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FEDERAL RESERVE BOARD WASHINGTON x-3153 July 1, 1921. Dear In accordance with the plan of classifying and ratin& employees of the Board, made effective July 1, 1920, there is enclosed herewith a notice of your rating and relative stanJ.ing in classification as based upon this rating, and ycur salary as of July 1, 1921, as,approved by the Federal Reserve Board. very tn1ly yours, R. G. Emerson, ASsistant to Governor. ,...,,-,...,._1 X-3153a. t. (_j ,,- July 1, 1921 TO THE EMPLOYEES OF TEE F.EDERP.L RESERVE BOJI.:RD; on July 1 1 1920, the ~oard announced to its employees, effective as of that date, a plan of classification into grades carrying sPecific salary ranges and :providing for increases of 33ยท1/3 per cent of the erly. The salary range min~, each em~loyee to be rated quartap~roved for each grade by the :Board on July 1, 1920, was determined after careful consideration of the salaries paid by the Government Departments and outside insti tutions for sim!ilar work, and the cost of living prevailine:- at that time.,_ .As th-= cost of living is now on a somewhat lower scale than it was at the time the salary classification was adopted, the 1;1oard feels that it would not be warranted in approving for certain of the employees who are entitled to adjustments in their salaries at this time the entire amount of the increase provided by their salary classification. In view of the changing conditions, the Board has decided not to make general modification in the salary ranges established under the various grades in the plan at this time, believing that it would be more satisfactory to await further readjustments in the cost of living. AS soon as it seems feasible to the Board, howeter, revision of the classification plan and the salary ranges thereunder will be made and the revised plan given to the employees. Very truly yours, R. G. Er.:erson, .~ssistar.t -~o Governor.
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