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872 W . P . 6 . H A R D I N G . GOVERNOR EX O F F I C I O M E M B E R S A L B E R T S T R A U S S . VICE GOVERNOR ADOLPH C. MILLER CARTER G L A S S SECRETARY OP THE TREASURY CHAIRMAN C H A R L E S S . HAMLIN FEDERAL RESERVE BOARD J O H N SKELTON W I L L I A M S COMPTROLLER OF THE CURRENCY W . T . C H A P M A N , SECRETARY R . 6 . E M E R S O N , ASSISTANT SECRETARY A D D R E S S REPLY TO FEDERAL RESERVE BOARD WASHINGTON W . M. I N L A Y , FISCAL AGENT November 10, 1919 X-1720 SUBJECT: Fragments of M u t i l a t e d Notes Dear S i r : The Board h a s r e c e i v e d a l e t t e r f r o m one of the F e d e r a l Reserve Ijariks, from which the f o l l o w i n g i s an e x t r a c t : "We have found i n s o r t i n g and s t r a p p i n g u n f i t n o t e s t h a t we accumulate l a r g e q u a n t i t i e s of t o r n p o r t i o n s of n o t e s , which, i f o b t a i n e d by d i s h o n e s t p e o p l e , might be used f o r the purpose of r a i s i n g o t h e r n o t e s . Our t e l l e r s a r e i n s t r u c t e d t o k e e p t h e s e b i t s of n o t e s i n t h e i r p o s s e s s i o n and p u t them away i n t h e i r s a f e s a t .night., a s they do t h e i r c a s h , and p e r i o d i c a l l y these .torn b i t s a r e burned under proper s u p e r v i s i o n . " I t a p p e a r s t h a t i t would be d e s i r a b l e to r e q u i r e t e l l e r s t o t u r n over t o a d e s i g n a t e d o f f i c i a l a l l f r a g m e n t s of n o t e s i n order t h a t any danger of t h e i r misuse may be avoided. Very t r u l y y o u r s Governor L e t t e r t o Chairman of each F e d e r a l Eeserve dank.
@FedFRASER