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405 FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO T H E FEDERAL RESERVE BOARD X-6576 April 19, 1930. Dear SirMoney market" and related developments since the last meeting of the Open Market Policy Conference March 24-25 have teen such as to lead to some thought here, as elsewhere, that the relation of the Federal Reserve System to current trends should be reviewed with a view of determining whether the System's position should he readjusted;and, more particularly, whether the System portfolio of Governments should be maintained at ltd existing level. With these considerations in mind, I am waiting to ask whether you think a meeting in the near future is desirable, and whether i t would be convenient for you to attend, if the meeting were called for Monday, May 5th. It i s realized that not a l l meiribers of the Conference may find i t convenient to attend, especially those living at a distance;. and the fact that two meetings of the Conference have already been held this year is not overlooked by the Board. A writteh statement df views would be appreciated by the Board ftfom any bank not participating in the meeting of the Conference, should i t be called. Very truly yours, B, A. Young, Governor. TO A L L GO VISITORS.
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