The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
101
BOARD OF GOVERNORS
OF" THE
FEDERAL RESERVE SYSTEM
WASHINGTON
S-419
ADDRESS DF"F"ICIAL CORRESPONDENCE
TO THE BOARD
January
J, 1942
Dear Sir:
Enclosed you will find a copy of a letter, dated January
1, 1942, addressed to the Board of Governors bf the Honorable Robert
P. Patterson, U!1der Secrstary of War, and a copy- of Governor Draper 1 s
reply thereto, relating to Executive Order No. 9001, dated December
27, 1941. There is also enc~_osed a copy of P. & C. General Directive
No. 98, signed by the Under Secretr.u7.
In all probability the Dafense Contract Officer at your
head offiee and branches, if any, will receive an increasing number
of requests from officers of the supply arms and. services of the War
Department for information and assistance in expediting the war effort. Requests will be received for confidential reports regarding
industrial concerns in order to aid in the intelligent awarding of
contracts and in order that requests for advance pa;y-ments may be
acted upon as promptly as possible. It will be appreciated if you
will forward to this office a cov.r of each of the reports made ~r
the Defense Contract Officer at your head office and branches, if
any, advising the name of the officer to whom the report was furnished and the name and address of the concern involved. In those
cases where the report is furnished in connection with an advance
payment request, please also set forth in the co~r of the report
forwarded to this office the number and amount of the contract, the
date of its execution, the article or articles contracted for, and
the amount of the advance payment requested.
Major Paul Cleveland of the Office of Under Secretary of
War plans to visit certain field procurement districts in the very
near futuro and, as Judge Patterson's letter sets forth, expects to
contact certain 'Of the Defense Contract Officers while on such visits
in connection with the War Department's procedure as outlined in
General Directive No. 98.
102
S-419
-2-
Your cooperation in assisting the War Department will be
verJ much appreciated.
Very truly yours,
Chester Morrill,
Secretary.
Enclosures 3
TO THE PRESIDENTS OF ALL FEDERAL RES.F1\VE BANKS
COPY TO FEDERAL RESERVE DEFENSE CONTRACT OFFICERS
(P. & C. General Directive No. 98 sent only with
copies to Presidents and Defense Contract Officers.)
S-419-a
103
WAR DEP ARTME.NT
OFFICE OF THE UNDER SECRETARY
Washington, D. C.
J anuar.r l, 1942
Board of Governors of the
Federal Reserve System,
Federal Reserve Building,
Wa,shington, D• C•
Attention:
Honorable Ernest G. Draper
Gentlemen:
For your information there is enclosed a co~r of P. & C. General
Directive No. 98, dated December 30, 1941, relating to Executive Order No,
9001, signed by the President of the United States on December 27, l9L~l.
This General Directive, addressed to the chiefs of the supply arms and
services, outlines the War Department procedure in r';spect to advance payments to contractors.
As you will note, reference is 1:1ade to the chiefs of the supply
arms and services and other officers obtaining confidential information
with regard to financial condition and management referred to in the Directive from the Federal Reserve Defense Contract Officers at the 12 Federal Reserve Banks and 24 Brunches. The V!ar Department would appreciate
the Federal Reserve System's cooperation in making available confidential
information of this nature in order to aid in tho intelligent awarding of
contracts and in order that requests for advance payments may be acted
upon us promptly as possible.
A representative of the Advance Payment Section, Purchase Contract Branch, Office of the Und€r Secreta17 of War, will visit certain
field procurement districts in connection with the War Department's operations under P. & C. General Directive No. 98, and i f agreeable to you
expects to contact your defense contract officers. Also, a list of the
names and addresses of the Fvderal Reserve Defense Contract Officers,
which your office is furnishing, will be m~de available to the chiefs of
the supply arms and services and other officers in order that they may
know the proper contacts to make at the Federal Reserve Banks and Branches.
It is contemplated that representatives of nv office will continue to call upon the Board of Governors, as in the past, for confidential information regarding certain contractors making requests for advance
payments in those cases where the requests are not supported by sufficient
information to enable my office to pass upon them initially or by way of
review.
Your cooperation in assisting the War Department in these matters
should materially expedite the war effort and will be very much appreciated.
Sincerely yours,
(Signed) Robert P. Patterson
Under Secretary of War
104
S-419-b
,January 3 , 19 L~2
Honorable Robert P. Patterson,
Under Secretary of War,
War Dopartmunt,
Washington, D. C.
Dear Judge Patterson:
rtoceipt is acknowledged of Jrour letter of January
l, 1942, relating to Executive Order No. 9001, signed by the
President of the United States on December 27, 191.-l, and General Directive No. 98 of the Vlar Department outlining the War
Department 1 s procedure in respect to advancE:: payments to
contractors.
It is the desire of the Board of Governors to be
of evory possible assistance to the War Department in expediting the war effort and you can be assured that Federal
Reserve Dofensu Contract Officors at tho twelve Federal Reserve Banl<:s and twenty-four branches will fully cooperate
with the chiefs of the supply arms and services in making
available c::;rtain confidential information to aid in the intelligent awarding of contracts and to expedite action in
respect to advance payments to contractors.
The Board of Governors has today advised the Presidents of the Federal Reserve Banks and the Federal Reserve
Defense Contract Officers of the new procedur~ to be followed 1:{y the Vfar Department and has a.lso adv..ised them that
a representative of your office will visit cer·tain field
procurement districts and expects to contact the Defense
Contract Officers in certain of the Reserve Banks.
Sincerely yolU'S,
(Signed)
Ernest G. Draper
Ernest G. Draper.
@FedFRASER