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Ex -O f f ic io m em bers W. P. 6. HARDING, GOVERNOR PAUL M. WARBURG, VICE GOVERNOR FREDERIC A. DELANO ADOLPH C. MILLER CHARLES S. HAMLIN WILLIAM 6. McADOO SECRETARY OF THE TREASURY CHAIRMAN JOHN SKELTON WILLIAMS COMPTROLLER OF THE CURRENCY FEDERAL RESERVE BOARD H. PARKER WILLIS. SECRETARY SHERMAN P. ALLEN, ASST. SECRETARY AND FISCAL AGENT W A S H IN G T O N ADDRESS REPLY TO _ m n n EEDERAL RESERVE BOARD December 21, 19X7. Dear Sir: The Federal Reserve Board has had tinder careful advisement the question of making suitable acknowledgment to persons who, while not attached to the Staff of Federal Reserve Banks, generously participated in the Liberty Loan work of the several districts, Many such persons served on committees and assisted in the placing of bonds at consider able expense and inconvenience to themselves. In sending out instruc tions with reference to the preparation of the reports of the Federal Reserve Agents, Governor Harding, some time ago, suggested that no special praise ol thanks should be given to anyone mentioned by name in the reports, but that such acknowledgment should be purely general. In the reports thus far received some of the Federal Reserve Agents fol lowed these instructions closely while others have entirely disregarded them. The Board feels that it will be necessary to eliminate from all reports statements of the kind referred to, but in order not to seem un generous it is suggested that those Federal Reserve Agents who feel sc disposed may incorporate into their reports a paragraph in somewhat the following .form: "Appreciative acknowledgment is hereby made to the many citizens who patriotically and unselfishly cooperated in the work of the local Liberty Loan organization and who freely devoted their time to the task of placing the bonds in the hands of subscribers.- While no ex pression of individual thanks is possible in this report, there is annexed hereto a roster of the various committees participating in this work in order that there may be an official record of their ef~ forts." There may then be attached to the report as an appendix or exhibit a list of the committees and their rrembership, in which nay be set forth the names of all those who, in the opinion of the Federal Resfuve Agent submitting the report, are entitled to such recognition. If you have already inserted in your report a paragraph to sub stantially this effect accompanied by such a list of names, no further action on your part is necessary. If, on the other hand, your report does not contain such an acknowledgment and if you think it desirable to add material of the kind above described, the Board will bo glad to re ceive such data at as early a date as possible. Those reports which con tain as a part of their text descriptions of the personnel of the Liberty Loan committees will be edited by the omitting o. such data, and those f who desire the insertion „f some acknowledgment in place thereof, should prepare and forward it substantially in the form herein recommended. Very truly yours, S e c re ta ry . X-601
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