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FEDERAL RESERVE BOARD WASHINGTON X-3573 December l, 1922. SUBJECT: Payment of Gold Coin. Dear Sir: The Federal Reserve Board desires to ascertain what policy the Federal Reserve Banks ara followin~ this year with reference to payment of e:;old coins for holiday purposes. A letter receivao. from the Undersecretary of the Tr0asury states that in so far as the Treasury is concerned, there is no objection whatever to such payments and expresses the opinion that it would be the best policy to make such payments freely without question. The Undersecretary furthar states that the Treasurer of the United States has been ~iven instructions to this effect, and that the Treasury Department feels that it is highly desirable that the policy in this respect be uniform. T'ne Board concurs in the views of the Undersecretary of the Treasury as outlined above. By oro.er of the Federal Reserve Boaru. Very truly your3, Wm. W. Roxton, . Secretary. To all Governors of Federal Reserve Banks.
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