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201 meeting of the Federal Aeserve Board was held in the office of the Federal Reserve Board on Monday, March 5, 1928 at 10:45 a.m. PRESENT: PliESEY,T ALSO: Governor Young Y.r. Platt Mr. Hamlin Mr. Miller Mr. Cunningham Mr. Eddy, Secretary Mr. McClelland, Asst. Secretary Mr. ';iyatt The Governor referred to the Board's acceptance of the invitation of the Committee on Banking and Currency of the Senate that it be represented "4 hearing on Senate Resolution 4113, introduced by Senator LaFollette, on Wedja eedaY, March 7th. He inquired whether it is the Board's wish that all Illetbers be in attendance at the hearing or that some one member should appear 48 rePresentative of the Board. He stated that in either event he thought It w°111d be well for the Board to discuss thoroughly the subject matter of the resolution. During the detailed discussion which followed, the Governcr 418° referred to the fact that the Board has been requested by the Secretary Of the Treasury to prepare for his signature a reply to a letter addressed to hi.. 4441 bY the Chairman of the Committee on Banking and Currency of the Senate r egardi-ng Senate Aesolution 4113. The Governor stated that no definite foral Of reply has been prepared but that under his direction several letters 441'e been prepared by members of the Board's staff. At the Governor's regellt certain of these suggested letters were read to the Board and disellsenA 4it the conclusion of the discussion the Governor was requested to ar aft a letter for the signature of the Secretary of the Treasury along the ues of suggestions made luring the discussion and to submit it at a ting adjourned at 1:15 pan.
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