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1 6.6 tel` ; OFFICERS DIRECTOR, M. B.W ELLS° R N, EDW. T. BROWN, AT LAN TA, GA. F.W. V° 0 CHAIRMAN OF THE BOARD EIDW, T. BROWN, DEPUTY- CHAIRMAN. JOS. A. McCOR D. GOVERNOR. GILES NILSON, NO M !SS. FEDERAL RESERVE BANK NASH VI LLE, TENN. L.P. HI LLYE R. W. H.K E TTIG, .JEPUTY-GOVERNOR. W. H. TOO LE J. B. PI BE, SECRETARY. OF ATLANTA. DECAg,,, GA. ''WI '.0.e.A2IV'FOI 'ALAN'S, LA. CASHIER. February 1, M.W. BELL, ASST. CASHI ER. MACON, GA. DIRM ING HAM, ALA. J.A.McC NARY, 1915in 3 NDER, G A. M.B.WELLBORN, AN NISTO N, ALA. 0;= Dear Governor Strong:- We are in re, ipt of your letter of the 30th ultimate relative-to the gold pool transfers and have carefull- noted colireTirfr''' We also/acknowledge receipt of the set of circular letter,-sent us by the Gold Fund Committee relative to/distribution of the fund on hand. We have read/these carefully and do not see wherein we will be/balled on by any of the banks to receive any of this fund. Nearly all of the contribte tors to the fund/are willing to accept New York checks in transfer, because New York exchange is at a small premium and they would prefer to have the funds at New/York to having funds here, in order that they may 114uidate Eastern credits. However, we will take pleasure in payi g out any fund that you may direct, or any of/our subscribers may request shall be depos- ited;With us. Yours very truly, /// JA4/C Mr. Benj. Strong _Jr., Governor Federal heserve Bank, New York, N. Y. '4/1 Go CO' OFFICERS ?IL ING M. B.VV E LLE30 R N, CHAIRMAN OF THE BOARD. EDW.T. BROWN, DEPUTY- CHAIRMAN. JOS. A ',CORD, GOVERNOR. GILES ..,.WILSON, DEPUTY-GOVERNOR. w, H.TO 0 LE, J. B. PIK E, SECRETARY. FEDERAL RESERVEABANK il OF AT LAN Trot AI Brpr,,,, Elm ncatnvt BANK CASHIER. DIRECTORS Err EOW. T F.W.FOOTE, HATTIESBURG, MISS. W. H. HA RTFOR LNLAySEHVILLE,TENN. W. H.KETTIG, DECATUR, GA. WI' H.H.S.TAOr's1FL;CFEANS' LA. ANNISTON, ALA. ASST, CASHIER. March 26, 1915. Ir. V. C. McLaren, Secretary to Governor Strong, Federal Reserve Bank of New York, New York City. Dear Sir:- Referring to your letter,of the 24th instant, addressed to our Governor McCorcY, enclosing copy of a letter written to Governor Strong by Governor Hamlin of the Federal Reserve Board, which Governor Strong wished our Governor McCord t1O read, we beg to advise that Governor McCord is at pres absent attending the Bankers' Convention in Florida, bu your letter will be submitted to him immediately upon is return Monday, Llarch 29th. Yours very truly, JBP:D. WINDER, GA. M.B.WELLBORN, M.W. BELL, 4 MACON, GA. BIRMINGHAM, A LA. J. A. McC RARY, 0 FILING DEPT. cy OFFICERS M. B. WE LLBO R N. /Or. 6- 1915 CHAIRMAN OF THE BOARD. EDW.T. BROWN. DEPUTY-CHAIRMAN. FEDERAL RESZEME JOS. A. MeCORD, - GI LE GOVERNOR. WILSON, 9-uttiAt. DEPUTY-GOVERNOR. W. H. TOOLE, J. B. RIK E. M.W. BELL. . , OF ATLANTA. SECRETARY. 'EllIANK CASHIER. AsST, CASH IER. March 30,1915. Mr. V. C. McLearin, Secretary to Governor Strong, Federal Reserve sank of New York, New York, N.Y. Dear Sir: On my return tor,k6anta I find your letter of the 24th inst., enclosing copy of a letter written Governor Strong by Gover r O. S. Hamlin, for which please accept my tha77, I am glad to know that Governor Hamlin is recovering right along, and hope that he will soon be back to his usual good health. Yours very truly, JAM:F DIRECTORS EDW. T. BROWN, AT LAN TA . GA. F.W. FOOTE, HATTiESBuRG, MISS. W. H. HA RTFOR D NASHVILLE, TENN. L.P. H I LLYER, MACON, GA.' W. H.KETTIG, BIRM NO HAM, ALA. J. A. MCC RARV, DECATUR, GA. P.H.SAU N D ER 5, NEW ORLEANS, LA. W. H.TOO WINDER, GA. B.VVELLBORN, ANNISTON, ALA. DIRECTORS Fl C ER S E DW. T. BROWN, AT L ANTA,GA. F.W. FOOTE HAT TIESBURG,MISS. W.H.HARTFORD, NAsHv IL LE,TENN. L.P.H I LLY ER, MACON,GA. W. H.KETTIGr T. BROWN, EDW.-BRUNO-DEPT, DEPUTY-CHAIRMAN. :::::011fW11915 FEDERAL RESERVE BANK BIRM1NGHAM,ALA. ,EZZar-RntRvE M.VV.BE J.A.MCRARY, 0 ECATu OF ATLANTA. ,J.M.SLATTERY, BANK M.B.WELLBORN, AN N iSTON,ALA. ST.CASHIER. Wednesday, November 17, 1915. 1.1x. Benjamin Strong, Governor, Federal National Bank, New York City. Dear GOvernor Strong:Beg to acknowlec:ge receipt of your letter of the 12th inst in reference to your proposed circular relating to application to sell United States Bonds and note that you are sending to the 41ederal Reserve Board t number of the circulars ond application; blanks with/the recuest that they arrange - with the Treasurer of the United States that proper 1)1'0,7' vision be made irk' his office for the handling of the applications upon receipt by him. Yours truly, Li-s GA. P.H.SAUNDERS, NEW oR LEANS, LA. W. H.TO OLE, wiNDER, GA. 41' OFFI CEPS'\ DI RE CTO RS E DW. T. BROWN, ATLANTA ,GA. F.W. FOOTE M.B.WE LLB9ORN, ediqt,1 CHAIRMATT THE" A EDW.' E.,n71)\-1 f ,-PAII=2:1.1AN JOS. A. M COGRcpcir'N'oR W.H.TOOLE, DERAL RESERVE BANK MAC ON, GA. BIRMINGHAM,ALA. OF ATLANTA. U.A.MqCRARY, ECATUR, GA. P.H.SAUNDERS, NEW ORLEANS , LA. CASR W. H.TO 0 L.,E, AS ST.CASH14:;'' N AS HVI L LE,TENN. L. P. H1 LLY ER, W.H.KETTIG, SEC,4TA J.M.Sg,FTLITTE,*ECF M.Vv.BELL, H AT TI ESSU RG.MISS. W.H.HARTFORD, January 7, 1916 AN NISTON,ALA. Jr. Benjamin Strong, Jr., Chairman Conference of Governors, c/o Federal Reserve Bank of New York, New York, N.Y. Dear Governor Strong; We are in receipt of your letter of January 3rd, enclosing us copy of the report of the examiners into the gold fund and the gold in the hands of the Treasurer of the United States for account of the Federal Reserve Lgents. In rem1y, beg to say that it is our opinion that the gold in the gold fund of the Federal Reserve BankOshould be segregated and separated from the gold that is for account of the Federal Reserve Lgents. While we do not anticipate that there should ever be any discrepancy or shortage, yet if the two funds were combined, it would be hard to determine who was responsible and who should bear the loss; whether the Federal Reserve 'Banks should bear the loss, or whether the Government should stand the loss for its Federal Reserve Agents. We therefore think it is decidedly nreferable to have the two sums of money kept entirely separate and apart. Id In reference to the other matter mentioned in your letter, beg to say that we have received from it._311erMan Allen, Assistant Secretary, his letter of January 4th, enclosing twenty-five code words for our use in making transfers of funds in the gold pool, which I trust is fully satisfactory and completes this arrangement. Yours very truly, WINDER, GA. M.B.WELLBORN, 'F.1323B JAcr 814 v ...i. , e Be, siansJI coff4 eld11311018e . . Juv, l'1131 airg' O.L* e.- eaistAi evleaeii Pit/ taLia:a al $.1 latilist xiszt,tne qo e rxo.: 0110::. ' , be (..) 7e4.t IL-. 77' Cer Crit3ifI lii loc:t.Neteri. '. .14.1kft$ .1 al 'WV 9t: iV E ,v1m4c.,..)e W.:1j 3 6Y.) 67 ; PERSONAL AND CONFIDENTIAL March 6, 1919. My dear Governor Wellborn: For some time I have been interested with some friends in a study of some of the problems of our national financial system and particularly to the possibilities of a reform movement which might result in the establishment of a scientific plan for a Federal budget. The need for this has been made apparent to me during the nest two years and as a result of contact with the financial machinery in Washington. Some of my friend's believe the time is now opportune for a general attempt to interest the people of the country in national financial reform. The campaign for saving, thrift and sensible spending, incident to the flotation of Government loans has put many of our people in a receptive mood for further suggestions in these matters. ir be reduced The national debt must be reduced and can only both individuals and the Government practice sensible spending. It is particularly true with the Government but cannot be made possible until scientific machinery is Installed to accomplish it. Students of this subject seem to be in general agreement that a scientific budget system is the only solution. To persuade our people that such a system should be installed, a nonpartisan organization should be built up and a wise and sane campaign of publicity inaugurated. It is a plan of that sort in which some of m5, friends are interested with a view to activity after the next loan is placed. In the meantime, steps must be taken to prepare the publicity, and the personnel of the organization must be developed in advance. It is, of course, out of the question to utilize the Liberty Loan Organizations as such for an enterprise of this character. It does not, however, seem Lm- proper for me to ask you if in your experience with the Liberty Loan, War Savings, or other organizations in connection with the war, you have come in contact with individuals March 6, 1919, 2 in your district who would be likely to be interested in this movement and who would be qualified for public duty. service in such an organization and who would do so as a matter of That is first needed is a representative in every State, competent to take charge of the movement and direct it in the State. He should have qualifica- tions to enable him to become a leader of the State movement, some ability as an organizer, should be public spirited, able to grasp the subject and willing to study it, and should be regarded locally as without political prejudice or purpose, and have the confidence in general of the people of the State. In addition to state directors, similar organizers must be appointed in the various counties and principal cities. I shall be greatly indebted to you if you can let me have suggestions and names of men in your district for this work without, however, mentioning the matter to them. You may know them well enough to make definite recommendations not only because you came in contact with them in Liberty Loan matters, but other public spirited activities with which you are acquainted or connected. This is a matter in which I have a strong personal interest and will be grateful for your assistance. At our meeting in Washington on the 20th, I hope to have an opportunity to refer to this matter more specifically. Sincerely yours, Governor. M. B. Wellborn, Esq., Governor, Federal Reserve Atlanta, Georgia. BS/ICH Bank of Atlanta, April 3, 1919. Dear Ar. Vellborn: I am anxious to get sacgestione from you as to some one to do some work in Tenneesee in cunnection with a propoeal now being shaped for federal legislation designed to establish a financial budget for our Governrent. The work required will not be very onerous, but it will need the services of a man who can aevelop an organization for tne pury.ase of 40M6 little educational and publicity work to bring about a better understanding of this subject. It will be necessary to raise a small amount of money, and, generally, to carry out the program which will be laid out by the organizaldon at the New York Headquarters. It needs the services of a man who is interested in the economic aspects of the Government's finance, and who is sufficiently intereetod in the subject to be willing to devote some time end energy to Oringing aoout an improvement. It would be nreferable to have some one who would be capable of making an occasional address on this subject, andnwho would be willing hienseit to etndy and understand it by an examination of literature which will later be furnished. I will greetly appreciate any nelp you can give me in this eonnection,. by suggesting anyone you think could undertake this work successfully. faithfully yours, M. Bellborn, Esq., Govereor, federal Reserve Bank of Atlanta, Atlanta, Ga. Be.i/M3B. p LIBRARY May 8, 1919. MAY 9 1919 FEDERAL RESERVE BANK -c. 4.7 Dear Mr. Wellborn: Your note of the sixth, suggesting Mr. Miller as a possible Tennessee Budget representative is just received and I want to express my thanks for your cooperation and help in this matter. It is very much appreciated. Cordially, M. B. Wellborn, Esq., Governor, 2ederal Reserve Bank of Atlanta, Atlanta, Ga. M1313 9eptember 14, 1921. Dear Governor Wellborn: You will recall that about two years ago we had some oorres-oondence in regard to th oric. of the National Budget Committee. In party at least, paz,sage of the 4,462t legislation by the Congress was due to the work conducted by that Now that the baeis of the budset system has been adopted by Cowese, comi;ittee. our organization is s.-;deavorir& to crysta11i7.e public or the i4.%,:ra of rr. sectilent for the 6urt thereby to insure per/0-3ent feceet for t econor,y it.nc- the new natiobal budget system. ike are seeking to extend this or by sel6atinE, co tar ar possi le, bankera, to a.cce0, active c simply to carry on work #bi ir.nhi' a vr!.riouo of' the oore iffroortant cities. i11 be laid :,ut for tUien. by the roltibbl ebr- ittee. The scope of ale 4ork is described in the eonlsed Remomadum. Cava you sus...;ez-A 1.regoritative :,raferably banker, who ,i,;11t-, be Alling to 6.uoopt such appointiLant6 it th-,T Aties of Atlnt, l';iminghall, Nashville and Sew Orleans. At the orent time A shall only :i,ek yo-.1 to suet naules, but later on possibly you would be willing to cowunicate with them directly and further our objecc or ha.via2 them acoept these appointmente. If for any reason you think: it unwise to make these nug4estions, ill you not write 'e quite frankly and, if y3u are willing to do so, give me your reasons. With Dest regars, sod thanking you very 'cordially, I o, our very truly, M. B. Wellborn, Es;., Governor, Federal Reserve Bank of Atlanta,. Atlanta, Ga. BS:UM enc. leptember 14, 1921. Dear Governor el/born: You 4111 recal) that about t-yo years aw we bad aome corres:Jondance in regard to tne mork of the National Budget Committee. in part, at let., passage of the 64det legislati:,z by the Congrese vas due to tho work conducted by that r;oti that the baeii cone.ati:,ee. f the bud!;et system has oeen olGai,t0C by Cowes', our organization iE e:IdeavoriT,1, to cTy5tal1i7e public eoatimEzt for the e'ui.çort oe the prrs of zo%eri.1,,...:t ocono7y theroby to insure, permanent i;oceet for the aew national bude,et syEtem. Oie 4re seeking bwattet to Locel,A to e,temi thiP work by teloting-,r Vs.r r potsible, chaimenshi: la vKriouE; o2! the Aore im?ortant cities, simply to carry on e,-,rk which will be laid out fc,r theil, by the national eorittee. The scope of the itor i6 described in the enolossd p:emors.adum. ycu ut r,, ,:rmqoAtative me,;" :,reforably bmnkera, who ni/ht be willing to 4QC,624, mot tLen L tb its of AtLint, BirtinghaN, Nashville and New Orlearla. At tha ,reseat tile i snail only 6.sk yo-4 to 6uest naiAss, but lr.ter on possibly you would be willing to comninionte rtIth them directly Ind forthar our object of having them aooept these auvintmente. If for any reason you think: it unwies to make he ug4esti3ns,wi11 you not write Te quite frankly and, if you are willing to do so, give me your reasops. With uest regards, and thanking you very'oordially, Iala, :fours very truly, B. Wellborn, Esq.., Governor, Federal Reserve Bank of Atlanta, Atlf:ata, Ga. BS:MU en o. FEDERAL RESERVE BANK 0 OFFICE OF GOVERNOR June 27, 1922. Ur. Benjamin Strong, Governor, Federal Reserve Bank, New York, N.Y. Dear Governor Strong:- With reference to your letter of June ast I mired you this morning that, inasmuch as our Board of Directors had on several occasions taken a stand in favor of our Bank's being reimbursed for Fiscal Agency expenses, before going any further, I would wait until the next meeting of the Board in July, at which time I would place your letter before them. A member of our Executive Committee today asked me whether I had made a formal request to be reimbursed for Fiscal Agency expenses. As I had only written to the Secretary of the Treasury, enclosing an estimate of Fiscal Agency expenses for the six months period ending December 31, 1922, I presumed from your letter that such action on my part had not been construed as constituting a "formal request." Therefore, in accordance with the desire of our Beard of Directors, I have today addressed a formal request through the Secretary to the Treasury for such reimbursement. I consider that you are due this explanation from me of the course the natter has taken since your letter brought it to ray attention. Very truly yvmrs4 Governor. 4 103W/ff. FEDERAL RESERVE BANK c)v ATWPA OFFICE OF CA,TE RNO. June 27, 1922. .s Mr. Benjamin Strang, Governor, Federal Reserve Bank, New York, N.Y. Dear Gdrernor Strong:- With reference to your letter of June 2/st I wired you this morning that, inasmuch as our Board of Directors had an several occasions taken a stand in favor of our Bank's being reimbursed for Fiscal Agency expenses, before going any further, I would wait until the next meeting of the Board in July, at which time I would place your letter before them. A. member of our Executive Committee today asked me whether I had made a formal request to be reimbursed for FisAs I had only written to the Secretary cal Agency expenses. of the Treasury, enclosing an estimate of Fiscal Agency expenses for the six months period ending December 31, 1922, I presumed from your letter that such action an my part had not been construed as constituting a "formal request." Therefore, in accordance with the desire of our Board of Directors, I have today addressed a formal request through the Secretary to the Treasury for such reimbursement. I consider that you are due this explanation from me of the course the matter has taken since your letter brought it to my attention. Very truly yours4 Governer. CW.OLVOL0 at.% up,aurTLe / lcullygot. ' pc, Tro0WC!as. er..' 0OflLR 'ACP! 111.0 c' .411. r 7,M ' 44 :cx .1 (eS.)- 7."71",117r.. Ve0C0 :3. Aft. t,* .7tk,k,>7 ,roc;LI1L e. 'Tho..44* 1:12ele e" .r r, , o*0 4 411-, 4,1 f Iotr' axecToLtry reso.;447 .14. pv(1,/zTv ?rtouel A A ptan, arbrvu14.7on FEDERAL RESERVE, BANK CIOF OFFICE OF August 3, 1922. Mr. Benjamin Strong, Governor, Federal Reserve Bank, New York, N.Y. Dear Governor Strong:- I desire to acknowledge receipt of your letter of July 26th, relative to your talk with the Comptroller on the subject of the expense of reports of examination Of national banks, and the method of custody and safeguarding of those reports. I note that the matter will be more fully discussed at a subsequent conference between the Comptroller and the Governors of the nearby Reserve Banks, and that I will be advised of any action that is taken. Thanking you for this information, I am Very truly yours, X)/z/V\LI2A2f4-,f, Governor. 17. CLASS OF SERVICE DESIRED Telegram Day Letter WESTE02SNA UNION TELszt evr7 AM cc"- Form 12064A Receiver's No. WESTERN UNION Night Message tht Letter should mark an X oppo,.., class of service desired; OTHERWISE THE MESSAGE WILL BE TRANSMITTED AS A . ._ FULL-RATE TELEGRAM NEWCOMB CARLTON, PRESIDENT GEORGE W. E. ATKINS, FIRST VICE-PRESIDENT Send the following message, subject to the terms onlack hereof, which are hereby agreed to -751 '016, 6:.-1-Ca7)A LJJh Ma41A4 rjt-y-4 t GCN) L (4... ti-V;244'./0 O. frirE DIA) 17.0 77:1, Check Time Filed Form !. SERVICE DESIRED elegram Day Letter WESTELikriAr UNION TELIk\--flft AM 1 06.1. Receiver's No. WESTERN UNION Night Message `'Ight Letter should mark an X oppo,,.. ie class of service desired; 'OTHERWISE THE MESSAGE WILL BE TRANSMITTED AS A 1- FULL-RATE TELEGRAM NEWCOMB CARLTON. PRESIDENT Check Time Filed GEORGE W. E. ATKINS. 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