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FEDERAL RESERVE BOARD X-3799 WASHINGTON August 1, 1923 ~ SUBJECT: Uniformity of Policy in Sta.tistica.l, Publication Work, etc .. Dea.r Sir: The Boa.rd has decided to make a. systematic survey of publica.tions, public rela.tions and statistica.l work now being performed a.t the several Federa.l Reserve Banks with a. view to informing itself a.s to the desira.bili ty of o ffecting a. reorganization of the work of this na.ture done by the Federal Reserve Boa.rd and the s e.veral Federal Reserve Banks .. It is the purpose of the Boa.rd to secure greater unity a.nd efficiency in work of this cha.ra.cter and by the elimination of duplication, and otherwise, to reduce costs. The work of the Cornrni ttee on Economy and Efficfency and of the Procedure Comrnitte·es in the respective banks ha.s been devoted prima.rily to e.ffecting economies and improving efficiency in the operating departments of the benks. The Boa.rd, however, feels tha.t it ha.s a. specia.l responsibility with regard to the cost, scope and character of activitias conducted under the direction of the Federal Reserve Agents a1d is, therefore, especia.lly interested in wha.t is being done by the Agents to increase efficiency and reduce costs in their depart!Thilnts ~ The sta.tis• tical organizations of the twelve banks a.re costing a.t the rate of approxima.tely $540,000 a. year.. Of this total aiDOunt, a.pproxima.tely twothirds, or nearly $360,000 a. year:, is spent by four of the banks. In order tha.t the expenditure of such la.rga r,ums of money for this purpose :ro.ay yield proportiona.te results it is necessa.ry tha.t the work of the Boa.rd and of the banks be rr.ore systewa.tica.lly organized and tb.a.t the cha.:ta.cter and scope of the work be n:ore clearly defined. It is with this purpose in mind that the Eoa.rd is undertaking a. survey of the sta.tistica.l work of the Boa.rd a.nd of the banks. In order tha.t fuller informa.tion may be a.t hand in making this survey, the Board req_uests tha.t you assemble and send to the Secretary's office copies of a.ll reports and s ti'ltements corrpiled and distributed by your department during the month of June, 1923, including reports rra.de to officers and directors a.s well a.s reports issued to the ·public for general circulation. · By order of the Federal Reserve Board. Very truly yours, w. W~ Hoxton, Seereta.ry. To All Federal :Reserve Agents.
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