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ODD
FEDERAL RESERVE BOARD
WASHINGTON
address official correspondence to
the federal reserve board
J u l y 29, 1924.
St. 4i6?.
SUBJECT: Expense Budget.
Dear S i r :
I n connection with the study of the comparat i v e {functional expense e x h i b i t s f o r a l l Federal reserve
banks and branches, the question of e s t a b l i s h i n g a
budget system f o r the control of expenses has a r i s e n .
In order t h a t t h i s Committee mgy be informed aS t o what,
i f any, steps have been taken ty t h e banks with r e f e r ence to t h e establishment of a budget f o r any or a l l of
t h e i r expenses, i t w i l l be appreciated i f you w i l l adv i s e promptly whether or not your bank has in operation
any form of budget c o n t r o l .
I f you have any such system,
kindly d e s c r i b e i t s operation, s t a t i n g how long t h e
system has been in e f f e c t and what r e s u l t s you have obtained from i t s operation.
Yours very t r u l y ,
Geo* E. James, Chairman,
Committee on S a l a r i e s ,
Expenditures and E f f i c i e n c y .
LETTER TO GOVERNORS OF ALL FEDERAL RESERVE BAMS.
@FedFRASER