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EX-OFFICIO MEMBERS
W. P. G. HARDING, GovERNOR
ALBERT
WILLIAM G. MCADOO
JOHN SKELTON WILLIAMS
COMPTROLLER OF THE CURRENCY
STRAUSS, VICE GoVERNO"
ADOLPH C. MILLER
CHARLES S. HAMLIN
SECRETARY OF THE TREASURY
CHAIRMAN
FEDERAL RESERVE BOARD
J. A. BRODERICK, SECRETARY
L. C. 'ADELSON, ASSISTANT SECRETA~Y
W. T. CHAPMAN. A.S1ISTANT SECRETARY
W. M. IMLAY, FISCAL AGENT
WASHINGTON
ADDRESS IIEPLY TO
FEDERAL RESERVE BOARD
November 29 , 1918 ~
SUBJECT: Entries reducing outstanding
F.R.notes and F.R.ba.nk notes to be made
on f~~ 34 upon receipt of advice f~om
u.• s~ Treasurer.
Dear Sirl
During the more
re~ent
months the volume of Federal Reserve
notes returned to the Comptroll~r of the Currency for destruction
~s increased SQ rapidly that the Redemption Division is rio longer
.able to count the note.s and advise the Federal Reser'Ve ~ents _o;f
th,eir ·denominations at or about the same time notice of redemptiol'l
·is terwa.rded to the Bank by _the u. S, Treasurer.
It is neee~rsa.ry, how-eve·r·, tha.t tpe amo'\lllt of notes actually
outstanding, ·t.e., the net a.JOO'Iflllt~ issued by the .Agents to tl)e'
:Banlcs';·· ShoUld be~ aeelll'ately Shown ~t· a.li ;times by bot}l t}le 4cm.ts
and the Banks. Aeoot-d.il1;.;ly {t is r·e~u.ested that. in the future entries reduc.il:\g the·amc)unt of notes outstanding, etc.,. be, ptit.th:foue;h
bo.t}l the. Bank's and Agent" s books imnediately upon receipt of advice
from. the U.: S~ TreasUl"er that note$ have be·en redeemed.• Thi~ Will
neeessi tate yOur holding mC;nthly report of Federal Reserve notes by
denomination$· (Form' 44.-..-J"ev. )" un tU the necessary advice o£ the ~e;..
noinin13,tions ·of the notes destroyed is received from the, Comptroller
of' 'th$_ 'C\:irrenc;v.· ·
· ·
·
·
Likewise·. the amount of Federal Reserve Bank notes outstanding.
the net amount received from the Coznptr.oller of tha Currency,
. ~hould be decreased, ill'ltlladiately' UpOn :recetpt of advice from the ·. '
U• S" Trea.sur et that such no t.ea .b.ave b eilll redeemed out of the Bank' s
J"e~erilption tul;l.d- . The weekly report· of Federal· Reserve l3Bnk notes ,
receive4 frol!l the Comptroller,. etc~, bY' denominations, shoUld be
held until not!ce is reCei-Ved froin the Redemption rivi sion showing
.the denominations
of the notes
reeaived for cancellation.
.
,
..
i.e~,
Yours very truly,
Secretary.
St .87
@FedFRASER