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Ex~OPPICIO w. P. G, HARDING, GOV~ftMllft MEMISSRS PAUL M. WARBURG, VIal GOVIRNOR FRIDERIC A. DELANO ADOLPH C. MILLER CHARLES S. HAMLIN WILLIAM G. McADOO SECRETARY OF THI TREASURY CHAIRMAN JOHN SKELTON WILLIAMS FEDERAL RESERVE BOARD COMPTROLLER OF THE CURRENCY H. PARKER WILLIS, SICRITARY SHERMAN P. ALLEN, AliT, SICRETARY AND FISCAL AGENT WASHINGTON ADDRI:S8 RI:PLY TO FEDERAL RESERVK 190ARD May 31;. 1918, X-9'16 Gentlemen: 1 hand you herewith a letter, ace cmpanied by a form of BesolutioD ot Counsel relative to the issue of Federal Roserve Bank Notes, approved br the :Board at its meeting this morning, and transoitted for your tntorma~ion and use. Very truly yovrs, Secretary. Federal Reserve Bank, W. P. G. HARDING, GOVERNOR PAUL M. WARBURG, VIC! GOVERNOR EX·OFFICIO MEMBERS FREDERIC A. DELANO ADOLPH C. MILLER WILLIAM G. MCADOC SECRETARY OF THE TREASURY CHAIRMAN JOHN SKELTON WILliAMS COMPTROLLER Of' THE CURRENCY CHARLES S. HAMLIN H. PARKER WILLIS, SECRETARY SHERMAN P. ALLEN, ASST. SECRETARY AND FISCAL AGENT FEDERAL RESERVE BOARD WASHINGTON ADDRESS REPL. Y TO FEDERAL. RESERVE BOARD x-9'76-B WHEREAS, under authority of section 5 of the Act of April 23. 1918, "Federal Reserve Banks may be either permitted or required by the Federal Reserve Board at the request of the Secret~ry of the Treasury to issue Federal Reserve Bank notes in any denomination, including the denominations of $1.00 and $2.0C, authorized by the Federal Reserve Board, in an amount not exceeding the amount of standard silver dollars melted or broken up and sold as builion under authority of this Act. upon deposit, as provided by law, with the Treasurer of the United States as security therefor of United States indebtedness or of Unit~d certific~tes States one-year gold notes;" of and WHEREAS. this bank desires to issue from time to time such an amount of Federal Reserve. Bank Notes under authority of the Act aforesaid as the Federal Reserve Board may determine to allot to it and to that end desires to subscribe to and purchase such certificates of indebtedness of the united States as it may be necessary to deposit as security for sucb notes; N~l, THEREFORE, be it resolved that in order to expedite the issuance of such notes and to obviate the necessity of having certificates of indebtedness purchased by authority of ttds Act, forwarded by the Secretary to this bank for deposit with tho Treasurer, the Federal Reserve Board be and it hereby is authorized, empowered and requested to act as its agent or attorney in fact in applying for and purchasing such certificates as may be . i .: X•-9'16-B. necessary to secure th, notes that are to be 1fsued as herein provided. and in depositing certificates so acquired with the Treasurer of the united States as security for .the notes . issued. . . BE IT FURTHER.RESOLVED, That the Federal Re$erve Board is authorized and empowered to execute such applications. receipts and othl'lr papers for and on behalf of this bank as may b~ necessary to meet the requirements of the.law, such applica• tions, receipts and other papers when so executed to have the same force and effect and to be binding on this bank to the same extent as if executed by duly authorized officers of this bank. The foregoing is a true and correct copy of resolution offered, duly adopted and spread upon the minutes of a meeting of the Board of t)irectors of this bank held on the. day of 19 • --- Secretary.
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