notice 7KHLWHPLGHQWLILHGEHORZKDVEHHQUHPRYHGLQDFFRUGDQFHZLWK)5$6(5 VSROLF\RQKDQGOLQJ VHQVLWLYHLQIRUPDWLRQLQGLJLWL]DWLRQSURMHFWVGXHWR copyright protections.  ŝƚĂƚŝŽŶ/ŶĨŽƌŵĂƚŝŽŶ Document type: editorial cartoon  Pages Removed:  Author(s): Dick Wright  Title:  Date:  July 27, 1979  Journal:  Providence Journal: The Evening Bulletin  Volume: URL:  Federal Reserve Bank of St. Louis  https://fraser.stlouisfed.org   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7, 1979  Dear John: The water seems to go over the dam faster and faster since those days at Chase. Maybe I can only put a finger in the dike (enough of these metaphors), but At seemed worth trying. Thanks so much for your good wishes. Sincerely,  Paul A. Volcker  Mr. John B. M. Place President Crocker National Bank One Montgomery Street San Francisco, California 94104  4   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  CROCKER NATIONAL BANK CALIFORNIA 94104 ONE MONTGOMERY STREET, SAN FRANCISCO,  JOHN B. M. PLACE PRESIDENT  July 27, 1979  Dear Paul, I am President Carter has made a wise decision. I delighted you are going to be at the helm and ion which know it will mean much in curbing inflat is a real disaster for our society. if there is Good luck in your new assignment and w. A anything I can do to help, just let me kno since we lot of water has passed over the dam both labored at the Chase. Very best wishes. Sincerely,  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty New York, New York   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 PRESIDENT  August 6, 1979  Dear Mr. Platt: Many thanks for your warm note. I can do is try my best. Sincerely,  Paul A. Volcker  Mr. Henry B. Platt President Tiffany & Co. Fifth Avenue and 57th Street New York, New York 10022  All   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  TIFFANY & CO. FIFTH AVENUE & 57111 STREET NEW YORK 10022 TELEPHONE,PLAZA 5-8000  HENRY B. PLATT PRESIDENT  July 31, 1979  Dear Mr. VolcKer, I wish to congratulate you and wish you every success with your new responsibilities. I can now sleep nights.  eGi e 7 ; RECEIVED AUG  3 1979  P. A. V. .. ANSWERED  ATTENDED TcLAW.....   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Karl Otto: I greatly appreciate your note -- and the time we will have to pick up some of those old strands of work. None of it looks very easy these days, but we can at least "hang together." Best regards,  Paul A. Volcker  The Honorable Karl Otto Poehl Vice President Deutsche Bundesbank Postfach 2633 Frankfurt 1, Germany  PAV:mrk  ,  c  c  L CI  r:  D  •  1 .9  L..' .11,2i-  'i• IL.. 1 •  . .  L . 1  Imunications Inc.  1  ,- LL ..--........ H 1 SSUi...,,Ei"• I i...J , • Ti-T:t..., i..,i .L-.;-..ciLY G kit-)6? • • ,. ,., , ...: ::,.. i . .•:. -,.,C(;::_ISS FOR Ii.-iiL DI FF I Li iji  I i  -7 ,.j 4  4-;   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ;-  i 64 .,-1.1.-.',.R (...)C C AS I ONS• .1 :i--I6 AS • ii Ur LL, TO S Li.,  L>k, 44004J .**.e.,4"4'i itt 1443.10- kaniF   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ,  1 ''t.  I I...  ...  -. . i ...., .i .  „2  i tl  . A  .  : _  k.; •   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  September 4, 1979  Dear John: I appreciate the note, and promise I will try to avoid the bull. Glad to hear the consulting is going well -- just consult with me (for free) if there is something I should know. Best wishes,  Paul A. Volcker  Mr. John M. Porges President InterAmerican Financial Services Ltd. 575 Madison Avenue New York, New York 10022  PAV:ccm  AEI  INTERAMERICAN FINANCIAL SERVICES LIMITED NEW YORK OFFICE - 575 MADISON AVENUE - SUITE 1006 NEW YORK, NEW YORK 10022  August 28, 1979 LID ---...I  Mr. Paul A. Volcker, Chairman Federal Reserve Board Washington, D.C. 20551 Dear Paul: dm•••••••  Congratulations on your new appointment. Due to the fact that I had been travelling, I was remiss in writing sooner. These are certainly difficult and challenging times to be running the Fed and even in a political year it is comforting to know that there is a bullfighter there who is keeping his eye on the bull. I also hope the beneficent aroma of cigars will keep everyone alert and on his toes. Last August I returned to New York from Venezuela and formed a financial consulting company which has been doing very well.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  With best wishes; Sincerely,  orges John M President  4,1t ut41  , Nr. TEL (212) 486-1903 TELEX:  WU-125864 • RCA-237699  r-1 C.3   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 17, 1979  Kr& lug. Svatopluk Potse Presideat Statni Banks Ceskoslovenska CS-.110 03 Prague, Czechoslovakia Namara freaident: I appreciate your letter and congratulattsMs, sMd share your wish of developing cooperation between out institutions. Sincerely,  Paul A. Volcker PAV:mhw  STATNI BANKA CESKL-DLOVENSKA PRESIDENT Praha, August 7, 1979  o 5-   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  hi. Mr. Chairman,  7.3  allow me to convey to you, on behalf of the St6tni banka 6eskoslovenska, and also per so nally, my sincere congratulations on the occasion of being appointed Chairman of The Board of Governors of the Federal Reserve System.  I seize this opportunity to wish you a lot of success and, above all, health in performing this highly responsible function. I believe that the cooperation between the Federal Reserve System and our bank will be further developing in the spirit of the traditionally good and friendly relations.  c\ b'rmaP)441 k#4  Yours sincerely, t/c1 Ing. Svat pluK Pot6C  Mr. Paul A. Volcker Chairman of the Board of Governors of the Federal Reserve System Washington   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  I appreciate the noto and good wishes.  Stay   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  MORGAN GUARANTY TRUST COMPANY OF NEW YORK 5 23 WALL STREET, NEW YORK, N.Y. 1001  ;ze-4 Wcva 7 ,A  July 26th, 1979  LEWIS T. PRESTON President  Mr. Paul A. Volcker President Federal Reserve Bank 33 Liberty Street New York, New York 10045 Dear Paul: I tried to reach you by phone to offer my congratulations and condolences.  The country is  pared to make fortunate to have someone like yourself pre nion, the President the personal sacrifice and, in our opi made the best possible choice. With best wishes and, again, congratulations. Sincerely,  RECEIVED JUL 3 0 1979 P. A. V. ANSWERED ATTENDED TO  4Or .......••••••%   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 14, 1979  Mr. Herbert V. Prochnow One Figst Naieonal Plaza Chicago, Illinois 60670 Dear Herb: Many thanks for writing. And more important, let all that accumulated wisdom of yours continue to shine in this office once in a while. Sincerely,  PAV:Cem  41M1  732-8886  HERBERT V. PROCHNOW ONE FIRST NATIONAL PLAZA -SUITE 2538  CHICAGO,ILLINOIS 60670  August 1, 1979  Mr. Paul A. Volcker President Federal Reserve Bank of New York New York, New York 10045 Dear Paul: Congratulations both to you and to the country for your nomination for the Chairmanship of the Federal Reserve Board. I happened to be in Paris at the time of the announcement meeting with about a dozen of the heads of the world's major banks. All of them were greatly pleased with the announcement. You have had a distinguished career and I am sure will make a further significant contribution to the country. With best wishes, I am Very sincerely yours,  t.  ANSWERED ATTENDED To  pV  http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  I.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dr. Antonio Puja Subdirector General Banco Hispano American° Relaciones Exteriores Serrano, 47 Madrid - 1, Spain Dear Dr. Puja I appreciate your note.  Now the work begins.  I can only try my best. Sincerely,  Paul A. Volcker  PAV:mhw  E3AN CO H IS PANO AM ER ICANO  ANTONIO  _MADRID SUBDIRECTOR GENERAL  July 28, 1979  Mr. Paul Volcker Chairman of the Board Federal Bank of Reserve 20th Street at Constitution Avenue Washington, D.C. 20551  Dear Mr. Volcker, I learn from the international press your recent designation as Chairman of the Board of the Federal Bank of Reserve of the United States. It is a great pleasure for me to congratulate you for such an important position. In our bank we are sure that your activity will be largely successful since we know your strong value and wide experience. e With all my best wishes of continued success, please receiv my warmest regards. Sincerely yours,  ty:ate-  ct,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  (uo tvP  rfflfr  fryt't rvuit' Dr. Antonio Pula  P'4/  PUJA  r ZA///./////.1././././Z/Z/////// PAR A VION  CORREO AEREO VIA AIR MAIL  7.  /   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Tlaul 17rN7.re1-,er Chairman of the Board Federal Bank of Reserve 20th Street at Constitution Avenue Washington, D.C. 20551 U. S. A.  BANCO HISPANO AMERICANO RELACIONES EXTERIORES SERRANO, 47 MADRID -1  zzz-zzzzz-zziedwmAsiezzzzi-zzlA  :///.///XV// ///./&//'////////////   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  1  .1L-R : At= SEC=IN  //  / /, / if///// //IF  /./Z"   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  August 6, 1979  Dear Bob: Thanks so much for writing.  All we can do is  try! Sincerely,  Paul A. Volcker  Mr. Robert T. .711ittmeyer President Amstar Corporation 1251 Avenue of the Americas New York, New York 10020   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Amstar  CORPORATION  1251 AVENUE OF THE AMERICAS, NEW YORK, N.Y. 10020  - (212) 489-9000  ROBERT T. QUITTMEYER President  July 30, 1979  Mr. Paul A. Volcker Federal Reserve Bank of New York New York, N. Y. 10045 Dear Paul:  Congratulations on your nomination to Chairman of the Federal Reserve Board in Washington. It will certainly be a sacrifice for you, but it will be a big plus for the country having you in your new position. Best regards. Sincerely,  Gt)-   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  August 20, 1979  Dear Mike: Many thanks for the warm note. All that nice press will soon be gone, and we'll see how fast the brickbats come. But we can try: I'll expect to see something of you here. All the best, Sincerely,  Paul A. Volcker  Mr. Myer Rashish Consulting Economist 818 Connecticut Avenue, N.W. Washington, D. C. 20006  MYEfR  RASHISH E.CON101,11IST  818 CONNECTICUT AVE N LIE. !s.. WASHINGTON. D. C. 20006 I2021  466-6700  July 30, 1979  Honorable Paul Volcker President New York Federal Reserve Bank 33 Liberty Street New York, New York 10045 Dear Paul: I would like to add my drop to the flood tide of congratulations which you have by now received on your appointment as Chairman of the Fed. Your appointment was an occasion for celebration at the end of a fortnight that provided little reason for cheer. 1 can imagine that your decision was not an easy one, but I hope that it will prove to be a source of satisfaction to you at least equal to the value which we all anticipate from it for the country and the world. With warmest regards and every good wish.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  A 4A t44..  ,  I,  0  2 197  P. A. V. ............... ........... .... , ANSWERED ........ ....... ............. ATTENDED TO,„„,„.....  August 7, 1979  Dear Joe: When the difficult problems and people get too tough, I'll come up for air in New York. appreciate this note.  All we Gan do is try our best. Sincerely,  Paul A. Volcker  Mr. J. V. Reed, Jr. Vice President and Assistant to the Chairman The Chase Manhattan Bank, N.A . I Chase Manhattan Plaza New York, New York 10015  PAV:smk   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Meanwhile, I   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  The Chase Manhattan Bank, N. A. Chase Manhattan Plaza New York, New York 10015  111111  J. V. Reed, Jr. Vice Pres!dent and Assistant to the Chairman  111111  CHASE  July 26, 1979  Dear Paul: Bravo on your new appointment! I have every confidence that you will be able to deal with the difficult time (and difficult people). With all good wishes, Sincerely,  \,\ Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, NY   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 21, 1979  Dear Tom: The only IS  I've been able to discover on this job is  hearino from some old friends and comrades in arms.  I hope it's  not out of keeping with my role to say, as I look e.st, I wish a few of the old stalwarts were still on the Hill.  Watch out for  those offers of help 0- I may just take advantage of it! In any event, hope to see you. Best regards,  Paul A. Volcker  Mr. Thomas M. Rees Agprnex at Law, P.C. ll'OrtEffinecticut Avenue, N.W. Washington, 5. C. 20036  THOMAS M. REES ATTORNEY AT LAW, P. C. 1101 CONNECTICUT AVENUE, N. W. WASHINGTON, D. C. 20036 (202) 223-6244  August 2, 1979  Paul Volcker Chairman Federal Reserve Board 20th and Constitution Streets, N.W. Washington, D.C. 20551 Dear Paul: I was delighted to hear of your appointment as Chairman of the Fed. I immediately called my broker, sold gold short, and dollars long. I suspect you have mixed emotions on returning to Washington. I would hope, though, you would give me a call anytime I might be of assistance. Even though I am happily established in the private sector, I still find that the motivations which caused me to serve in Congress still remain, and I will be glad to offer some of my pro bono time for good causes. I am especially concerned with the problems of congressional action on the International Monetary Fund and the IFI's. August is a terrible month to return to Washington, but we--the survivors--welcome you back. S ncerely yours,  • Thomas M. Rees TMR:rlc   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  • of Govki; 4t... .*• o o• • 40 •o • -71 •  CHAIRMAN OF THE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM  • ••••  WASHINGTON, D. C. 20551  • , TAL ••.. • • •  August 24, 1979  Dear Don: However belatedly, thanks so much for your nice note of July 25.  I appreciate  your kind words, but more your offer of help. I may just need it. With best wishes, Sincerely,  Paul A. Volcker Mr. Donald T. Regan Chairman of the Board Merrill Lynch & Co. Inc. One Liberty Plaza 165 Broadway New York, New York 10016  One Liberty Plaza 165 Broadway New York, New York 10006 212 766-5630  Merrill Lynch & Co.Inc.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Donald T. Regan Chairman of the Board  July 25, 1979  Dear Paul: I was delighted to hear the news of your nomination as Chairman of the Federal Reserve. My congratulations: Although the challenges ahead are many, with your background and knowledge, I am confident you will do a great job. If I, personally, or our organization can be of help to you, please feel free to call on us. With my best wishes and kindest personal regards. Sincerely,  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street 10045 New York, New York  RECEIVED JUL 27 1979 P. A. V. ANSWERED ATTENDED TO  ...... •• .......... ..•••••••••••••• .......... •••  FEDERAL RESERVE BANK OF NEW YORK NEW YORK.N.Y. 10045 AREA CODE 212 791-6173  PAUL A. VOLCKER PREsIcENT  August 1, 1979 •  Dear Emmett: I'll see you before you get this, but I do appreciate the note! Best wishes. Sincerely,  Paul A. Volcker ...................................................................... ........................................................... ........................................................................ •................................................................... .........................................................................  .............................................................. ..........................................  ............................................ .......................... .................................................................... ......................................................................... .........................................................................  The Honorable Emmett J. Rice Board of Governors of the Federal Reserve System Washington, D.C. 20551  ............................................. ........................................................................ ...................................................................... ....................................................................... ............................................................... ................................................................. •.......................................................................... ............................................................................ ..................................................................... •......................................................................... .................. ....... ............................................. .................................................................. ......................................................................... ...................................... — ...................................................................... ...................... ......................................... ....................................................................... ......................................................................... . ... . ............................................................... .. ..................... . ............................................ .... .............................................................. .......................................................................... . ........ . ........ ..................................................... .................................................................... ..................................................................... ......................................................................... .......... ................................ ................ ........ ...................................................................... ........................................................................... • .......................................... ......................  .........................................................................  .....................  ...................................  ....................................................................... ............................................................... ............- ........ .. .......................................................................................................................................................................... ........ . ..... .......... ................ . • ....................................................................................................................................................................................... • • . ......... ...................................... ....................................................................................................................................... .................................. • •.• .... . .. .... . . .......... . ........ ............ . . .....1......................................................... ... . ....... ,............. .................. 1. ..... '................................:....... ........................ ........ ................................ .....................................................•........ ................... • ....................................... .............. .. ..  I.  1.... ... .......  ............................ ....... . • .. • ............................................ ................... ...... ....................................................................... . . ..... . .................................... . ........ •.•  ......................  ..................................   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ....... ........................... .............................. •   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ...• •  BOARD OF GOVERNORS  .*• ofGoVE'•  OF THE  O •  FEDERAL RESERVE SYSTEM WASHINGTON EMMETT J. RICE  July 25, 1979  MEMBER OF THE BOARD  The Honorable Paul A. Volcker President Federal Reserve Bank of New York New York, New York 10045 Dear Paul: You are a great choice, and I congratulate you. I look forward to the pleasure of working with you on a daily rather than monthly basis. Sincerely,  RECEIVED JUL 26 1979 P. A- . V. ANSWERED ATTENDED TO,   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 PRESIDENT  August 6, 1979  Dear Mr. Rice:  •  Thanks for your kind note.  I  can only try my best. Sincerely,  aaka-t_ Paul A. Volcker  Mr. George F. Rice Assistant Secretary Chemical Bank 940 Madison Avenue New York, New York 10021   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ClrEMICAL George F. Rice  940 Madison Avenue, New York, NY 10021 Tel:(212)922-5150  Assistant Secretary  August 1, 1979  Dear Paul: Little did I realize when I met you at Bob Jacobsen's party a couple of months ago that I would be addressing the next chairman of the Federal Reserve Board. I am sure I echo the sentiments of the entire financial community in expressing my delight in learing of your appointment by the President. These are troublesome times for our country and I am relieved to know that our monetary system will be directed by someone with such extraordinary credentials. Heartiest congratulations and warmest personal regards. Sincerely,,  GFR:mr Honorable Paul A. Volker Chairman - Designate The Federal Reserve Board of Governors 33 Liberty Street New York, N. Y. 10005  RECEIVED AUG ANSWERED  3 1979   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 PREsiDENT  August 6, 1979  Dear Art: Just wait awhile--you can throw darts at the picture: Thanks for writing. Sincerely,  aa-e Paul A. Volcker  Mr. Arthur M. Richardson President and Chief Executive Officer Security New York State Corporation One East Avenue Rochester, New York 14604  ONE EAST AVENUE • ROCHESTER • NEVV YORK • 14604  OL1ii!fg  94;JY se (“   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  SECURITY NEW YCIRK STATE CORPORATION  ARTHUR M. RICHARDSON President & Chief Executive Officer  July 30, 1979  Mr. Paul A. Volcker, President Federal Reserve Bank of New York 33 Liberty Street Federal Reserve P. O. Station New York, New York 10045 Dear Paul: My ambitions are fulfilled! I finally know a Fed chief by his irst name! I also found an old picture taken with both of us and I am going to have it reframed just to impress my fellow bankers with my incredible clout.  II  Seriously, the best of everything, my friend. Since e y,  hur M. Richardson AMR:av  RECEIVED  A NSWERED ATTENDED TO  ..   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Bob: I appreciate the note and good wishes. all the nice notices, the work begins.  We shall see.  Sincerely,  Paul A. Volcker  Mr. Robert H. Riley Vice President The Chase Manhattan Bank, N.A. 1 Chase Manhattan Plaza New York, New York 10015  After  C3'  itfl  .A.  Robert H.  1 Chase Manhattan Plaza New York, New York 10015  Vice President  '  July 30, 1979  Mr. Paul A. Volcker President Federal Reserve Ban'' of NY 33 Liberty Street New York, NY Dear Paul: Congratulations amongst many I am sure. Gold has now been stretched almoot certainly to one of its longest human forms! Length has conquered breath. Sincerely, though, hest of luck especially with your "friends" the French. If you need any help . with odds or ends, do not hesitate to ask (less than a job which I don't need). Since finishing law school, my advocations are less time consuming. Best regards. Sincyely, /;;;" / Se . ----. ,.."Robert H. Riley RHR:mc k\gj UY' vQ• )  10 4   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  RECEIVED AUG  2 1979  . A. V. ANSWERED ATTENDED   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Bob: I do appreciate the letter.  Just occasionally,  help me stay in touch. Sincerely,  Paul A. Volcker  Mr. Robert B. Rivel President Union Dime Savings Bank 1065 Avenue of the Americas & 40th New York, New York 10018  PAV:mrk  ONION DIME SAVINGS BANK   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Robert B. Rivel President  1065 Avenue of the Americas & 40th New York, New York 10018  (212) 221-2075  August 3, 1979  Mr. Paul A. Volcker Chairman Board of Governors Federal Reserve System 20th Street & Constitution Ave., N. W. Washington, D. C. 20551 Dear Paul: I wish you every success and much enjoyment and satisfaction in your new position as Chairman. Please call upon me in any way you wish, if you feel I can be helpful. Since  (No acknowledgement necessary)  ‘04  ly,   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Robbie: You know how much I appreciate the note.  All  we can do is try to maintain your standards for integrity around here. Sincerely,  Paul A. Volcker  Mr. James Louis Robertson   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  JAMES LOUIS ROBERTSON  Z  _te  411 Th  •..   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Mr. Robinson: Many thanks for your note and best wishes. well remember a trip to Jackson long ago. Sincerely,  Paul A. Volcker  Mr. E. B. Robinson, Jr. President Deposit Guaranty National Bank One Deposit Guaranty Plaza Jackson, Mississippi 39205  I   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  One Deposit Guaranty Plaza Jackson, Mississippi 39205 Phone 601 354-8283 Telecopier 601 354-8408 E. B. Robinson, Jr. presdem  DEPOSIT GUARANTY NATIONAL BANK  July 30, 1979  Dear Mr.Voelcker: The entire staff of Deposit Guaranty National Bank joins me in congratulating you on being named by President Carter to be Chairman of the Federal Reserve Board. Your broad experiences in both finance and economics fields will certainly make a valuable contribution to strengthen the American Economy. Sincerely,  Mr. Paul Voelcker Chairman Federal Reserve Systemn 20th Street & Constitution Avenue, N.W. Washington, DC 20429  Grow With Us   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 3, 1979  Dear Jim: I really appreciate the note.  The press seems to  have me walking on water, but you know the reality of trying to keep my nose above water will come soon enough. need the support: Sincerely,  Paul A. Volcker  Mr. James D. Robinson, III Chairman American Express Company American Express Plaza New York, New York 10004   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  PJVIERICAN EXPRESS AMERICAN EXPRESS COMPANY, AMERICAN EXPRESS PLAZA. NEW YORK. N.Y. 10004  JAMES D ROBINSON, III CHAIRMAN  July 27, 1979  Dear Paul: I couldn't be more pleased with your decision to take up the reins of the parent company! Congratulations to you and to the President for his fine judgment. Obviously, the financial and business community here and abroad is delighted. You have our respect, admiration, and support. Best regards. Sincerely,  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, New York 10045   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 16, 1979  Dear Dave: Many thanks for the note, and the offer of help.  Just don't let me get insulated down  here. Sincerely,  Paul A. Volcker  Mr. D. M. Roderick Chairman, Board of Directors United States Steel Corporation 600 Grant Street Pittsburgh, Pennsylvania 15230  PAV:tb  •  D. M.RODERICK CHAIRMAN,BOARD OF DIRECTORS   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  PITTSBURGH OFFICE 600 GRANT STREET PITTSBURGH, PENNSYLVANIA 15230 412/433-1101  August 8, 1979  t'1  Hon. Paul A. Volcker Chairman Federal Reserve System 20th St. & Constitution Ave. , N g W. Washington, D. C. 20551 Dear Paul: Congratulations and best wishes on your recent appointment. I certainly appreciated the invitation of The White House to participate in your swearing-in ceremony and reception, but unfortunately other business commitments precluded that pleasure. Best of luck in your new undertaking, and if I can be of assistance froim time-to-time, please dO not hesitate to call me. Kindest regards. Sincer  q54 cc: Ms. Anne Wexler   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  4.  August 6, 1979  Dear Mary: Do stop in.  I appreciate the note, but more your  advice. Regards, Sincerely,  Paul A. Volcker  Ms. Mary G. Roebling Chairman of the Board The National State flank Trenton, New Jersey 08605  1VATIONAL STATE BANK TRENTON, NEW JERSEY 08605  MARY G  ROEBLING  CHAIRMAN OF THE BOARD  July 27, 1979  AREA CODE 609/396-4030   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  Mr. Paul A. Volcker, President Federal Reserve Bank of New York 33 Liberty New York, N. Y. 10005 Dear Paul: Your appointment by The President to the Chairmanship of the Federal Reserve Board is the finest he has made, and I join the many thousands who are grateful for the superior judgement he has shown. We may now look ahead with high hope for the economy of our Nation, secure in the thought that your expertise will lead the way. I shall applaud your "swearing in" and hope that one day,when I am in Washington, I may stop by to extend my good wishes. Sincerely,  R/f  a7c,t Mary G. R bling Chairman of the Board  RECL:IVED JUL 3 1 1979 P. A. V. ANSWERED ATTENDED TO  .......   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 6, 1979  Dear Don: I appreciate the note and seeing you Friday. sure we will be seeing something of each other. Sincerely,  Paul A. Volcker  Mr. Donald L. Rogers President Association of Bank Holding Companies 730 Fifteenth Street, N.W. Washington, D. C. 20005  I'm  ASSOCIATION of BANK HOLDING COMPANIES DONALD L. ROGERS PRESIDENT   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  730  FIFTEENTH  STREET,  NW.,  WASHINGTON,  D.C.  (202) 393-1158  July 26, 1979  Mr. Paul A. Volcker, President Federal Reserve Bank of New York New York, New York 10045 Dear Paul: Congratulations on your nomination to be Chairman of the Federal Reserve Board. I am sure that accepting this position required a personal sacrifice on your part, but you are uniquely qualified to provide the leadership needed at this crucial time. I shall look forward to working with you in your new capacity, and I hope you will not hesitate to call upon me if I can be of assistance to you. Sincerely yours,  Donald L. Rogers DLR:slg  VE  A  i  20005   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 20, 1979  Dear Mr. Rogers: I appreciate your note. I appreciate even more the contributions that you and so many others make to the Federal Reserve System. rae lasting strength of the Fed lies less with us in Washington than in the participation and interest of the Banks and their directors. I can only hope to contribute to those traditions. I will expect to see you here or there. Sincerely,  Paul A. Volcker  Mr. Lawrence H. Roers, II President Omega Communications, Inc. 4600 Drake Road Cincinnati, Ohio 45243  Omega Communications, Inc. Lawrence H. Rogers, II   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  PRESIDENT  August 15, 1979  Honorable Paul Volcker Chairman Board of Governors FEDERAL RESERVE SYSTEM Washington, D. C. 20551 Dear Mr. Volcker: As Chairman of the Board of the Cincinnati Branch of the Federal Reserve Bank of Cleveland it is my pleasure to congratulate you upon your assumption of the chairmanship of the Board of Governors. My colleagues and I are gratified at your appointment and quick confirmation and we pledge you our enthusiastic and ongoing support most difficult assignment. in Sin  rely y u  ierrence H.  gers,  LHR:beh  4600 Drake Road  Cincinnati, Ohio 45243  (513) 561-4420  CHAIRMAN OF THE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM WASHINGTON, D. C. 20551  blIONOMMEMPIMMK , 4• i-4skY1%;4?-4ki.  August 8, 1979  L~ibmsiiiiimmamONIK I.• Dear Bill:  --t•-••rt.:41“. f  f`' •  I appreciate the note.  *.f.X  I wonder  myself--and not just about August or the wage level.  But it's nice to have the welcome. Sincerely,  • ••  • •„, "  ,•  •  c.4  cad Paul A. Volcker  •  Mr. William D. Rogers Arnold & Porter 1229 Nineteenth Street, N.W. Washington, D.C. 20036  tile..  44 .7t r1  ?"."•IL4  y  " V.  •  •  .  ▪ •  PI•  • .0.01? . 4. ie. lb •  1"•  ..  •  t•••• vogibr.•••••••  -  s  •  AN.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  "  ,_ •• — 4. -•  • ••  -A-'.  .  ‘" •eevt;.  • •  •A  ARNOLD  8c  PORTER  1229 NINETEENTH STREET, N. W. WASHINGTON, D. C. 20036 TELEPHONE:(202) 872-6700 CABLE:'ARFOPO" WILLIAM  TELEX: 89-2733  D. ROGERS  DIRECT LINE (202) 872-6915  July 30, 1979  Mr. Paul Volcker Federal Reserve Bank 33 Liberty Street New York, New York 10045 Dear Paul: Congratulations - I suppose. It's bad enough that you should come to Washington in August. But you don't have to try to break the wage-price spiral all by yourself. The natives welcome you back, anyway. Sincerely,  William D. Rogers  so°  ReCet 3'61'3 NIAVIERED WOW   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ...................   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 6, 1979  Dear Felix: I appreciate the note and  need the luck.  in touch. Regards, Sincerely,  Paul A. Volcker  Mr. Felix G. Rohatyn One Rockefeller Plaza New York, New York 10020  Keep   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  FELIX G. ROHATYN ONE ROCKEFELLER PLAZA NEW YORK.N.Y 10020  July 25, 1979  Mr. Paul Volcker Chairman Federal Reserve Bank of New York 33 Liberty Street New York, N.Y. 10005 Dear Paul, Congratulations and best of luck in your new It is the best thing for the Fed, the duties. Country and you. All good wishes and hope to see you soon.  Sincerel  RECEIVED JUL 3 1 1979 P. A4V. ANSWERED ATTENDED  .  ,, ..... „• ' F GOv4 •. ..* •  CHAIRMAN OF THE BOARD OF GOVERNORS  0  •,, ._i  FEDERAL RESERVE SYSTEM WASHINGTON, D. C. 20551  RAL RS. • •..• • •  August 24, 1979  Dear Maria: I appreciate your message on my appointment. ceeding well.  Hope the Round Table is proSo far, so good--but the  work is just beginning. Sincerely,  e   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  /'  /aal Paul A. Volcker  Ms. Maria Rolfe 860 United Nations Plaza New York, N.Y. 10017  ,  I  MARIA RoLFE 860 UNITED NATIO, NEW YORK NY 10017  PLAZA  LILA• mi  „pats Post.?  western uniontliallgraM  It_ 4  us MAIL  m  4.t174164s207 07/26/7q ICS IPmMTZZ CSP NYAB 2126880578 MGM TDmT NEW YORK NY 68 07-26 0713P EST  PAUL vOLCKERgFEDERAL RESERVE BANK oF NEW YORK NE w YORK NY 10045  ONE SMALL STEP FOR AN AMERICAN ONE GIANT STEP FOR AMERICA STOP IN YOUR LETTER OF CONGRATULATIONS FOR THE WnmF.NS FCnNOmIC GROUND TABLE YOU SAID "IT SOUNDS LIKE A VOICE THAT SHOULD BE HEARD, ' wE ARE MORE PLEASED THAT YOUR VOICE WILL HE HEARD CONGRATULATIONS AND ALL mY GOOD WISHES TO YOU AND BARBARA MARIA ROLFE 19:14 EST MGMCOmP MGM  RECEIVED JUL 27 1919 P. A. V.  5241 (R1/78  ANSWERED ATTENDED TO   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  TO REPLY BY MAILGRAM, SEE REVERSE SIDE FOR WESTERN UNION'S TOLL  FREE PHONE NUMBERS  MMI••••••   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  CHAIRMAN OF THE BOARD OF GOVERNORS  *47 .. •0 • -r, • ..A .5. rt, • ...c  l• w• t--• (n. .... ‘.) • -.14<'•. • .• RAL RE.5 •• • • •• • •' •  FEDERAL RESERVE SYSTEM WASHINGTON. D. C. 20551  August 24, 1979  Dear Eric: Somehow I thought I had responded to your warm message earlier--but if I didn't (or even if I did) let me say again one of the nicest things about a change such as mine is hearing from old friends and comrades in arms. As Bill Martin told me the other I. I'll just hope for the best. Best regards, Sincerely,  / 1(1 Paul A. Volcker  Mr. Eric Roll Warburco London, England  - ULM ILI western union  Telegram  LLA202  WAD207(1457)(1-1442790206)PD 07/25/79 1455 ICS IPMIIHA IISS IISS FM ITT 25 1455  PMS WASH DC AWC49 VIA ITT CIC725 TXA529 UIWA CO GCLB 069 LONDON  69/65 25 2019  THE HON. PAUL VOLCKER U.S. FEDERAL RESERVE BANK 20TH AND CONST AVE NW WASHINGTION D.C. 20551/USA DEAR PAUL, DELIGHTED ABOUT THE NEWS AND SEND YOU MY WARMEST CONGRATULATIONS AND ABOVE ALL MY HEARTFELT GOOD WISHES FOR SUCCESS IN THIS TREMENDOUSLY IMPORTANT AND ONEROUS JOB THAT YOU ARE NOW UNDERTAKING. ALL YOUR MANY FRIENDS AND ADMIRERS, NOT LEAST MYSELF, WILL BE ROOTING FOR YOUR SUCCESS. WARMEST REGARDS 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 9, 1979  Dear Ed: Thanks so much for the warm note--it means so much more from someone who has seen all the warts. I guess, in the last analysis, I couldn't resist the challenge, but I hope I am realistic about it. Keep in touch. Our very best to you both--our friendship has meant a lot. Sincerely,  Paul A. Volcker  Mr. Edward M. Roob Senior Vice President The First National Bank of Chicago Chicago, Illinois   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ARM,  BOXFA3 •  1 THE FIRST NATIONAL BANK OF CHICAGO  1979 A G -7 fl.t.1 .9: 53 I  r".  EDWARD M. ROOB SENIOR VICE PRESIDENT  July 30, 1979  Dear Paul There is no-one better qualified to take the job as Chairman of the Federal Reserve System. Personally, I was hoping that you would agree to take the job and can't think of anyone I would rather see in that position from the point of view of our country. I congratulate you sincerely on accepting the position and appreciate very much the sacrifices in income that you will continue to make and those that you have already made on behalf of us citizens. All the best in your new position, with deep affection from our family to yours. Sincerely,  Mr. Paul Volcker Chairman Board of Governors Federal Reserve System 20551 Washington, D. C.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 6, 1979  Dear Art: Many thanks for the warm note.  I sure will need  help--just how and when who knows: Sincerely,  Paul A. Volcker  Mr. Arthur 3. Rothkopf Hogan & Hartson 815 Connecticut Avenue Washington, D. C. 20006  HOGAN  a HARTS ON  FRANK J. HOGAN (1877- 1944) NELSON T. HARTSON (1887-1976)  SEYMOUR S. MINTZ GEORGE E. MONK EDWARD A. MCDERMOTT FRANK F. ROBERSON MERLE THORPE,JR. LEE LOEVINGER PAUL G. ROGERS WILLIAM T. PLUMB, JR. C FRANK REIFSNYDER GEORGE W. WISE ROBERT K. EIFLER EDGAR W. HOLTZ JOHN P. ARNESS FRANCIS L. CASEY, JR. E. BARRETT PRETTYMAN, JR. ARNOLD C. JOHNSON MARSHALL T. MAYS JOHN J. ROSS HOWARD F. ROYCROFT ROBERT H. KAPP SHERWIN J. MARKMAN ROBERT J. ELLIOTT JAY E. RICKS   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  ROBERT M. JEFFERS DENNIS J. LEHR ARTHUR J. ROTHKOPF KEVIN P. CHARLES JEROME N. SONOSKY JAMES A. HOURIHAN GERALD E. GILBERT AUSTIN S. MITTLER VINCENT H. COHEN HOWARD R MOSKOF GEORGE U. CARNEAL GARY L. CHRISTENSEN BOB GLEN ODLE RICHARD S. RODIN STUART PHILIP ROSS RICHARD J. M. POULSON PETER W. TREDICK ANTHONY S. HARRINGTON ALFRED JOHN DOUGHERTY PETER F. ROUSSELOT JAMES J. ROSENHAUER SARA-ANN DETERMAN  815 CONNECTICUT AVENUE WASHINGTON, D. C. 20006  JOSEPH M HASSETT ROBERT E MONTGOMERY, JR. JOE CHARTOFF DAVID J. HENSLER ERIC A. VON SALZEN CARL L. TAYLOR GEORGE W. MILLER ALPHONSO A CHRISTIAN, X MARTIN MICHAELSON M. LANGHORNE KEITH WILLIAM R SCHIEF MARVIN J. DIAMOND GAIL STARLING MARSHALL CURTIS E. VON KANN DAVID B. LYTLE WILLIAM S. REYNER, JR JOSEPH C. BELL WILLIAM A. BRADFORD, JR PHILIP C. LARSON ALLEN R. SNYDER H. TODD MILLER ROBERT J. WALDMAN  TELEPHONE (202) 331-4500 CABLE"HOGANDER WASHINGTON" TELEX 89-2757, 64353  WRITER'S DIRECT DIAL NUMBER  (202) 331-4617  July 26, 1979 J. WILLIAM FULBRIGHT OF COUNSEL  Mr. Paul A. Volcker President Federal Reserve Bank of New York 33 Liberty Street New York, New York 10005 Dear Paul: Along with everybody else in the world, I was delighted to hear of your appointment by the President as Chairman of the Federal Reserve Board. It is of course an appointment for which you are uniquely qualified and one in which we can all expect the highest level of public service. If there is ever anything I can do to be of assistance in your new duties, please do not hesitate to let me know. Once again, congratulations and the best of luck in your new position. Sincerely, A A} Arthur J. Rothkopf,--  LIVED  AJR:sjl  JUL 3 1 1979  v. 'r9  itAucu TO  ILAWI   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 7. 1979  Dear Lew: Many thanks for your call and note.  Keep New York  going—that's where the heart is. Sincerely,  Paul A. Volcker  M. Lewis Rudin  1   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  RECEIVED  LEWIS RUDIN  JUL 3 1 1979 P.A.V. ANSWERED,....., AIWIDED  July 26, 1979 Wa  Mr. Paul A. Volcker Federal Reserve Bank of New York 33 Liberty Street New York, New York Dear Paul: Tried to reach you today to offer you my best wishes on your appointment as Chairman of the Federal Reserve Board. If any of us at The Association for a Better New York can be of help to you in your new duties, please do not hesitate to call. All of us are delighted with your appointment and wish you Godspeed. Sincerely,  LR:SR   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  August 9, 9979  Dear Don: I appreciate the note--I don't think I have many illusions about the problem: Best regards,  The Honorable Donald Runsfeld   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  DONALD RUMSFELD  July 26, 1979  President MY.. Paul A. Volcker, rve Bank New York Federal Rese 33 Liberty Street 10045 New York, NY Dear Paul: have made a better t no d ul co er rt Ca t en Presid ons! choice. Congratulati Regards,  Donald Rumsfeld  dp  kECEIVED JUL 3 1  1979  P• A V. ED WER ANS .... .......................... . ATTENDED TO  ••••• .................  ••tti  FEDERAL RESERVE BANK OF NEW YORK NEW YORK, N.Y. 10045 AREA CODE 212 791-6173  PAUL A. VOLCKER PRESIDENT  August 1, 1979  Dear Bill: You were thoughtful to send along your congratulations. I'd like to see if the "Anglo-Saxons" can't somehow together get "our acts together"--and, as you know, we will be watching events in the U.K. with great interest for lessons to be learned. Don't leave Washington too soon! Sincerely,  Paul A. Volcker  Mr. William Ryrie IMF/IBRD British Embassy Washington, D.C.   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  \14  77Q VI C 7'' .: 7 7? - Ct:""  J3P  S POST4  WI IL/ western uniontallgraM z U.S.MAIL  1-02341513206 07/25/79 TI X PRODRONIE A WSH ALBA 01 WASHINGTON DC JUI Y 25  R  PAUL VOI.,CKER PP7SIDENT F7.DFRAI FSFRVE BA NK OF NEW YORK 12201 N7.*W YORK NY  ECEIVED JUL 2 7 1979  ATTENDED .........  7772RAL Pt:PF_PV7 BA NK OF Nr'W YORK  ' rt.11.1  UNCIASSI FIFD D WASH' NGTON 251735Z JULY 1979 FROM UKDFL I M F /I B TO ROUTIN7 FFDERA1 RFTERVE BA NK OF NEW YORK TELEGRAM UNNUMBERED OF 25 JULY 197.9. TO: MR PAU! VOLCKER  iiii  THIS IS EXCELLENT NEWS FOR AMERICA AND FOR ALL OF US WHO LOOK FoRWARD TO YOUR RETURN TO WASHINGTON. EVERYONE IN LONDON WII L BE DF_LIGHTF.D TOO. CONGRATULATIONS AND GOOD WISH:FS RYRIE IMF/IBRD BRITISH EMBASSY WASHINGTON DC 1601 EST  5241 (R1/78)  MGMCOMP MGM   http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis  TO REPLY BY MAILGFtAM, SEE REVERSE SIDE FOR WESTERN UNION'S TOLL - FREE PHONE NUMBERS
Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102