Full text of Mimeograph Letters and Statements of the Board : Statement for the Press Announcing Death of Benjamin Strong, Governor of the Federal Reserve Bank of New York, Number X-6161, Volume 29, Page 318

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M S

X-6161

FEDERAL

RESERVE

BOARD

STATEMENT FOR THE PRESS

For immediate r e l e a s e .

October 16, 1928.

In the absence of Governor Young, who i s in Texas,
Mr. Edmund. Piatt* Vice Governor of the Federal Reserve Board,
gave out the following:
11

The report of the death of Governof Benjamin Strong
of the Federal Reserve Bank of iTew York was a s u r p r i s e and a
severe shock t o the members of the Federal Reserve Board# He
was the outstanding p e r s o n a l i t y of the Federal Reserve System,
a man of great foihse of character, of highest i d e a l s , unsparing
of himself i n h i s devotion to duty. For several years he has
been handicapped by recurring i l l n e s s , but could r a r e l y be p e r suaded to escape completely, even for a season, from the responsib i l i t i e s of h i s p o s i t i o n , and he was r a r e l y so f a r away that he
could not be reached f o r consultation. He played a large p a r t
i n the o r i g i n a l working out of the organization and functioning
of the Federal Reserve Banks and was the leader i n a l l conferences
of the Federal Reserve Banks with the Federal Reserve Board so long
as h i s h e a l t h permitted. His advice and cooperation were eagerly
sought by the Central bankers of Europe on the recent reconstruction
of monetary systems from the demoralization caused by war.
The members of the Federal Reserve Board are profoundly
grieved a t h i s l o s s . "