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319 · lEx OPPICIO MEMBIIIUI DAVID F. HOUSTON SICIITARY OP THI TRIAIUIY CHAIRMAN ., FEDERAL RESERVE BOARD JOHN SKELTON WILLIAMS C:OIIPTROLLIR OF THI CUIRINC1 W. P. G. HARDING. GOV!RNOI ALBERT STRAUSS, YICI GOVERNOR ADOLPH C. MILLER CHARLES S. HAMLIN HENRY A. MOEHLENPAH W. T. CHAPMAN, SICRETARY R. G. EMERSON, ASSISTANT SECRETARY ADDRESS REPLY TO WASHINGTON FEDERAL RESERVE BOARD Dear Sir:Referring to Governo1• Harding:' s let'11er of March 30th, X-1878, tra.nsmi ttin~ the reply ,:;f . the Fed.;;:r..s:.l Jle~e;;:va Bua:.'(:;. to Sena~~ :lot>v·· lutlon No. 328, a lim,. ted su.:;:.ply of :printed copies of this document has .been recehred by the Board, and 1. am sending you under separate cover, t'Venty·-fiv9 c09ies for use by your bank .. Very truly yours, Assistant Secreta1·y. To Chairll'an of all F .R. Banks. W. M.IIILAY, FISCAL AGINT