There was no one I desired to appoint in your place.

It is now my preference to appoint a new member of the Board to fill the vacancy created by the death of Vice Chairman Ransom.

All who are familiar with your record recognize your devotion to the public welfare and the constructiveness that has characterized your leadership in the Federal Reserve System.

I, Harry S. Truman, President of the United States of America, do hereby call upon the people of the United States, in their homes and churches, in the schools and hospitals, in social welfare and health agencies, in enforcement agencies and courts, in institutions for the care of delinquent juveniles, and in their minds and hearts, to act, individually and together, for the prevention and control of juvenile delinquency, so that our children and youth may fulfill their promise and become effective citizens in our nation.

Therefore, I urge you to remain as a member of the Board and to accept the Vice Chairmanship so that the benefit of your long experience and judgment will continue to be available.

I further urge them, as the most direct means to this end, to respond promptly to the call of the national Conference on Prevention and Control of Juvenile Delinquency by carefully preparing for, and holding, wherever possible during the month of April 1948, State and community conferences, developed on the general pattern of the national Conference, and at these conferences, or otherwise, to study State and local conditions in the light of the recommendations of the National Conference; to put into immediate effect such of the recommendations as are pertinent to State and local conditions; to develop firm foundations for continuing community action; and to take such other action as may be useful in solving this vital youth problem and in developing the genuine opportunities for useful living to which our young people are entitled.

This decision, as I assured you, reflects no lack of complete confidence in you, or dissatisfaction in any respect with your public service, or disagreement on monetary or debt-management policies, or with official actions taken by the Board under your chairmanship.

I just don't approve of Mr. Hoover's statement.

I think they should be paid commensurate with their responsibilities.

I am not for Mr. Hoover's recommendations.

Oh, eventually of course there will be one before the Democratic convention meets in Philadelphia, but I don't see that there is any hurry about any announcement.

I have never heard of it.

I wouldn't say back porch. It's front porch--front porch.

I think Mr. Wilson is living in 1890, I am sorry to say.

I have made that perfectly clear in my statement on the tax proposition.

Yes, indeed.

He would have a better chance, however, if he were on the ticket of the other old parties.

This order shall become effective as of January 1, 1948.