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968 FEDERAL R E S £ B V£ BOARD STATEMENT FOR THE PRESS*, X-l?47 For immediate r e l e a s e * Announcement was made today t h a t under arrangements made between the Treasury and the Federal Reserve Board, standard s i l v e r d o l l a r s t h a t ' a r e f r e e i n the Treasury w i l l u n t i l f u r t h e r n o t i c e be d e l i v e r e d a g a i n s t other forms of money to the' Division of Foreign Exchange of the Federal Reserve Board, which w i l l , through the Federal Reserve Bank of New York, cooperating with the branches of American banks i n the O r i e n t , employ such d o l l a r s in r e g u l a t i n g our exchanges with s i l v e r standard c o u n t r i e s . This arrangement does not, of course, a f f e c t the redemption of o u t s t a n d i n g s i l v e r c e r t i f i c a t e s i n standard s i l v e r d o l l a r s . December 6, 1919 -
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