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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