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F E D E R A L RESERVE BOARD WASHINGTON X-3067 March 1 0 , 1921. SUBJECT: F o r e i g n F e d e r a l Reserve Note C i r c u l a t i o n . Dear S i r : 3he Board i s a n x i o u s t o form some i d e a of t h e amount of F e d e r a l Reserve n o t e s i n c i r c u l a t i o n i n f o r e i g n countries. I t r e c o g n i z e s t h a t i t would be d i f f i c u l t , i f n o t i m p o s s i b l e , t o g e t d e f i n i t e f i g u r e s , but i t b e l i e v e s t h a t i t may be p o s s i b l e t o o b t a i n i n f o r m a t i o n s u f f i c i e n t f o r f o r m i n g an e s t i m a t e . The o b j e c t of t h i s l e t t e r i s t o i n q u i r e w h e t h e r i t would be p r a c t i c a b l e t o g e t f r o m t h e l a r g e r member banks i n your D i s t r i c t a s t a t e m e n t f o r a l i m i t e d p e r i o d of t h e amount of F e d e r a l Reserve n o t e s s h i p p e d them by f o r e i g n c o r r e s p o n d e n t s . Unless you know some good r e a s o n why such a r e q u e s t s h o u l d not be made, t h e Board would a p p r e c i a t e your a s k i n g t h o s e of your member banks which h a v e c o n s i d e r a b l e d e a l i n g s abroad t o g i v e you t h i s i n f o r m a t i o n f o r title p e r i o d b e g i n n i n g March 15th and ending A p r i l 3 0 t h . TShen t h e f i g u r e s a r e r e c e i v e d p l e a s e h a v e them t a b u l a t e d , showi n g amounts by c o u n t r i e s and t r a n s m i t them t o t h e Board. "Very t r u l y y o u r s , Governor. TO THE CHAIRMEN OF ALL FEDERAL RESERVE BAMS.
@FedFRASER