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EX·OFFICIO MEMBERS W. P. G. HARDING. GOVIRNOR PAUL M. WARBURG, VICE GOVERNOR FREDERIC A. DELANO ADOLPH C. MILLER CHARLES S. HAMLIN WILLIAM G. McADOC SECRETARY OF THE TREASURY CHAIRMAN JOHN SK"ELTON WILLIAMS COMPTRO~LER OF THE CURRENCY FEDERAL RESERVE BOARD WASHINGTON H. PARKER WILLIS, SECRETARY SHERMAN P. ALLEN, ASST. SECRETARY AND FISCAL AGENT ADDRESS REPLY TO FEDERAL RESERVE BOARD May 9, 1918. X-935 Dear Sir: The Board has received a letter from the Chief Inspector of the Post Office Departrr.ent calling attention to losses of currency in the ~ails which have ocourred at rather frequent intervals, and to the efforts which have been rrade by the Post Office inspectors to recover the mon0ys and to apprehend and prosecute persons corr.mitting the de prs dt'."t ir,r;.s, Re fe renee j_s n::a de to one case where more than half of the ar:,\Ji-lrJ·c f'T.oJon was recove::-ed, a.nd the rcbbers captured, this result being JIBde possible by ree.sJn of the fact that the shipping bank kept a record of the serial nu.":l.bers of the bills. It is pointed out, hovvever, that in other cases where no record of numbers Of the notes was kept, inspectors have been seriously handicapped in their investigations) and no recoveries or arrests have been made. The InspJctor has requested me to bring this matter to the attention of the :.t•'ederal Reserve lanks, and to suggest that when shipments of curroncy are rr~de by them) especially of large amounts, they keep a record of the numbers of the notes in each package. It is suggested by tho Inspector that in order to a'Toid delays. and to minimize the clerical labor 1 a record be kept only of the numbers of ·the first and last bill in each package. The foregoing is presented for your consideration, and for such action as you nay deem proper to take. Very truly yours 1 Governor. The Governor 1 Federal Reserve Bank,
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