Full text of Mimeograph Letters and Statements of the Board : Letter From Asst. Secretary, Sept. 18, 1917, to Federal Reserve Bank, Cleveland, Ohio, Stating That Transfers May Be Made by Federal Reserve Banks From Gold Settlement Fund, for Credit of Member Banks in 5% Redemption Fund Held by Treasurer of U. S., Number X-385, Volume 6, Page 2727

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EX-OFFICIO MEMBERS

W. P. G. HARDING. GOVERNOR
PAUL M. WARBURG. VICE GOVERNOR
FREDERIC A. DELANO
ADOLPHF Cf^MCECER
CHARLftSi9W*ft.tN

WILLIAM G. McADOO
SECRETARY OF THE TREASURY
C h a ir m a n

JOHN SKELTON WILLIAMS

FEDERAL RESERVE BOARD

COMPTROLLER OF THE CURRENCY

H. PARKER WILLIS, SECRETARY
SHERMAN P. ALLEN. ASST. SECRETARY
AND FISCAL AGENT

W A SH IN G TO N

ADD R E SS R E P L Y TO

FEDERAL RESERVE BOARD

September 18, 1917,

Dear Sirs!
Reference ia mad® to the letter of your
Assistant Cashier, Mr* Davis, dated September 12;
invfcieh information is requested as to whether Fed*
oral reserve banks may make transfers from the Cold
Settlement Fund; for the credit of member banks ih
the 5$ Redemption Fund hold by the Treasurer of the
United States.
The Treasurer’s office is agreeable to thi3
arrangement, and such transfers can bo made.

It is,

of course, desirable that they be made in as large
amounts as possible.
Very truly yours,

Assistant Secretary.

Federa.1 Reserve Bank,
Cleveland, Ohio.