The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
.
149
'
BOARD OF GOVERNORS
OF" THE
FEDERAL RESERVE SYSTEM
S-582
WASHINGTON
ADDRESS OF'F'ICIAL CORRESPONDENCE
,.
TO THE BOARD
Novembc r 10, l9L;2.
C• •
I.') •c:ar o1r:
Sever~l questions ha.ve been raised l:.:y 'F'edera1 RE:serve
Banks reg::l rdinE the extension to employee::; entering various serv- .
ice~> o'i,, act:Lv:ities 0f the benefits 1111der the prCfTi:lm £'or unifor-m
treatment c,f employees of tho ?r:;deral Heserve Banlw who are called
ir:to rni.1it:J.ry .')ervice. The~ Boa:rd'~J views v:itt~ rc·gard to tl1e vurJous qvest:l.un.s e.re summariz(~d 2.s fo11ows:
•
•
l. M(;mber 3 ci' the WAVES and V:/AACS are eonsidered a[' being. on
aeti ve m1l:L k·.ry :3c:: rv:l c.e. Women who le<,ve the employm<mt. of a Heserve B:mk or the B,·)ard to ,join the WAVES or the WAACS are entitled
to the same b·'mofi t s under the uniform progra.m e,s -'"tr·::o extended to
male empJ oyeos enter·inc{ active military service.
Whi.lo the WAAl;~) are not Dt this t:Lme authorized to purehase
NationaJ .Service L:Lfe Insur.:mce, the Huserve Bnnl<s and the Board
should r;te.nd ready· t.o reimburse them to tlw extent provided in the
uniform program U' the vvAACS should be authorized to purchase such
:lnSUl'3TlCE' •
•
•
•
..
2. a. E:mployeet-> of tho Ecserve Fhnks and the Board leaving t'J
enlbt in Cla::>s V-1 of the Unj.ted States Neval hfst:Crve or in the
Arll\Y' Enlisted Rt;::>ervc Corps to pursue i;, co] lege cdueati on at their
own cxncnse while on a.n inor.:tiv.;, military stt.J,tus in Classes V-1,
V-5, or V·-7 oZ the Naval Reservt:' or :in the Army Enlisted he.::~ervt:·,
arc not t3ntitlcd to my of th1:: b-:mefits extended under· the uniform
program to employees leaving to enter upon 'letive mil:Ltar·y duty.
b. Employ0es who, while in an in:wt:Lve mi1itary status in
Cla.sses V-1, V-5, o:!' V-·7 of the United States NaV,'l} Rcf>erve or :in
the Arrrry Jt:nlistc~d Reserve, continue in thu employment of a Heservo
fl1~.nk or the Bor.rd unt1l G~illcd into active rniJitary s..::rvice arc, of
course;, entitled, when called into active military service, to the
usu:J.l 0enefits extended unclc::r the prop'.3Jn to employees leaving to
enter U))Oll activo m:Uit.sry duty.
3.
•
Bec,'luse of Uw hazB.rds of the M-:::rchant M.Jrin<'.: and :i.tc:: con-·
tribut.ion to the
w·.~.r
effort, th·:: He serve Banks are authorized to
150
....
S-582
-t::.-
..
extend to an employee entering the United States Maritime Service
of the War Shi.pping Administrr-ttion or the United States Merchant
Marine, such of the benefits under the progrom as the Eeserve Bank
feels justified in the cireumstances. (One employee of the Board
was recently enrolled in the United States Maritime Service of the
War Shippint:: Administration. In that case, the Board extended to
him all of the benefits under the uniform program except reimbursement for premiums on National Service Life Insurance. Members oi'
the United States Maritime Service or the HerchA.nt £,larino are not
authorh;ed to uurchase National Service Life Insurance, but the
op,;rato:rs of the ships take out War Risk Insurance on the lives of
the crew Et no cost to the employees.)
4. Benefits under the progr<J.m do not extend to employees leaving to serve with the Red Cross or comparable agencies.
It i.e~ hoped thnt the above interpretations nnd <mthori::.ations cov(;:r t.he situation. If they do not, however, the Board will
be glad to have: your vit:~ws.
Very truly yours,
~r,:;...:;.?
,.,---...
~~---··.
•
•.
I
. ---/
·/.1~1
...r-r~ ·.
L. P. Bethea,
Assistant Secretary.
"
TO THE PR.ESIDE:t\TTS OF· ALL F1i:DERAL hESE:RVE; .31\NKS •
•
•
..
•
~
Pl.A·~-.-
@FedFRASER