Full text of Paul A. Volcker Papers : Congratulatory Letters : 1983, A-B, Box 8, Item c125

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Congratulatory Letters A-B   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Collection: Paul A. Volcker Papers Call Number: MC279  Box 8  Preferred Citation: Congratulatory Letters:"A-B", 1983; Paul A. Volcker Papers, Box 8; Public Policy Papers, Department of Rare Books and Special Collections, Princeton University Library Find it online: http://findingaids.princeton.edu/collections/MC279/c125 and https://fraser.stlouisfed.org/archival/5297 The digitizadon 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   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 25, 1983  Mr. David C. Aches Drinker Bidd1& Reath Suite 500 1752 N Street, N. W. Washington, D. C. 20036 Dear David: I apologize for the lapse in my correspondence, but I did want to thank you for your note on my reappointment, even if it is over-blown. We will struggle on. Best regards,  PAV:dmg-b  LAW OFFICES  DRINKER BIDDLE & REATH SUITE SOO  1752 N  STREET, N. W.  PHILADELPHIA NATIONAL BANK BUILDING BROAD AND CHESTNUT STREETS  WASHINGTON, D. C. 20036  PHILADELPHIA, PA. 19107  (202) 429 - 7400  645 MADISON AVENUE NEW YORK, N.Y. 10022 (212, 980-1200  (215) 988 2700   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 29, 1983  PERSONAL  The Honorable Paul A. Volcker Chairman, Board of Governors Federal Reserve System Washington, D.C. 20551  Dear Paul: This note is overdue, but none the less enthusiastic. Your reappointment is a rare thing in Washington -- a vinI•tion of your being right -- right in your unflinching pressure on inflation and monetary self-indulgence. It is a great comfort to have you there at a time when the proximity of the 84 election season will stimulate all kinds of temptations to elected folks on both ends of Pennsylvania Avenue. My congratulations go to the country. All the best,  David C. Acheson   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Duane Acker President Kansas State University Anderson Hall Manhattan, Kansas 66506 Dear Thank you so much for taking the time to write me about my reappointrent.and the Jefferson Award.  I have  no doubt about the work ahead, and we'll try to kpep the sense of where we should be going. Sincerely,  PAV:ccm  •  •  Office of the President  KANBAs  Anderson Hall Manhattan, Kansas 66506 913-532-6221  STATE Thfl7ERSI   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  .June 21, 1983  BtI\R  F GOVERMRS l  MEM RESERVE  23 JIM 23 PIAMit983 it 5 CAM E: REVFiC ME  Dr. Paul A. Volcker, Chairman Board of Governors of the Federal Reserve System Washington, DC 20551 Dear Paul: Congratulations on two items --- your reappointment as Chairman and also on your designation to receive one of the 1983 Jefferson Awards. The business community strongly supported your reappointment. did many others in many walks of life.  So  As President of the University, for which the march of high inflation has been the major source of financial stress, I admire and appreciate the good job that you and the Federal Reserve System have done and are doing. Keep up the good work, and the firm convictions on which that work is based. Sincer  Duane Acker President (and Director of the Federal Reserve Bank of Kansas City) is   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 25, 1983  Mr. Richard V. Adams  Dear Dick: I have been lax in my correspondence these days, but I did want to thank you for your letter on my reappointment and to get updated. I will keep you in mind should I hear of anything down your alley -- but I must confess in my position I don't get many inquiries. Meanwhile, if you can deal with the financial futures, you are just proving you are a genius. All the best,  PAV:dmg-b  • RICHARD V. ADAMS 4  BOAR° OF GOVERNORS OF ME FEDERAL RESERVE SYSTEM  1983 JUL -5 At4 9: 02 RECEIVEO OFFICE OF THE: CHAIRif.11'' June 29, 1983 The Honorable Paul A. Volcker Chairman Board of Governors of the Federal Reserve System Washington, DC 20551 Dear Paul, My heartiest congratulations on your recent reappointment as Chairman of the Federal Reserve Board. Your presence in Washington in this crucial role in monetary policy is strongly reassuring to the business and financial community. For my part, you know I have the highest admiration for your skill and dedication in the work of achieving stable economic growth in our country. I wish you continued success in your next four years as Chairman. Just to keep you up to date, I am alive and well and living in Morristown, New Jersey. I am trading for my own account in the financial futures markets while trying to relocate on Wall Street following my return from the Middle East last year. If you learn of any jobs for which you think I would be well qualified, I would appreciate your letting me know. Again, my sincere congratulations to you and my best personal regards to you and Barbara.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Sirlgerely,  'chard V. Adams   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 12, 1983  Dr. Daniel S. Ahearn Senior Vice President Wellington Management Co. 28 State Street Beston, Massachusetts 02109 Dear Dan: You might get a different answer from Barbara, but I appreciate the note. (She only resents, at times, the occasion for it.) One of the things that keeps us going is those who have some realistic feel for the situation, and instinctive understanding! Best regards,  PAV:cern  1,  Daniel S. Ahearn Senior Vice President  WELLINGTON MANAGEM ENT COMPANY  June 22, 1983  Mr. Paul A. Volcker 151 East 79th Street New York, New York Dear Paul and Barbara: I address you both because I know that in matters such as that just concluded both wife and husband are heavily involved. This note is just to say how pleased and happy I am that rationality won out in the Presidential decision process. In a world in which so much goes wrong, it is especially pleasurable to see something go just right, particularly something as important as the leadership of the Federal Reserve System. It is also gratifying tS see excellence and outstanding achievement recognized and rewarded. I was and am an admirer of Bill Martin but I think you have written yourself into the financial history books in a way that stands alone. All good wishes for the future. not getting any easier.  I know the job is  Sincerely,  28 State Street  https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Boston, Massachusetts 02109  Telephone (617) 227-9500   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 25, 1983  Mrs. Caroline Leonetti Ahmanson Chairman, Board of Direc ors Federal Reserve Bank of San Francisco San Francisco, California 94120 Dear Caroline: I am late in answering my mail these days, but I do appreciate your warm letter on my reappointment. Meanwhile, we are trying to work something out with the Los Angeles World Affairs Council -- it won't be this fall, but possibly in the winter or spring. I should add that as I approach a few more years here, I an very happy that you are keeping an eye on the Western flank. Best regards,  PAV:dmg-b  41011110,  FEDERAL RESERVE BANK OF SAN FRANCISCO SAN  FRANCISCO, CALIFORNIA 94120  --ri rvi •-•TI  co  rri  CAROLINE LEONETTI AHMANSON CHAIRMAN, BOARD OF DIRECTORS  ) C rn  7=1 co  July 22, 1983  =1* rrl  (fl  C-D rrl ::t: C:7)  Sze.  C.') ---1  ri  o.:Mm C  (4)  CO.)  C7)  Chairman Paul Volcker, Board of Governors, Federal Reserve System, Washington, D.C. 20551 Dear Paul, How lucky can our Nation be? appointment and the for California's sehim nor could I ever about the importance  We are all grateful for your acceptance and for your brillant leadership and we are relieved to know you will be there to continue your Herculean task. I know that the Los Angeles World Affairs Council will be writing to you to renew their request for your appearance and I, of course, hope that your schedule will be such that you can visit Los Angeles this Fall. In the meantime - - my very kindest regards and very best wishes for your continued success. CordialYy,  140) . Howdrd Ahmanson CLA:am   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ••••••  •"'" rri  I congratulate the President on your Senate for its consent. And, I apologize nior Senator - although I never voted for get any satisfaction when I talked to him of the independence of the Fed!  cr  auly 5, 1983  Mr. Willis W. Alexander American Bankers Association 1120 Connecticut Avenue, N.W. Washington, D.C. 20036 Dear Willis: Thank you for your expression of confidence and encouragement on the occasion of my reappointment. I look forward to continuing to work with you and your members in the years ahead in the interests of a sound financial base for improving economic performance. Sincerely,  NS:jes cc: Ms. Wolfe (2)  1   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  •  AMERICAN 0 \20 Connecticut Avenue, N.W. ashington,D.C. BANKERS 20036 ASSOCIATION  EXECUTIVE VICE ['RESIDENT Willis W Alexander 202 467-4211  June 28, 1983  The Honorable Paul A. Volcker Chairman Board of Governors of the Federal Reserve System Washington, D.C. 20551 Dear Paul: Being out on the hustings as I have these last two weeks, provides overwhelming evidence of the popularity of your reappointment as Chairman of the Federal Reserve Board. It is a reaction based on confidence that you will continue to handle your crucial role in the difficult days that yet lie ahead, even as you have done during the past four years. On a personal basis, Paul, I'm deeply grateful that the President has asked and you have agreed to remain as Chairman. As we all seek a sustainable non-inflationary recovery for the American economy, please remember that you may count on me for any support I can render. Sincerely  W' us W. Alexander   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  The Honorable Abdul Malik Al-Hamar Governor Central Bank of the United Arab Emirates P.O. Box 854 Abu Dhabi, United Arab Emirates Dear Governor: Thank you so much for your message on my reappointment.  We'll do our best. Sincerely,  PAN7:com  h/=41,  ,ht1.1  U IA IF '  • BOARD OF GOVERNORS FEfIER!!; fF_SFRVE S1STE14  1933 JUN 27 AM 9:10 r.FrItic  nECEIVE0 7.-E CHAIRPVIti  3 3 97548  r-r—mm I L. :  UT  02115 Cifri/25 TM 'r ViH  ;Xi  IA  4)  rt, r,1  11-041 RFF:U/2212  FROM:  FEDFRAL RFRERUE BOARD - WASHINGTON CENTRAL RANK OF THE HE, ABU DHRBI  29TH JUNE 1981 ATTFNTION: HONOURAP1E PAUL VOICKER  CHAIRMAN  :: ON YOUR REAPPOINTMENT THAT CERTAINLY WHIT! MAINTAIN NINTINm TY OF ANTI INFLATION AND ALSO STABILITY OF A RRIANCEn moNFTripy Pn!ICY I WIRH TO FXTFNR MY WARM FE-IF'TRTTANS END PFPUNRI RFGARDS.  AEU MAUI< RI-HRMRP GOVERNOR ++422:11n mipv7I FM4f FFN HT ul   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  3 3   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 5, 1983  Mr. Joe Alibrandi Whittaker Corporation 10830 Wilshire Boulevard Los Angeles, California 90024 Dear Joe, I'll never #o to Bryant again if this is what happens. But thanks for the good wishes. Sincerely,  • • 4110  •  Telegram  western union  w Fon3(1739)(1-0185 18 C171) PD 06/20/83  1983 JU 20  ICS IPMWGW F WSH •  •  1739  ` 7: 27 .." ..▪.n  •  ICS IPMW F138  c-  1- 02 1652 M17 1 06/20/83  (=)...... rn --i C"-D ..•,.. rin  C.a., ▪  c-,rn =t:, A"  01 LOS ANGELES, CA, 20 JUNE 1983  =  = -;.....  PMS PA U_. A. VOLCKER, CHAIRMAN •  N.)  CONST AVE BTWN 20TH & 21ST  ST  (=,  rrl -e1 --T-1 Cr,  .•••••  i.•  4111  CD  rn --4  1-.,  =  rel 70 ••••pr  •  c..-, MM..  ....••• •• •  •-.4 Coe) ---1 rn  _.• 4  BOARD OF GOV93 NCR S OF THE FM ER AL R ESER VE SYST EM  rn  c =  TL X WHITT AKER LSA •  11111  05881 06-20 0625P EDT  C:=0 CO  ill  NW  •  WASHINGTON, D.C. 20551  •  •  CONGR AT(LAT IONS AND GODSPEED. I KNEW THAT A DOCTOR S DEGREE FROM  •  •  ER Y# NT WOULD MAKE THE DECIDING DIFFERENCE. I AM REALLY ECSTATIC  •  FOR YOU, FOR ME AND •W U  mosrLy FOR  OUR COUNTRY. WISH YOU THE VERY •  1201-SF (R5-69)  • •  • MEM MI western union  Telegram  • •  BEST.  •  REGARDS,  •  JOE AL IBR AND I •  WHITTAKER CORP TELEX 67489 1  •  •  WHITT A KM L SA  •  •  1655 EST  •  NNNN  •  •  •  •  •W.U. 1201-SF (R5-69)  •   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 24, 1983  Mr. John M. Vice President Director of Corporate and Public Affairs Reader's Digest Pleasantville, N.Y. 10570 Dear Mr. Allen: Many thanks for your kind words and for the Beethoven album. Sometimes I think my job is listening to a different kind of "music" -- and it will be nice to have a master's works instead. Sincerely,  PAV:ccm  •  • Re,ader's Digest  Pleasantville, New York 10570 914 ROgers 9-7000  JOHN M.ALLEN Vice President Director ofCorporate andPublic Affairs USA  August 10, 1983  Dear Mr. Volcker: It was absolutely splendid of you to share your wisdom with us here at the Reader's Digest. It helps so much for the editors of our magazine to understand firsthand what it is you are trying to do. It helps the executives to understand and appreciate the challenges you face. And it helps all of us as employees and citizens to understand the dedication and devotion to duty that you evince. Everyone who came in contact with you was impressed, and I want you to know you were a highlight of our whole Distinguished Speaker series. I don't know what kind of music you enjoy, but the attached Beethoven recordings are excellent, in every way. It may even interest you to know that we at the Digest have sold more Beethoven records than all the other recording companies in the world -- since recordings started! Once again, our deepest gratitude and I hope you will come back and visit us again soon. Gratefully,  (!:) --ri  -n  CM C:C)  co ZIP  rri  =  = ...›.  r=  Mr. Paul A. Volcker Chairman Board of Governors Federal Reserve System Washington, DC 20551   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ...." r-rl  =3  C21.7 C::) Xi.  ,-. .-  c:73 C::3  rs-1 c-3 rCZ ,  3C  ,.. .......0.  rnri  rrl :740  coP  .-44  C:)  f*,,, ,  -e-et  cf:, —.4  ...74P. .....  ::,  Cd)   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 17, 1983  Dean Graham Allison John F. Kennedy School of Government Harvard University 79 Boylston Street Cambridge, Massachusetts 02138 Dear Graham: Sometimes I think my own sanity must be questioned -- there are too many other things to do. But thanks for writing, and someday we'll get to the public Affairs Forum. Sinceeely,  PAV:ccm  •  HARVARD UNIVERSITY JOHN F. KENNEDY SCHOOL OF GOVERNMENT CAMBRIDGE, MASSACHUSETTS 02138  OFFICE OF THE DEAN  79 BOYLSTON STREET June 27, 1983  The Honorable Paul A. Volcker, Jr. Chairman Board of Governors of the Federal Reserve System Washington, D.C. 20551 Dear Paul: This brief note is just to let you know that not only Congress, the stock market, middle and right and left America, BUT ALSO YOUR ALMA MATER rejoice in your reappointment. It would be presumptuous of me to suppose that the second time around would be so much easier that you would have ample time to talk in our Public Affairs Forum, but I shall nevertheless pursue you with that in mind. In the meantime, my admiration for your past and future performance. With best wishes always,  Graham Allison  GTA/wd   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  NVVILIVI-13 1-11J 331JJO 03A13338 ZC :6 iiV S— W Ee61 113JSAS 3A11333d 1\111303d "Ill JO NONKA09 JO MN   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 12, 1983  Mr. Roger Allo Director Societe Generale de Banque of Brussels Montagne du Parc 3 B-1000 Brussels Belgium Dear Roger: Thank you for your communication on the occasion of my reappointment. I share your hopes for success in the years ahead and appreciate your warm wishes. Sincerely,  PAV:ccm  we :1  e  fircSAGE  14REC52  ***  D RES BD WSH  &  A JUN 23 0827 48330C RCAW UR CZC YWB8303 G6J3266 BE29221SK2/1636 1 WN CO BEBR 083 • UXELLES TLX 83/82 23 1025 - DERAL RESERVE SYSTEM SHINGTON 'OM SOCIETE GENERALE DE BANQUE IN BRUSSELS 0 FEDERAL RESERVE SYSTEM WASHINGTON ATTENTION OF MR PAUL VOLCKER CHAIRMAN OF THE BOARD OF OVERNORS. EAR PAUL. ° MY HEART FELT CONGRATULATIONS AND VERY BEST WISHES FOR A SUCCESSFUL SECOND TERM OF OFFICE ALL HOPE THAT YOU SUCEED IN GRADUALLY BRINGING DOWN REAL TEREST RATES JUST AS YOU MANAGED TO CONTROL INFLATION DURING UR FIRST TERM ITH BEST PERSONAL REGARDS ROGER ALLO DIRECTOR SOCIETE GENERALE DE BANQUE IN BRUSSELS IINNN  I 1g 4  411!ED RES BD WSH RPLLLESSAGE DONE   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  :4  :  V/IlijI : 4"  13 PP.  3   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. James W. Alsdorf Chairman of the Board Alsdorf International, Ltd. 4300 West Peterson Avenue Chicago, Illinois 60646 Dear Jim: I appreciate the note. Sometimes I wonder about "why," but good friends and associates help a great deal! Best regards,  PAV:ccm  Alsclorf International  Ltd.  Established 1911 4300 West Peterson Avenue Chica8 Illinois 6064.6,USA June 29, 1983  Mr. Paul Volcker, Chairman Board of Governors of the Federal Reserve System Washington, D. C. 20551 Dear Paul: I have just returned from England where the news of your re-appointment was greeted with tremendous enthusiasm only equalled by my own pleased response. You have certainly been a courageous and independent chairman - one who has skillfully guided our country through difficult times and yet successfully restrained inflation. It has been a genuine pleasure being associated with you on the Fine Arts Committee of the Federal Reserve System. I look forward to our continuing association and your continued success. The economy of the United States has certainly been considerably improved with you at the helm. Marilynn joins me in sending our warm personal regards to you and Barbara.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  C rdially,  James Als orf Ch rman of the Board  213 331.440 Ai11103 [13/033:11 ES :8 ttl'i I ifir E861 VOISKS 3M3S-.41111113(131 3141.40 S110M131030 0111t2   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Roger C. Altman Managing Direttor Lehman Brothers Kuhn Loeb, Inc. 55 Water Street New York, New York 10041 Dear Roger: Thanks so much for taking the time to write about my reappointment. Let me continue to know your thoughts. Sincerely,  PAV:ccm  Atae/ifd 5t5" Irede/r4ted ir,etep  ROGER C. ALTMAN  tA(*/00#/  MANAGING DIRECTOR   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 20, 1983  The Honorable Paul A. Volcker Chairman Board of Governors The Federal Reserve System Washington, D.C. 20551 Dear Paul/ Warmest congratulations on your reappointment. It is a most reassuring and encouraging outcome. Best regards,  Sincerely/  aqi amem hr.7XS 3/1 311,1 S  ais314 7N47031  VONY3A00 JO OYVOU   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Paul J. Amen Director Department of Banking & Finance Box 95006 Lincoln, Nebraska 68509-5006 Dear Paul: Thanks so much for taking the time to write me about my reappointment. Your encouragement and support are deeply appreciated. Sincerely,  CCM:dmg-b cc:  Miss Wolfe (2)  STATE ROBERT  OF  NEBRASKA  KERREY • GOVERNOR • PAUL  J. AMEN • DIRECTOR  June 22, 1983  Paul A. Volcker, Chairman Federal Reserve System Board of Governors 20th & Constitution Ave., N.W. Washington, DC 20551 Dear Paul: I join your countless supporters in saying thank you for accepting the appointment as chairman of the Federal Reserve Board. This is good news for international financial circles as well as for our own economic well being. The President is to be congratulated on his decision and you certainly should feel highly complimented that another administration recognizes the importance and value of keeping Paul Volcker as a part of the team. Enclosed are editorial comments that appeared in the Lincoln and Omaha papers. The story itself was headline stuff here in Nebraska and I felt both of these articles stated the situation quite well. Incidentally, you may have seen the recent poll which indicated that the public's greatest concern was a renewal of inflation rather than unemployment. Thanks to you we've won that battle and I'm confident you'll keep it under control in the years ahead. You are ly you make triun t service.  ubli  rt  P  l  d th  f  h  k  th  es  Kind regards. Since ely.  Paul J. Amen Director  DEPARTMENT OF BANIUNG & FINANCE, BOX 95006, LINCOLN, NEBRASKA 68509-5006, PHcoNE (402) 471-2171  https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  AN EQUAL OPPORTUNITY/AFFIRMATIVE ACTION EMPLOYER M/F/H   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 12, 1983  Mr. Roger F. Anderson Chairman of the Board of Directors Continental Bank Chicago, Illinois 60693 Dear Roger: Thanks for taking the time to write about my reappointment. I think you know what my relationships with members of the banking community -- and you personally -have meant to me. Sincerely,  PAV:ccm  CONTINENTAL BANK CONTINENTAL ILLINOIS NATIONAL BANK AND TRUST COMPANY OF CHICAGO • CHICAGO, ILLINOIS 60693   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 20, 1983 r:Tsxc11 E. ANDERSON CHAIRMAN OF THE BOARD OF DIRECTORS  Dear Paul: The weekend report that you had accepted the President's invitation to serve another term as Chairman of the Federal Reserve Board was indeed very good news. It is recognition of the remarkable work that you have done in guiding our economy through a very difficult and challenging period. As you know, however, the job is not finished, and I am personally pleased that you remain at the helm. I would like to take this opportunity to tell you that we as an institution are very appreciative of the help you have provided as we have sorted through our problems. Speaking for myself, I have greatly enjoyed the additional contacts over the past year as president of the Reserve City Bankers and as a member of the Federal Advisory Council. I am looking forward to continuing to work with you in the months ahead. Best personal regards. SincQFely,  Mr. Paul A. Volcker Chairman, Board of Governors of the Federal Reserve System Federal Reserve Building Constitution Avenue Washington, D.C. 20551  CO   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 18, 1983  Mr. Hannes Androsch Chairman of the Managing Board Creditanstalt Bankverein A-1010 Vienna, Schottengasse 6 Austria Dear Hannes: Many thanks for your warm note, and I fully understand that, in some ways, the problems just seem to multiply. I'd rather be in Alpbach, but it's jast impossible in the circumstances. Best regards,  PAV:ccm  • HANNES ANDROSCH . 1  VIENNA,  CHAIRMAN OF THE MANAGING BOARD  A-1010  1.7.1983  SCHOTTENGASSE 6  CREDITANSTALT-BANKVEREIN   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  It has been a great pleasure for me to learn that you have been reappointed for another four years to the highly demanding office of Chairman of the Federal Reserve Board. Your reappointment will certainly mean a great relief to all those who feel responsible for the monetary policy on either side of the Atlantic. I need hardly mention that for me, too, it means the reassurance that the policy initiated by you and conducted with such great success will be continued. You are entering upon your second term in a time which is anything but easy and one has the feeling that the problems still seem to multiply. Let me therefore wish you every success and all the best for the future. I sincerely regret that you are unable to come to Alpbach but I hope that I can still congratulate you personally at the World Bank and International Monetary Fund meetings.  ANDROSCH HANNES  BOARD MANAGING THE CHAIRMAN OF TALT-BANKVEREIN VIENN*HoSCHOTTENGASSE 6 EDITAN$ CR A-1010  Mr. Paul A. Volcker Chairman Board of Governors of th Federal Reserve System Washington, D.C. 20551 USA  111 JO 331110 01A1333.11 00 :6 ViV L-  EOM  3A113Sil 1\111303A NI AO SliON111A09 JO OTIO0   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 12, 1983  Mr. Reaino Anggeli  Argentina Dear Mr. Anageli: Many thanks for the note, all the more from someone in Argentina.  It does help to know that there are many  whom I do not know but who appreciate what we are trying to do. We will do our best. Sincerely,  PAV:ccm  LI  Translation Ceres, July 30, 1983  Mr. Paul Volcker:   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  I I.  want to allow such a special day as today to go by without  writing to you to congratulate you for your confirmation to continue in your present position  serving your country's Federal Reserve.  At this time when  the world is struggling with dangerous financial situations and the economic crisis is a constant threat in the Latin American countries to be the head of that organization represents assuming responsibilities comparable to those of the "astronauts" who have been in the news lately.  You too are a great pilot  finding your way through the big storms in these critical times in which we live.  Maybe your mission is not as spectacular as that of the "astronauts"  but for sure it entails as much responsibility. As the saying goes "man does not live by bread alone" because of that I want you to know with my words which are simple and honest that there are people who know how to appreciate the good quaes in men like you and I wish you success in all your endeavors from which we all benefit. "Keep up the good work, my friend" and at the moments of tension I want you to remember that you are not alone as there are people like me who wish you success in all your negotiations. I will sign off wishing that this letter finds you in the best of health. Cordially,  Regino Anggeli A.54  4, 111  Argentina  9114)1_  MI-4656496 - 1926 -  Ii  bOARD OF GOVERI1ORS OF THE FEDERAL RESERVE SISTEil  Ae2/z  1333 JUL 30 ki 12: 3Lt 4//c e<-  RECEIVED OFFICE OF WE CHAIRMAN ,`  S; /$ r/-/S.  )#  •  "e•  /2/%7  (C)::///  /'-) / , '2 CI t;) 2  0  -6(  4  "e  ")es ri  /'?,.  2' 9 / e e  V4  1/2/0 ?e'S e •  4  t7/  s ). z  e  t 71)  ,4-tp  -  /-9(' ti "ri,0 S XS / v ct 1/4  -eg  (e /  S  (VG%  ti  it/ji  ii  5- i/ CI Z  1 fld)tr  ,2  7---4.%) ,z-2,,c e s  7/4 ii it/ I0i. 2  /  c o5d  i/)e, ' C., 7  i ' 7 1)47 el) ' 4 11 ' /:e ‘? 724 . /1 _, .r s/ .5.e I.`(7i 1:/c S ' 41•-1  /. .i /11/) i ev (  r  e '--;ves  /2 / 1 t ••/ e  (• e  03  e3  ) S-r ;7<; ,.. ,Z. t; i -1  r  2 , 7 41 t/t. : -  1:). /; ' 1 :  4il  e Pi • e  f-- ,/  A/  i-e/e  e /  ro  (-11 7 /Lie  )It  ii 2/5./ •.7 Ii  /6..5 t 1)/) 4i ,  AS  2 •.;  ('r0  fe(-4,  t,, --if/fikits  h r le  di, fe r te ,/ , ..2  pie  (Ii fie  /  es A (I  o  el  45  if?  7)  e 712,  /7 6  s"i SC (/.) / 1,71,,,,,-- 2 ,., (.,  ::X//0 111 7  A ei oi e  I**  (A  /1;v'  e  .C." 2 1 A'1" • V  P1 11 e'  ))4) .re19...  (1.47  ,../  S  es/e  /i * v7  nvit   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  7 1 ;  z7 f t..,/  1,  2. <,, " 4'764  .tv.s .0-.. ,c  e-1  s-ee  c ,:,?r )6, 9i/•12 /ii..) >  •  .,  r7 / ot: )1>ei  25e.i./il  i  ,  i/ 0 -, e ; fu . e .s  Pe" ,,..e )0 ii:71),  ". /" -;',,/ r //I - ; 1/7 J ,i rc,)=A /0-ei.; 5(._.  /  r-C 1 c;  (c.:(  S-4, J  ir  ( .,/,) 4,c 1Ie.  •.• as  46;C  ,#2, 0.  ,  i /0))7 e ei 1  ) Co (4. -1  Pe  4(1/  e)  cI  40-V--)tiC fil/0  (4I or   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  7' /  41 5  e  -4 /./• )-- ( /et 7/  i'es /If 3 r/e e ,'z  e  ,e/c.2  57.;. b/ /14  oot i4dedi/ce  /  c't7  ectiln  / 17eii //11  Aurr )1 Ai  Air 411,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 2, 1983  Mr. Christopher G. Applegate Division of Data Processing Federal Reserve Board Washington, D. C. 20551 Dear Mr. Applegate: Thank you so much for your congratulations it means more from a fellow laborer! Sincerely,  PAV:ccm  BOARD OF GOVERNORS OF THE  FEDERAL RESERVE SYSTEM  1.J;;_1PALSJIrrespondence To From  Paul A. Volcker Christopher G. Applegat (Data Processing)  Date Subject:  June 21, 1983  New Term as Chairman  Please accept my sincere congratulations on your reappointment as Chairman.  I think your reappointment is an extraordinary vote of confi-  dence and competence.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  I July 12, 1983  Mr. A. J. Ashe  Dear A.J.: Thanks for taking the time to write about my reappointment. I apprec iate your confidence and warm wishes. Sincerely,  NMS:dmg-b  A. J. ASHE  p_ez,4.Aie ink .4.4.27fr  01.L.  -ec_  --eCVaAgCiet-AA-,461  e7Xic_ F-2-ft" AJ,1_  Af  •  2  1L41411 :2  ."-C"Ait  %it;,A4itit-L  AzA)-d (As-1/1-Arv-1-40/4 i2  71,/tNi  ,evtx4P-c-/J--   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  cL!  _,?Kk .%t-te-?!' ctita reJ)-00-1,1-c-e  •   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  BOAt8F OF GOVERNORS THE FEDERAL REEERVE SYSTE4  1983 JUN 23  rt; 14  OFFICE CrRECEIVED Ti'E CHAIRMAN   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Jaly 5, 1983  Mr. Wendell J. Ashton, PUblisher Deseret News P. 0. Box 2220 Salt Lake City, Utah 84110 Dear Wendell: Thanks for your good wishes on the occasion of my reappointment. The confidence and encouragement of the "Fed family" is especially gratifying. Sincerely,  S DESERET P 0 BOX 2220, SALT LAKE  BOARD OF GOVERNORS OF TEE NEWS FEDERAL RESERVE SYSTEM CITY, UTAH 84110 IS83 JUN 24 At4 9: 114  PHONE (801) 237-2188  WENDELL J. ASHTON  June 20, 1983  PUBLISHER  RECEIVED OFFICE, CI: THE CliAIR4AI1  The Honorable Paul A. Volcker Chairman Board of Governors Federal Reserve System Washington, D. C. 20551 Dear Paul: There is joy here in the mountain area served by the Salt Lake City Branch of the Federal Reserve Bank of San Francisco with the announcement by President Reagan of your reappointment as chairman of the Federal Reserve Board. As you know, we have been among the many others who have supported your reappointment, and we are delighted that our hopes have been realized. Warm wishes to you as you continue in your courageous, able leadership. Be assured of our support at the Salt Lake City Branch. Sincerely,  /dhs   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. John J. Balles President Federal Reserve Bank of Sanfrrancisco San Francisco, California Dear John: Thanks so much for taking the time to write me about my reappointment. Your encouragement and support are deeply appreciated. Sincerely,  NS:ccm  BOARD OF GOVERNORS OF THE FEDERAL RESERVE BANK OF SAN FRANCISCO FEDERAL RESERVE SYSTP SAN FRANCISCO, CALIFORNIA 94120 1283 Sill 24 P111 12: 21 June 21, 1983  RECEIVED OFFICE OF THE CHAIRMAN  JOHN J. BALLES PRESIDENT  Dear Paul: Hearty congratulations on your reappointment! We were certainly pleased that the President did the right thing, and I know that the Country will be well-served by your continued service as Chairman of the Board of Governors. Also, we were very pleased that you would accept, having some idea of the sacrifice that you are making to do this. The news was especially heartening to a number of our Directors, especially from our two California offices, who have made strong and repeated contacts with the White House in recent months, urging your reappointment. I will look forward to continuing to work under your leadership in the years ahead. With warm personal regards, Sincerely,  The Honorable Paul A. Volcker Chairman Board of Governors of the Federal Reserve System Washington, D.C. 20551   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 12, 1983  Mr. Albert C. Bard President American Management Consultant Company 1323 Fidelity Building Baltimore, MD 21201 Dear Mr. Bard: I appreciate your note, even if it gives me more than deserved credit for adroitness. Sincerely,  PAV:dmg-b  •  American Management Consultant Company 1323 Fidelity Building•Baltimore,Maryland 21201• 539-4964  Removed To:  ALBERT C. BARD,Principal   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  SUITE 1212 FIDELITY BUILDING Baltimore. Maryland 21201 Phone (301) 685-8585  August 3, 1983  Hon. Paul A. Volcker, Chairman Federal Reserve System 20th St. & Constitution Avenue NW Washington, D. C. 20551 Dear Mr. Volcker: It was gratifying to see that your appointment has been confirmed. My compliments for the manner in which you have discharged the duties of your office. Observing the financial scene is a large part of my job. I am enclosing a copy of my last "Friday Comment" release. It shows my reaction after I read Kenneth Bacon's article in the Wall Street Journal on 7/9/83. I have a true appreciation for the difficulty of your task, and I wish you well in the coming months. Very truly yours, American Management Consultant Company A Maryland Corporation Ce 6 .607'"u yy CQW.44,  Albert C. Bard, President ACB:hpb Enc.  -N• -1  c▪▪•  -r, re-t  =  :c:t.  c=,  „-----3 --I C—.▪ )  I •IP" .  :.-4:7  : -..7:7 1 ' ••I —,1 —"I Cr, rri .m.1 C'D  40‹  C', rri  r=  rrt -‹  Ai ::::::2 ..,..--• —....  t..9  ..._._  f••••  —.1: C.,) —1  rn -,,-. .......  f:= Ce'  • American Management Constillatil Company 1323 Fidelity Eitiilding • liallimore, Maly  A 1 !H.R.!.  21201 • 530-4904  Re44444 ved To! SU1 lb 1211 must Y BUILDINO Baltimore. Maryland 21201  t' iiAki). 1,1 liwpiti  Phone (301) 685-8585  July 29, 1983 FRIDAY COMMENT Watch for a clue in the solution of our riddle of whether bull and bear markets cause healthy or unhealthy economies or vice versa. Paul Volcker's forthrightness is making the artful politicians look more ridiculous than usual. Congress's 1984 budget resolution emphasized the need for "vigorous economic growth consistent with reasonable price stability. '' In the' olympiad of Washington rhetoric, Volcker was thrown a torch that was in flames from end to end. The implied mandate (although he is supposed to be independent) was not only to catch the torch, but to run with it...to victory! The neat intricacy of the words presumes and implies that the mandate is capable of being executed without undue difficulty. To buttress the resolution's imperious indirect directive, the House and Senate Banking Committees were to report on "the coordination of the Federal Reserve's monetary policy with the fiscal policy reflected"... reflected, that is, in the Congressional budget plan. Volcker, wise in the ways of feigned innocence and naivete on the part of Sen. Daniel Moynihan (D., N.Y.) and company (leading sponsors of the provision), chose not to directly address the ambiguous snare laid for him. His restraint was all the more notable because Moynihan said the provision is designed to prevent a repeat of the "profoundly misguided combination of expansive fiscal and restrictive monetary policies" that helped produce the recent recession. Oh, wise Moynihan...Oh, wise Congress! They know all the answers. Mr. Volcker:   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  "On the face of it, more coordination always sounds better than less, But in concrete instances coordination may have an ambiguous meaning. Does it mean, for example, that measures which increase a deficit should be accompanied by more rapid money growth, so that the larger deficit could presumably be readily financed for a time... at the longer-run risk of inflation? Or does it mean that a higher deficit should be accompanied by less rapid money growth to help assure that the deficit doesn't generate  Friday Comment July 29, 1983 Page 2.  inflationary pressures...at the possible expense of greater nearterm market pressures. There is no simple trade-off between fiscal and monetary policy." A less gentle Volcker could have shot Moynihan down in flames. There would be no need for restrictive monetary policies on the part of the Fed if Congress and the Executive Branch would vigorously and sincerely curb expansive fiscal policies. A good beginning would be a 10% salary cut for every federal employee... from top to bottom... elected official to diplomat to judge to janitor. Only then will Congress and the President be entitled to credibility. I had a dream. If you are still unable to identify the elemental and overpowering force affecting the stock market, don't despair. More clues will follow. This is the fun part. Wait until you tangle with the "force." Very truly yours, American Management Consultant Company A Maryland Corporation  Albert C. Bard, President   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Jaly 12, 1983  Mr. J. David Barnes Chairman and Chief Executive Officer Mellon Bank N.A. Mellon Square Pittsburgh, PA 15230 Dear Dave: Thanks so much for taking the time to write about my reappointment. I especially appreciate the encouragement and godd wishes of members of the "Fed family." Sincerely,  NMS:dmg-b  S.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Mellon Bank N.A. Mellon Square Pittsburgh,PA 15230  Mellon Bank  J. David Barnes Chairman and Chief Executive Officer  June 23, 1983  Mr. Paul A. Volcker Chairman Federal Reserve System 21st and Constitution Ave. N.W. Washington, D.C. 20551 Dear Paul: All of your friends here were delighted with your appointment. We wish you every success and pledge whatever help we can. Now, if we can just accomplish fiscal responsibility. With best personal regards.  Sincerely,  JDB/eh  tiViD3t1V1.13 3H1 dt) 331h0 03/1133311 3I7 :01 NV  Z Nnr E861  31SAS 3M3S3:4 11/11/13.4 3/-11 do SUN83A09 JO 04V0g  of GOvt4 :  BOARD OF GOVERNORS  .•  OFTHE  FEDERAL RESERVE SYSTEM WASHINGTON, O. C. 20551  . r rt  •  .) • «, • Res' •  PAUL A. VOLCKER  *• r •.• ••  CHAIRMAN  June 30, 1983  David Barnes Chairman and Chief Executive Officer Mellon Bank N.A. Mellon Square Pittsburgh, Pennsylvania  15230  Dear Dave: Thanks so much for taking the time to write about  1.4,,s4zate2,  44,PULe."  my reappointment.  I aepprni-atC7 7 . encouragement and good lira g  wishes   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Sincerely,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Raymond W. Bauer Chairman of the Board United Counties Trust Co. Hillside Avenue & Route 22 Springfield, New Jersey 07081 Dear Ray: Sometimes I just hhink I'm nuts„, but we'll ao at it a while longer. Many thanks for your words and encouragement, and the best to Mary. Best regards,  PAV:ccm  0  UNITED COUNTIES TRUST COMPANY Hillside Avenue and Route 22, Springfield, New Jersey 07081  Raymond W. Bauer Chairman of the Board (201) 931-6715  June 22, 1983.  Dear Paul: Once in awhile there are national events --albeit too infrequent --- that call for great celebration and rejoicing. One such happening occurred last Saturday a.m. when President Reagan asked you to accept reappointment as Chairman of the Federal Reserve Board, and you agreed to do so. Heartfelt congratulations, Paul, are in order not only because of the action of the President, but also because your performance as Chairman came close to mandating the decision. Any other choice, in my opinion, would have been unfortunate and unsettling. Your gracious words in response to the President's invitation are even more appropriate to express this country's appreciation to you. It is indeed "a grateful and honored" nation that can look forward to your continued service as the director of our central banking system. Thank you, Paul, for your willingness to make yet another major sacrifice to personal comfort, convenience, and financial well-being. Our sincere thanks go also to Barbara and the family whose sacrifices are equally substantial.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Continued .  • -Page 2 -  I wish I thought your task for the second term would be easier than the present one, but I feel the cards are stacked otherwise. Mary joins me in this expression of congratulations and best wishes. Very s'  The Honorable Paul A. Volcker Chairman Federal Reserve System 20th & C Streets Room 2045 Washington, D. C. 20551  RWBsmv   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  e y,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Warren L. Batts President and Chief Operating Officer Dart & Kraft, Inc. 2211 Sanders Road Northbrook, Illinois  60062  Dear Warren: Thanks so much for taking the time to write about my reappointment. I appreciate your encouragement and good wishes. Sincerely,  CCM:dmg-b cc:  Miss Wolfe (2)  110  •  BOARD CF OF GOVERNORS TIE FEDERAL RESERVE SYSTEM 1383 J1IN 27 Ail  Warren L. Batts President and Chief Operating Officer  045  OFFICE OFRECEIVED TI:E 011AIRPAN June 20, 1983  Mr. Paul Volcker Chairman - Federal Reserve Board Federal Reserve Building Constitution Avenue NW Washington, DC 20551 Dear Paul: Congratulations are certainly in order on your appointment to a second term as Chairman of the Federal Reserve Board. In my opinion, the President has made a very wise choice. We believe the Country is very fortunate to have a man of your qualifications in such a critical position at this time. The last few years have been very painful to many, both individuals and businesses, as we have learned to live with lower inflation. Let us hope that in the years ahead the pain will not have been in vain. Sincerely yours,  /(2g)z- iw7  Dart & Kraft, Inc. 2211 Sanders Road   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Northbrook, Illinois 60062   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 17, 1983  Mr. Robert A. Beck Chairman and Chief Executive Officer The Prudential Insurance Co. of America Newark, New Jersey 07101 Dear Bob: Many thanks for your note on my reappoittment. Lots of problems -- but let's hope some of them are soluble. Sincerely,  PAV:ccm  The Prudential Insurance Company of America Prudential Plaza, Newark, New Jersey 07101 Robert A. Beck, CLU Chairman and Chief Executive Officer  July 6, 1983  Dear Paul: Congratulations! I was delighted to hear of your recent reappointment as Chairman and Governor of the Board of the Federal Reserve System this is great news, both for you and your organization. It's a real pleasure to see someone with your enthusiasm and abilities reelected to this post -- and I'm sure you'll continue to do an outstanding job in meeting all the challenges which lie ahead. I wish you the very best for good luck, much happiness, and every continued success in the years to come. Warm personal regards, Sincerely,  The Honorable Paul A. Volcker Chairman & Governor The Federal Reserve System Federal Reserve Building Room B-2046 Constitution Avenue, N. W. Washington, D. C. 20551   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  •   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  BOARD OF GOVERNORS OF THE FECERAL RESERVE SYSTEM  1983 JUL 1 1 41 9: 40 RECEIVED OFFICE OF THE CHAIRMAN  mr"   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 25, 1983  Dear Ralph: I should have written long ago to thank you for your note on my reappointment -- all the more because you had to listen to a commencement address from me almost at the same time. I must say I found the New York University graduation fun. It is an impressive thing to see all those students streaming in from all the spokes of the wheel into Washington Sccuare in the midst of my own city. Thanks for writing and my best to you both. Sincerely,  Mr. Ralph E. Esgkals. Landfield, BeF7FY- & Green 1220 Nineteenth Street, N.W. Washington, D. C. 20036  PAV:slw  •  LAN DFIELD, BECKER & GREEN 1220 NINETEENTH STREET, N.W. WASHINGTON, D.C. 20036  (202) 775-0300  TELEX: 197629 LABEC OF COUNSEL  RICHARD LAN DFIELD  RALPH E. BECKER  WILLIAM W. BECKER  HAROLD C. PETROWITZ  ROY E. GREEN  June 30, 1983  Mr. Paul A. Volcker Chairman Federal Reserve Board 20th Street and Constitution Avenue Washington, D.C. 20551 Dear Paul: Like many of your friends, we are thrilled that you were renamed by the President to run the Federal Reserce for another five Years. You have great supporters like Jake Garn and Howard Baker and those in financial circles. Though there was quite a bit of guessing, am confident that the President took under consideration your impartiality and outstanding qualifications and your dedication to the fight against inflation. In your statement of acceptance you restated your position that we now have a rare oppertunity to achieve substantial growth on a firm foundation of stability. A news article about you stated "the country feels he is a pragmatic economist and astute politician who has helped to restore the federal reserve's credibility as an institution dedicated to keeping inflation in check." Your record speaks for itself. One of your members, Caroline Ahmanson is a very close friend of ours. She was hoping and praying that you would be re-appointed and was thrilled when she heard the announcement. Fortuitously, Ann and I met you at the graduation exercises for New York University where our daughter was graduating with her Masters Degree in Education. It was really an accident to be in the same "spoke of the wheel" among 12,000 to 15,000 and also to hear your learned and pragmatic address.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  AKIVH3 TA .43 331330 tilA1-313 1 1 :6 UV  E861  431.S.1tS 3A113211 3111 33 S11(114'd3A09 AO MU  LANDFIELD, BECKER & GREEN  Mr. Paul A. Volcker June 30, 1983 Page 2 Know that you have confidence of the President, the Administration, the Congress, the people and particularly those in the financial community to do what is in the best interest of the economic health of our country and the world.   https://fraser.stlouisfed.org AN. Federal Reserve Bank of St. Louis  very good wish for the ""11 "4014/ '  ext pve years. Since  Ra_p  E. Becker  June 30, 1983  Mr. Robert 3. dee Managing Director and Chief Executive Officer London Interstate Bank Limited bastion House 140 London Well London EC2Y 5011 Dear Bob: Thanks so wuch for taking my reappointment.  he time to write about  I appreciate your encouragement and good  wishes. Sincerely,  PAV:evii   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  LONDON INTERSTATE BANK LIMITED REGISTERED OFFICE  BASTION HOUSE 140 LONDON WALL LONDON EC2Y 5DN  TELEX 884161 FX TELEX' 884162  REGISTRATION  DEALERS. 01-606 2833/4  ENGLAND 992750  20th June 1983  ROBERTN.BEE MANAGING DIRECTOR  TELEPHONE 01-606 8899  AND  CHIEF EXECUTIVE OFFICER   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Mr. Paul A. Volcker, Chairman, Board of Governors of the Federal Reserve System, Washington, DC 20551, U.S.A.  Dear Paul, Just a its to express my hearty congratulations on your re-appointment as Chairman. I can only hope that this decision, which is manifestly good for the U.S. and the world, will also turn out to be good for you.  Sincerely,  RNB:ZC  4==t  ( 0473.  " ri  OZ)  c=1, ^,  CJ1  Shareholders: Gotabanken; The Indiana National Bank; Maryland National Bank; Sparekassen SDS  a,  to'  JOSEPH ALSOP  Telephone June 20, 1983  Your reappointment, and above all your acceptance of it, won me an agreeably large bet in combination. But that is not why I write you. You are one of the few public servants I can think o.50).in these last grim years for the public service7who have truly "deserved well of this Republic."  It's  appropriate to use the Roman Senate's language, too, because you have made serious personal sacrifices to serve our country so admirably and courageously.  Hence  I now rejoice that you have agreed to the President's request to stay on at the Federal Reserve. I also feel a duty to offer my warm thanks as an American citizen for what you have done and for your willingness to carry on.  00,101L  ktt  .,11A  ,  9))14k1\40%)14  Paul A. Volcker, Chairman Federal Reserve Board 20th and Constitution Avenue, N. W. Washington, D. C. 20551  1414;1uJitrY404   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  10-   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  •  f  BOARD OF GOVERNORS OF THE FEOERAL PEPER VE S'tSTEI4  1283 JUN 22 P14 12: 40 RECEIVED OFFICE OF THE CHAIRMAN   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 5, 1983  Mr. Joseph Alsop  Dear Joe: I suppose this is an occasion for a little pomposity, but the words of so long and experienced observer of the national scene do mean a lot to me. All we can do at this point is keep at it. Best regards,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 13, 1983  Mr. Kerry J. Berman Marketing Specillist S&L Mortgage Services, Inc. 18307 Sherman Way Reseda, California Dear Mr. Berman: Many thanks for the note.  Things  are better, but there is a lot of work to do yet. Sincerely,  PAV:ccm   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • S&L MORTGAGE SERVICES,INC. KERRY J. BERMAN Marketing Specialist  rn r) GX )  rig  r---  co 3", • 2f, C , C:) •••, --r1  ce, „At G--) C=0 1-11 trvl  f:5)  July 8, 1983 r rt  The Honorable Mr. Paul Volcker Federal Reserve System Washington, D.C. 20551  Crt  cr) .  Dear Mr. Volcker: In June of 1981 you took the time to respond to me per your letter enclosed. My letter wasn't very nice and you responded anyway. I wanted you to know that I have quoted your letter many times to thousands of Realtors in the State of California, admitting that your approach to the inflation and interest rate problem was accurate and working. You are to be congratulated on your re-appointment and the fine job that you've done in your prior administration.  I?' /  I know now that you alone can't be held responsible for high interest rates, you're doing what you can and without the support and cooperation of our government your job is a difficult one. Keep up the good work, and all the very best in future years.  Sincerely yours  Kerr  J. Berman  Executive Office: 18407 Sherman Way, Reseda, CA 91335-4387 • (213)342-6155 873-4970  r •• ,.c_.•0.,ofGovi,i.  BOARD OF GOVERNORS OF THE  FEDERAL RESERVE SYSTEM  •c 0 ct . A a.,• '71  WASHINGTON, D. C. 20551 • Ok • • RAL   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Iti•S • •..• •  PAUL A. VOLCKER  June 29, 1981  CHAIRMAN  Mr. Kerry J. Berman  Dear Mr. Berman: Thank you for your recent letter. I am sympathetic to the problems that inflation and the resultant high interest rates are causing you and many other people in our country. The root cause of high interest rates is of course inflation, and I am convinced that we will not be able to have a sustained reduction in rates until inflation is brought to heel. The Federal Reserve has been restraining the rate of growth of money and credit because this is an essential element of any successful program to reduce inflation. Monetary restraint in a period of high inflation and inflationary expectations combined with fairly strong economic growth and high Federal deficits inevitably results in pressure on credit markets and interest rates. However, we really have no choice but to pursue monetary restraint. If we attempted to reduce interest rates by greatly expanding the money supply, the resulting increase in inflationary expectations would lead to even higher rates. I know that the current level difficulties for those who are particularly However, it is my fervent hope that with Federal spending, we can all look forward to rates.  of interest rates causes severe dependent on credit markets. monetary restraint and reduced less inflation and lower interest  Thank you for taking the time to write. Sincerely,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  All  June 30, 1983  Mr. Dean Armstrong Custom Solvents & Thinners, Inc. Box 456 Ellendale, Tennessee 38029 Dear Mr. Armstrong: Thanks so much for taking the time to write me aboutmyy reappointment, particularly given your earlier note. We've still got lots of Problems ahead, but I appreciate your encouragement and good wishes. Sincerely,  BOARD OF GOVERNORS "'if FEDERAL P,ESERVE SYSTEM 1983 JUN 27 AM 10: 5 RECEi OFFICE CF THE  CHAIRMAN  THIS FORM IS USED TO EXPEDITE MATTERS THAT MIGHT BE DELAYED IN NORMAL OFFICE ROUTINE  FROM  CUSTOM SOLVENTS & THINNERS INC. BOX 456 ELLENDALE, TENNESSEE 38029 (901) 372-8551  ettfrAi_r)  CUMNI SOLVENTS HAS THE SOLUTIN TO  SUBJECT  r  iegr Ar Vol  6,12  q9-//77 21C  FOLD  rre  6kiy /DO  (- re g,lom  pi  o J o leyp.  Pi6k'  60/1  --t- J  no1-‘-5  3/,)  /4",, /1-\  6 5 4 3 2 1  https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  4-ez  7 ke49'../  ye:I)   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 5, 1983  Mr. James D. Berry Chairman of the Board Republic Bank Corporation Pacific and Ervay Streets P. 0. Box 222105 Dallas, Texas 75222 Dear Jim: Thanks for the kind words of confidence and encouragement on my reappointment. I'm sorry to hear you've been ill and wish you a speedy recovery. Sincerely,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  RepublicBank Corporation  James D. Berry Chairman of the Board  June 22, 1983  Dear Paul,  I have been in the hospital for two weeks and have just gotten home -hence, the reason for my not responding immediately to the good news announced the end of last week. Congratulations are indeed in order! I am very proud of you and hardily endorse the President's recent actions. Enclosed is a copy of the press release we issued which echoes my feelings. With sincere best wishes and warmest personal regards,  Cordially yours,  es D. Berry  Mr. Paul A. Volcker, Chairman Board of Governors of the Federal Reserve System Washington, D. C. 20551  3H.L JO 331.4.40 03A13311  8C :II NV 8Z Nnr C861 1A131SAS 3A113S311 1ni303.4 TrLI JO S8NII3A00 JO 0'000 Pacific and Ervay Streets  P.O. Box 222105  Dallas, Texas 75222  Removal Notice The item(s) identified below have been removed in accordance with FRASER's policy on handling sensitive information in digitization projects due to copyright protections.  Citation Information Document Type: News release Citations:  Number of Pages Removed: 2  Republic Bank Corporation. "Holding Company Chairman Lauds Reappointment Of Paul Volcker." RPT 8331, June 20, 1983.  Federal Reserve Bank of St. Louis  https://fraser.stlouisfed.org   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Georges Berthouin European Chairman Trilateral Commission 35 Av Friedland 75008 Paris, France Dear Georges: Thank you so much for your message about my reappointment. It's particularly encouraging from so experienced an observer of the international scene. Sincerely,  PAV:ccm  --I :7-C1 CZ)  ::o  CCI  :7-C1  C".".4)  c:i =I •:= CD  CO  Te  74.3  c-..,  :74:1  t-i rn 1-.:.•  r-  a)  rLazi  :74:1  r-n  ) CA.  KJ"  •~41.  F.4. .......  -n  Ch  1-  ptxr:  WorMimi& Comm  JAIL eta suopeNununuo)appappom Affill, JAIL elm suageNumuulo)  1 . ..0  n1 17) -.... 2.1D .w... t...... t.-1  I.....4  co co 1.....4 cn  " . r.i .  .....4•  rn  I:7i  CO 7.1  -C.1 8.71 CD  co :••••0 tr..1  M  I:7j :Xi M  74,:i  r-  :7.0  ‹. . 7.  munications via TRT IN Worldwide Communications via TRT  Immo)appappom   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Robert H. Bethke  Dear Bob: Right now, I think I'm nuts, but I do appreciate your letter--best to Patter. Regards,  •  4010-   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ROBERT H. BETHKE  EIOARO OF GOVERNORS CF THE FEDERAL PIESME SYSTEM  IS83 JUN 2/i PO 12: 58 j(44/6.-  --  A114  P)g-i4 L  4-1.?fly  cr  RECEIVED OFFICE er CHAllrir L g•-  4I L.  44-c-  eke  oF tv  C  /OP  (5717  0:L1)o)  ti)ba-  yek44.. ptic  Azc 7G fick Aan.t,LCI)G e(-cis/ Av.Le 17.41 4.  Removal Notice 7KHLWHPLGHQWLILHGEHORZKDVEHHQUHPRYHGLQDFFRUGDQFHZLWK)5$6(5 VSROLF\RQKDQGOLQJ VHQVLWLYHLQIRUPDWLRQLQGLJLWL]DWLRQSURMHFWVGXHWR copyright protections.  ŝƚĂƚŝŽŶ/ŶĨŽƌŵĂƚŝŽŶ Document type: newspaper article  Pages Removed:  Author(s):  Title:  Vocker's New Challenge  Date:  June 21, 1983  Journal:  Christian Science Monitor  Volume: URL:  Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  https://fraser.stlouisfed.org   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 12, 1983  Mr. Eugene A. Birnbaum  Dear Thanks so much for takinc the time to write about my reappointment.  I appreciate your ercouragement  and good wishes. Sincerely,  EUGENE A BIRNBAU4kEW'YORK NY  Western AA • Unionivialigram ' ilt  •  U S MAIL  4-040065516R 06/18/83 ICS IPMMTZZ CSP WPM 2122060280 MGM !Dm! NEW YORK NY 78 06.18 1107P EST  (7)  -1-t rri e) irlry  EP cz,  NJ  •  •  rri  td.::  THE HONORABLE PAUL A VOLCKER CHAIRMAN THE FEDERAL RESERVE BOARD OF GOVERNORS 20TH AND CONSTITUTION AVE NORTHWEST WASHINGTON DC 20002  r^r7  •  rrl  cc) No  Col",  rir,  IT WAS A PLEASURE TO HAVE SUPPORTED YOUR SELECTION AS THE BEST MAN FOR THE ENORMOUSLY IMPORTANT TASK OF RESTORING STEADY GROWTH AND EQUILIBRIUM TO THE WORLD ECONOMY. I LOOK FnRwARD_TO !HUNG YOU ONCE AGAIN AT AN EARLY OPPORTUNITY, mY WARMEST CONGRATULATIONS AND BEST WISHES FOR SUCCESS ON YOUR REAPPOINTMENT. SINCERELY, EUGENE A BIRNBAUm NEW YORK NY 23110 EST  •  mGmCOmP  •  •   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  1  f CD  rrl  • •  CZ)  TO REPLY BY MAILGRAM MESSAGE, SEE REVERSE SIDE FOR WESTERN UNION'S TOLL - FREE PHONE NUMBERS  Pr-) CZ)  ;,1111..4 1, • 0, •  • A  •  •  y  6  TO-REPLY By MAILGRAM IVIESSR1/4G,PHONE WESTERN.UNION ANYTIME, DAY OR NIGHT: 7  I  •  1'  •  •• FOR:YOUR LOCALNUMBER, SEE THE WHITE PAGES OF YOUR LOCAL TELEPHONE DIRECTORY OR DIAL (TOLL-FREE) 800-257-2241 (EXCEPT IN NEW JERSEY 800-632-2271)  •  •  OR DIAL WESTERN UNION'S COMPUTER DIRECTLY:  FROM TELEX I   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  6161  FROM TELEX II (TWX)  910-420-1212  •  • •  • •  •  =MN\  July 5, 1983  Dr. h.c. Kurt Birrenbach  Dear Dr. Birrenbach: Thanks so much for taking the time to write about my reappointment.  I appreciate your encouragement and good  wishes. Sincerely,  PAV:nlf   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • KURT BIRRENBACH   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • AUGUST-THYSSEN-STR  1  June 20, 1983  Mr. Paul A. Volcker Chairman of the Board of Governors Federal Reserve System Washington, D.C. 20551 USA  Dear Mr. Volcker:  I heard on Saturday evening on the BBC broadcast that you have been re-elected. I can only congratulate you and your country, and also the European Community. I convey to you my best wishes and hope that you will be able to get the problems of the American currency policy under control. The summit meeting in Williamsburg has brought about only a convergence of views, but remained a declaration of intent. The result of the European summit is still less favourable. I think that a high degree of cooperation is necessary to get the present crisis under control. You will be one of the principal personalities who can make such solutions possible.  With my best regards,  liViM11/113 03A133.38 :431110  ee :1! iVNor  1861  ii31E4S 11113S3,11 3111 A 7V11303d STONOA00 0 CATO  DR. DR.h.c. KURT  BIRRENBACH  4 DUSSELDORF  , UcXXXXXXNXIXM  Postfach 8006  1   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  September 2, 1983  The Honorable Courtney N. Blackman Governor Central Bank of Barbados P. O. Box 1016 Bridgetown, Barbados Dear Courtney: I just got your letter today, after seeing you in person. But, as you know, I appreciate the thought. It was good to see you.' Cordially,  PAV:ccm  S CENTRAL BANK OF BARBADOS COURTNEY N. BLACKMAN, G.C.M   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  P.O. BOX 1016 BRIDGETOWN, BARBADOS.  Governor  29 August, 1983 Zi5rrt CP 7,0 c:  Mr. Paul A. Volcker Chairman Federal Reserve Board of Governors Constitution Ave. at 20th Street, N.W. Washington, D.C. 20551  Dear Mr. Volcker, Even though I will be seeing you in the course of the IMF Central Banking Seminar, I should still like to put in writing my congratulations to you on your reappointment as Chairman of the Federal Reserve Board. I regard it as triumph for central bankers everywhere. My very best wishes to you and Mrs. Volcker.  Sincerely,  CZ' 77,  cx) c, ca c:=)   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 25, 1983  Mr. Charles G. Blaine  Dear Charles: Many thanks for your warm note on my reappointment. The best thing is I have been able to combine it with a little fishing in the past week, which helps explain why I haven't been able to get around to my mail sooner. All the best. Sincerely,  PAV:dmg-b  July 15, 1983  Dear Paul, I wrote you a note when you first became Chairman, and you kindly responded. I write once more to express my congratulations and Godspeed. You have lived up to every expectation and done a remarkable job at no inconsiderable personal sacrifice. The nation is grateful to you, and that may be the highest honor you will ever receive. My son Charley tells me that he has met you and that, among other things, you share with him a love for fly fishing. Like me, he is one of your great admirers. Sincerely,  Chart-e-g—G. Blaine RRo  Paul A. Volcker, Chairman Federal Reserve Board Washington DC 20551   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • BOARD OF GOVE RNORS CF THE FEDERAL RESER VE SYSTEM 1983 JUL 1 8 PI 9: 32 REC OFFICE OF TEEEIVCED HAIRMM   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  S   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Edward G. Boehne President Federal Reserve Bank of Philadelphia Philadelphia, Pennsylvania 19105 Dear Ed: Is that a synonwm for foolhardy? Thanks for the note. Sincerely,  PAV:ccm  So be it!   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  -  •  •  FEDERAL RESERVE BANK OF PHILADELPHIA  2_ 0  iI,,,,,, // /   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • BOARD OF OF GOVERNORS THE FEDERAL RESERVE SYSTEM 1E83 JUN 21 Rif 11: 58 RECEIVED OFFICE OF THE CHAIRMAil  -41  July 5,  Mr. Ualter C. Dolce Realcnomics Corporation 3500 East Coast Highway Corona Del Var, California Dear Mr. Boice: Thanks so much for taking the time to write about Ely reappointment. You are notdoubt right in your riddle paragraph, but I do appreciate your support.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Sincerely,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  •  REALONOMICS CORPORATION  June 22,1983  —11 rn ••-ri  CA)  rn • Ti  rri 7,7= r-  7.1& : r71  C/3  ...... — rel --rri  rvi , Le=  --,,  Mr. Paul Volcker, Chairman Board of Governors Federal Reserve System Washington, D.C. 20551 Dear Mr. Volcker: Congratulations on your re-appointment. I am sure that Congress will confirm. I would again like to thank you for doing a magnificent job. I was very happy to hear that you were willing to take the job again. In the past, I have given you my unqualified support, however, I am a little uneasy about your newly found popularity. It is regretable that it is probably nothing but a passing fancy. Seriously, you have been doing a magnificent job and I am glad you will continue in your position. Sincerely yours,  Walter C. Boice  3500 EAST COAST HIGHWAY, SUITE 1, CORONA DEL MAR, CALIFORNIA 92625, PHONE (714) 675-6700  G—D  CX)  rrt  =  •"""1  Cr,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 12, 1983  Mr. Thomas R. Forar, President AmeriFirst Federal Savings and Loan Association One S.E. Third Avenue Miami, Florida 33131 Dear Tom: Thanks so much for taking the time to write about wy reappointment.  I appreciate your encoura7ement  and good wishes. Sincerely,  '""lawr  AMERIFIRST  One S.E.Third Avenue Miami, Florida 33131  Federal Savings and Loan Association  BOARD OF GOVERNORS CF THE rI.., FEAKAL Le3 1983 JIM 23 WI 10: 1 1 RECEIVED OFFICE OF PIE CHAIRMAN  June 20, 1983  Honorable Paul A. Volcker Chairman Federal Reserve Board 20th Street & Constitution Ave., N.W. Washington, D.C. 20551 Dear Paul: Congratulations to you on your being reappointed by President Reagan. Congratulations to us for your being willing to accept reappointment. I have some minor capacity to appreciate the strain this job must be and the tremendous sacrifice you are making to do it. You have done a great job and returned credibility to the Fed, which is making for solid progress on the inflation front. We extend our best wishes and our thanks to you for your tremendous contribution. Cordially,  Thomas . Bomar Pres ,, ent  TRB/la  Main Office:(305)577-6100 Broward County: 763-4346 '''.E2'474-(7"11:4  https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  •   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  The Honorable Gerald K. Bouey Governor Bank of Canada Ottawa KlA 069 Canada Dear Gerry: I appreciate the message, and I'll need the best wishes and more. Sincerely,  PAV:ccm  VI  g .2  211 MI Lc,  :le i HT I 1 q 7A6...1 FFDR2 nn 1! qmJil . I  ii2r:r2 . ,  I .. a., a OTTAWA  JUNE  2ili: i..1; . )  E MR, PAUL 11: un! ricfFR E cHRIpmFiN ric I L.1%.......1 L. RESERUE SYSTFM ... THE rcrippcit PAU OF FiOUERNORS ,t. WASHINGTON co : FIND 1 SEND OUR Hr: .: „,,...! „ ,Ltriu,„, Is, mv ,,i, irrmRTInN -qtp tr =.0.....1.% %., . .T i-inktr-pciTiticiTTniqc PN Tipmce... 1.%...111,-!1 ..t. -olt..."1 1 *.:1.$11%.1.%_tutit.  8 am is  1.2 -r crtp pcgooni 4 I 1 t2 1 2 2 2 22  I L...2 ti %  ;I 2  ...., • ,. ?. .0 I, v ,^"," 2 •iicro!i...11 w F.  i,t.r..: 1.."..“...1 !... 1 r'^uelli; RRNIe. 2! ..,rittt.1.1.  i97668 BANKCDA OTT  0  611  =11 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  , " 22 2 2;  i--.*tp grn 1 .cit 21 int...  TiCr'T  r•urr• NiOnL,1:   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Robert H. Boykin President Federal Reserve Bank of Dallas Dallas, Texas 75222 Dear Bob: An "official" -- but strongly felt -- thanks for your note.  We've got problems to attack together! Sincerely,  PAV:ccm  • FEDERAL RESERVE BANK OF DALLAS  ROBERT H. BOYKIN  June 22, 1983  DALLAS,TEXAS 75222  PRESIDENT   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Dear Paul, These congratulations on your reappointment could not be more sincere! Without exception, the feedback from the business community in this part of the Country is most positive, and there is general agreement with those of us in the System, that this action by President Reagan could not be more prudent. Personally, I look forward to continuing our working relationship,with reinforced conviction that the System leadership continues in most capable hands. Sincerely,  Chairman Paul A. Volcker Board of Governors of the Federal Reserve System Washington, D. C. 20551  17C  1'9  2:  NJ CD  c./3 —‹  CD V   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Dr. John Brademas President New York University Elmer Holmes Bobst Library 70 Washington Square South New York, New York 10012 Dear John: Thanks for the note  .1•••• 0111111.  one compensation  is to have you in New York. Sincerely,  PAV:ccm   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • NEW YORK UNIVERSITY A private university in the public service Office of the President ELMER HOLMES BOBST LIBRARY 70 WASHINGTON SQUARE SOUTH, NEW YORK, N.Y.10012  June 20, 1983  The Honorable Paul A. Volcker Chairman Federal Reserve System Constitution Avenue and 20th Street, N.W. Washington, D.C. Dear Paul: Congratulations! I am delighted and look forward to working with you.  JB/rs  1414181V1-13 Lij 331.W 03A1333  8C :1 kid L  Nnr £661  :131SAS 3/1113838 1Vii3031 31.11 JO  smena .-1,0 Ding   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 18, 1983  Mr. Nicholas F. Brady  Dear Nick: Sorry to have missed you recently, but I do want to thank you for your counsel and support through all of this period. It meant a lot. Sometimes, as you can imagine, I wonder why. But I suppose there are duller things tic) do, and just a little challenge. I just may need that help someday, so be prepared! Sincerely,  PAV:ccm  NICHOLAS F. BRADY  4,-/tav 7/4d4,4.4.Li 7/". kkA  eh ,e,ze /4 Asi i'd416 ,;(4t..t   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  MA 74144) Aitle/c  444/  rt.*,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ERNORS BOARD OF GOVE OF TH VE S'ISTD1 R : S E . F L A R E D FE  1: 32 N P 7 2 N U J 3 138 RECEIVED CFFE CF lilE   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1933  Mr. Cyril F. Brickfield Executive Director American Association of Retired Persons 1909 K Street, N. W. Washington, D. C. 20049 Dear Mr. Brickfield: want to thank you and your membership for your steadfast support and good wishes. Your words of encouragement on the occasion of my reappointment are deeply appreciated. Sincerely,  NMS:dmg-b cc:  Miss Wolfe (2)  •  • AMERICAN ASSOCIATION OF RETIRED PERSONS  June 22, 1983  -In co (J.,  •75.;TA ‘c-J  • ..„:-* t'..)  tLI 70. -----• vo --7ca t c=. --o "-11 .,-rt C": --ri 0 ,....,  .o•  --r, •:-.'.'" •••••• . • CI CO  Mr. Paul A. Volcker Chairman The Board of Governors of the Federal Reserve System Washington, D.C. 20551 Dear Sir:  On behalf of our membership we congratulate you on your reappointment as Chairman of the Board of Governors of the Federal Reserve System. This will give you an opportunity to continue your work of keeping the economy on a deflationary course. Your success in bringing inflation rates out of the teens and down to relatively low single digits has been most remarkable. It should be deeply appreciated by all those who have suffered from the scourge of inflation, especially the elderly. Permit us to mention that the recent rates of growth in the money supply have caused us some concern. We recognize that turning points in the economy may conform to no precise rules. Judgement must often supersede mechanical formula. Nonetheless, we would hope that a clearly systematic approach to expanding the money supply is resumed and adhered to. The dangers of a paper currency expanding in an inflationary manner are ever present. Sincerely,  Cyril F. Brickfield   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Arthur F. Bouton AARP President  Cyril F. Brickfield Executive Director  National Headquarters: 1909 K Street, NW., Washington, D. C. 20049 (202) 872-4700  `..:9) 0 ••••4  .....) .....ri rl ••• r1-11 .----. ,,,,.......: rri  rn V.) ....4 CI) ......1 ....  ::, *Z. c. : , 2' cf)   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Daniel H. Brill  Dear Dan: How loud do I have to holler? Sincerely,  NMS:dmq-b cc:  Miss Wolfe (2)  BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 1903 JUN 27 AM 11: 19 RECEIVED OFFICE OF TFIE  kr/W/6 (Yi ' Ni70-07j  )(‘7  C.)   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  5(Y  drr)/  r  fry,  dv14-0-W  cr1-0-v 17 ,  rIrlIlla  rlaINVG  •   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 25, 1983  Mr. Tore Browaldh Vice Chairman Svenska Handelsbanken S-103 28 Stockholm, Sweden Dear Tore: I am late in getting around to all my correspondence, but I did want to thank you for your warm letter on my reappointment. We will need that luck while we look forward to the improvement in the world economy! Sincerely,  PAV:dmg-b  r-e Browaldh rCHAIRMAN  ik  SVENS   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ANDELSBANKEN  S-103 28  STOCKHOLM, SWEDEN  July 11, 1983  Mr Paul Volcker Chairman Federal Reserve Board WASHINGTON D.C. USA  Dear Paul, There are times, when good wishes come true. All we European bankers are ecstatic that you will continue to guide monetary policy in the U.S. I know that the world economy is going to improve because of your reappointment. I wish you all luck! Yours sincerely, c4q  .A0,111. 0  (;01.2‘\tvscic  ' c1 A'A' ori* tio  a  June 30, 1983  Mr. K. E. Euhrmaster Chairman of the Board Mohawk Avenue at Ten Broeck Scotia, New York 12302 Dear Ken: Thanks so much for taking the time to write me about my reappointment. Your encouragement and support are deeply appreciated. Sincerely,  CCM:dmg-b cc:  1   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Miss Wolfe (2)  BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 1933 JUN 27 AM 11: 1  1ST NATIONAL BANK OF SCOTIA   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  LECEIVE0 CIFFTE 1JF ME CHAIR  K. E . BUHRMASTER CHAIRMAN OF THE BOARD  June 24, 1983  Mr. Paul A. Volcker Chairman of the Board of Governors Federal Reserve System Washington, D. C. 20551 Dear Paul: Back in 1979 I wrote to express my great pleasure with your appointment as the Chairman of the Board of Governors of the Federal Reserve System. At that time, you gave us great hope for outstanding leadership. You wrote back to me on August 7, 1979, and said, "I hope I can live up to some of this--all I can say is that I set at the feet of some masters." You have performed to our highest hopes. You have handled inflation beyond that which seemed possible. You are the "master." You are an outstanding citizen. Keep up the fine work. Take care of yourself, and please accept my thanks, and kindest personal regards. Sin  yours,  K. E. Buhrmaster Chairman of the Board KEB:cg  MOHAWK  AVE,  BALLTOWN 1705  ROAD  CENTRAL  KARNER  AVE,  ROAD  ERIE  BROECK, SCOTIA,  TEN AT  NEW  YORK  NOTT, SCHENECTADY. NEW  YORK  AT  KILLEAN  AT WESTERN  2 4 0 SARATOGA 1 20  AT  RD. AT  PARK,  ALBANY,  NEW  AVE, GUILDERLAND, NEW YORK  GLENRIDGE, SCOTIA, NEW  BOULEVARD,  YORK  SCHENECTADY,  NEW  YORK YORK  ROUTE 50 AT BRAINARD STREET, SARATOGA SPGS, NEW YORK   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 2, 1983  Mr. Hugh Bullock Calvin Bullock Forum One Wall Street New York, New York 10005 Dear Hugh: Thanks! Sincerely,  11111111101w-  * MESSAG;: DONE ** * rSSAGE  11  AREC20  *11,  ED RES BD WSH  U I0FOMASTER 1-013142C171 06/20/83 CS IPMLIGWF WSH 3711 06-20 0309P EDT WX 7108229235 FED RES BD WSH -0121791171 06/20/83 WX BULLOCK NYK 001NEW YORK. NY 6/ 20/83 TitMSTHE HONORABL E PAUL A. VOLCKER HAIRMAN. FEDERAL RE SERVE BOARD 'ONSTITUTION AVE. & 20TH ST.. NW ASHINGTON. D.C. 20 551  I ill  PERFECT. UGH BULLOCK 347 EST 424 EST 019=ED RES BD WSH *  MESSAGE DONE   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM  1903 JUN 20 Pli 5: 06 RECEIVED OFFICE OF TIE CHAIRMAii   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • CALVIN BULLOCK FORUM ONE WALL STREET NEW YORK 10005  January 26, 1983  Dear Paul: Indeed I appreciate your problem and your nice letter.  Very best wishes from,  Hugh Bullock  The Honorable Paul A. Volcker Chairman Federal Reserve System Washington, D.C. 20583 C7) ' -71   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  January 21, 1983  Mr. Hugh Bullock President Calvin Bullock Forum One Wall Street New York, New York Dear Hugh: I appreciate your kind words. I also appreciate your renewing the invitation to address the Calvin Bullock Forum. I've hesitated in answering because I'd like to do it sometime, but when I say I have 10 days of Congressional testimony and 3 speeches before the end of February, you get some indication of the problem. Let me try to get back in a few months. With best wishes, Sincerely,  PAV:ccm CC: Joe Coyne   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  • CALVIN BULLOCK FORUM ONE WALL STREET NEW YORK 10005  November 22, 1982  The Honorable Paul A. Volcker Chairman Federal Reserve Board 20th Street and Const. Avenue, N.W. Washington, D.C. 20551 Dear Paul: You are doing a superb job for our country! I know it is not easy and can well imagine under what pressure you are. Surely S n some occasion you will be coming to New York and if you could honor our Forum once again from four o'cl.ock to four-thirty on any business day you could, without press coverage, perhaps say some things probably reassuring to top financial people and industrialists that it would be constructive to get across to them. Won't you seriously bear this in mind. Very best wishes f om  Hugh Bullock, President HB:ml Encl. _03  SZ i  6Z i\ON 18Si   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  August 25, 1983  Dear Marshall: Many thanks for your note on my reappointment, however belated my reply. Barbara may have another view of the situation, and sometimes I wonder. But we will proceed. Our best to you both. Sincerely,  Mr. Marshall Burkes  PAV:slw  S  June 22, 1983  Mr. Paul Volcker Chairman Federal Reserve Board Constitution Ave., bet. 20th & 21st St. N.W. Washington, D.C. Dear Paul, What a relief: I was beginning to become fearful that you were going to get out ---- while you are ahead. Congratulations on your re-appointment as Chairman of the Federal Reserve Board. You certainly made your contribution to this country and based on the outpouring of support from responsible individuals more of the same is desired and probably expected. Audrey and I extend our best wishes to you and Barbara. If you should need a retreat for any occasions, do let us know. Sincerely,  Aohei-e Marshall Burkes  (X)  1:: c=  .-....-l i,..4  CT) or)  .._.. .—  ,.:, 0 ).-Cie.)  CX:  Clt: fer-4 LJ—J 7.›. Le-J .;x"'  Z2  C-D 1"--. LA-1 Gr.; 1.1*. Lt_t .)  fb". c‘i  .cic cm =  LI./ C-_, 4 :7.. .... LJ_J C.....) i."--  0:: 44' CZ) L4..1 CE)  C=3 LALJ   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Cr) 0=1 '-)  Li—   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  July 5, 1993  Mr. William H. T. Bush President The Boatmen's National Bank of St. Louis The Boatmen's Tower 100 North Broadway Box 236 St. Louis, Missouri 63166 Dear Bucky: Thanks for your warm wishes on my reappointment. The rapport and constructive relations I've developed with members of the banking community over the years are a source of great satisfaction. Sincerely,  NMS:dmg-b  S THE BOATMEN'S NATIONAL BANK OF St LOUIS  WILLIAM H. T. BUSH President  THE BOATMEN'S TOWER 100 North Broadway, Box 236 St. Louis, Missouri 63166 314 425-7500  20 June 1983  Mr. Paul Volcker Chairman Board of Governors Federal Reserve System Washington, D.C. Dear Paul: Congratulations on your reappointment by President Reagan! Those of us who have greatly admired your work in the past feel a great sense of relief that the decision was the proper one. You have our every wish for continued success. Sincerely yours,  C.0  =,  c  ..`_c.; LA—I I-C.01-J  ......  c= LLJ LW ›.. IL LI >1" c... I.... 1.4.4 ._ La..1 LA.Lt..— e=i CC ft  cza CC)  --I f.-.0 0=  14 . 8  C3   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  04 ..., ft  64  =  fr... CL.  fZ ==  04 •"-T. =  —2 0°,  The Oldest Bank West of the Mississippi / A Subsidiary of Boatmen's Bancshares, Inc.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  June 30, 1983  Mr. Willard C. Butcher Chairman Chaee Manhattan Dank 1 Chase Manhattan Plaza New York, New York 10081 Dear Bill: Thanks for the Hong Kong message. Just read a Lyndon LaRouche piece saying I learned how to destroy the world at Chaee, so you are implicated. Sincerely,  PAV:ccm  0  I  :  riFcSAGE  AREC23  ***  EED RES BD USH UCS WOMASTER 1-026691M171 06/20/83 IPMWGWJ WSH 1300 -070324G171 06/20/83 IISS F M WUW 20 0700 NL AMERICA MS OF WASHINGTON DC HWB773 VDB199 VDA HX73437/030 068/065 20 1954 CHAIRMAN SHINGTON/DC HAVE CHAIRMAN OF  3 3  11  'WX 7108229235 FED RES BD WSH  il  • CS IPMIIHX IISS  41  miallwA HL HXHK 068 ONGKONG I R PAUL VOLCKER  ill  AMERICA THE GOOD NEWS OF YOUR AT CHASE  FEDERAL RESERVE BOARD OF THE UNITED STATES OF  JUST ARRIVED IN HONG KONG AND HEARD N APPOINTMENT AS THE FEDERAL RESERVE BOARD. HEARTY CONGRATULATIONS FROM ALL OF YOUR FRIENDS MANHATTAN. SEND MY 2/15WD EST WISHES FOR YOUR CONTINUED SUCCESS. 1 ILL BUTCHER CHAIRMAN THE CHASE IFONN  li  MANHATTAN BANK. N A  0732 EST 111928 EST ED RES  BD  WSH  ImESSAGE DONE *** ticc)SAGE  AREC24 ***  li  ED RES BD WSH ,..  a  m MESSAGE DONE ***   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis