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BOARD OF GOVERNORS

OF THE

FEDERAL RESERVE SYSTEM

Office Correspondence
To

Chairman Eccles

From

Richard A« Misgrave

Date JU» 12,191a
Subject:

Debt Retirement

V>\l\tU

Mr* Rouse phoned and said that Kft% Wiggins had mentioned
to him that some moderate amount of funds might be available later
in the month for debt retirement. Mr. Rouse suggested that it
might be better to make the payments on the bills maturing on
June 26 rather than on those maturing June 29 since in the latter
week there -will be a drain on the market from payment of tax funds •
The probable amount of bill retirement m i l be 200 million dollars
or less* Yfe all agreed that the 29th was a preferable date and
this, of course, is completely within the recommendations expressed
in the Committee1s letter•