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1016 W . P . 6 . H A R D I N G . GOVERNOR A L B E R T S T R A U S S . VICE GOVERNOR ADOLPH C. MILLER CARTER GLASS THE TREASURY CHAIRMAN J O H N SKELTON WILLIAMS COMPTROLLER OF THE CURRENCY C H A R L E S S . HAMLIN HENRY A. MOEHLENPAH FEDERAL RESERVE BOARD W . T . C H A P M A N , SECRETARY R . 6 . E M E R S O N , ASSISTANT SECRETARY A D D R E S S REPLY TO FEDERAL RESERVE BOARD W . M . I N L A Y . FISCAL AGENT WASHINGTON December 23,1919* *-1773 Subject: Shipment of Currency by Registered Mail at Parcel Post Bates. Dear Sir Referring to the Board's telegram of December l6> advising that arrangements have been made with the Post Office Department that, beginning January 15, 1920, currency in denominations of $1, $2 and $5 may be shipped by Federal Reserve Banks and their Branches to correspondents and to Washington by registered mail, at Parcel Post rates, there follows a copy of the Post Office order, providing for this service, together with a statement giving full information concerning the manner of computing and paying postage on shipments and other conditions applicable thereto. "Parcels containing currency of one or two dollar denomination or coin put up in fixed quantities as original sealed packages, offered for mailing by the Treasury Department, or its field service, or by Federal Reserve Banks or their branches, shall, if insured at the ten cent rate of insurance, be accepted at the fourth-class rate of postage and accorded the same treatment as registered mail. Similar parcels containing currency of five dollar denomination shall be given like treatment on payment of maximum insurance fee and the fourth-class rate of postage "Both the inner and outer wrappers of the packages of currency may be sealed when mailed at the fourth-class (parcel post) rates of postage under the provisions of the foregoing Order. Each parcel, except when sent under the conditions indicated in the next paragraph of this letter must be stamped on the address side thereof "Insured", the number of the parcel placed thereon, and notation made immediately under this endorsement to the effect that by direction of the Post Office Department these articles are to be handled and accorded the same treatment as registered Mail. , > -2- V" . X-1773 1017 " O r i g i n a l sealed packages of currency of the one, two and. f i v e do llaj* denominations and coin mailed under the p r o v i s i o n s of Order Ho. 373S, when sent "by the Treasury Department or i t s f i e l d s e r v i c e t o the F e d e r a l Reserve Banks er t h e i r "branches, or by the Federal Reserve Banks or t h e i r t r a n c h e s t o the Treasury Department or i t s f i e l d s e r v i c e , or from one to the o t h e r , may, when the q u a n t i t y i s s u f f i c i e n t t o warrant such procedure, be put up i n r o t a r y lock pouches or sacks, provided postage and insurance f e e s a t the r a t e s prescrioed by the Order are paid on the contents of each pouch, such charges to be based on each u n i t of 70 or 50 pounds or f r a c t i o n t h e r e o f , according t o the p a r c e l p o s t zone to which t h e shipments are addressed^ For i n s t a n c e , i n the case of a pouch containing 95 pounds of currency of the one or two--doliar denomination or coin going to the t h i r d zone, postage a t the r a t e f o r that zone, namely s i x c e n t s f o r the f i r s t pound and two cents f o r each a d d i t i o n a l pomd or f r a c t i o n t h e r e o f , would be paid on the equivalent of one 70-pound p a r c e l and one 25pound p a r c e l , making the t o t a l postage charge fox- the contents of the pouch $1.98, The insurance f e e s thereon would amount t o 20 c e n t s , making the t o t a l charges on the pouch $2.18. Postage stamps i n payment of these charges should he a f f i x e d to a tag cc l a b e l s e c u r e l y attached to the pouch> The pouches or sacks i n which s^-ip~ ments are made to the Federal Reserve Banks or t h e i r branches shcu d be closed with the ordinary domestic r o t a r y locks and n o t with T-locks, as the Federal Reserve Banks and t h e i r branches have n o t been f u r b i s h e d T - l o c k keys. "The postmasters concerned w i l l be i n s t r u c t e d i n r e g a r d t o the f o r e g o i n g . I t i s understood t h a t you d e s i r e t h i s t o go i n t o e f f e c t on January 15,19^0, and t h i s w i l l be s a t i s f a c t o r y . " Very t r u l y y o u r s , Secretary* l e t t e r t o Governors of a l l F«R. Banks*
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