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e047 itk,, AEI tl st4Lie /42 ffi Cr°2 LitivtN JUG FEDERAL 191',) 3, 1919. 23 Bannue :Tationale de Belgique, Brussels, Belr,_Tiam. Sirs: Fly departure for ::urope, which was origin lly set for the 1st of July, has been postponed on account of derangement in the srAline; sehodule of the White Star Line cmse by 1:-1 or troubles at Liverpool. I nau expect to sail for Esyland on tho Baltic the 12th in- stant, and an looking forward with pleastre to w visit to Brussels in the near future. Sincerely yours, COPY OF CABLEGRAM Brussels, July 9, 1919. Federal Reserve Bank, New York In accordance with instructions received from Hoover we inform you that lot consists of twenty nine thousand bags of twenty mark gold pieces Stop We weighed at first nine hundred bags- they are above the tolerance, i.e. 7.925 grams per piece, or 3 kilos, 9625 grams per bag of 500 pieces, that is, ten thousand marks Stop Twenty other bags taken at random give weight in accordance with inscriptions on label Stop From forty bags we have taken a hundred and twenty pieces to weigh individually; thirteen pieces fall below the extreme limit of light weight, being 7917; 79185; 7924; 7901; 7922; 7919; 7916;7905; 7921; 7923; 7914; 7922; 7921. appearance of coming probably out of circulation. Stop The gold has the Assuming an average weight of 7.9451 grams fourteen million, five hundred thousand pieces equal 115203 kilos, 950 grams, or at a fineness of 900, a pure gold weight of 103,683. kilos, 555 grams, or 3,333,501.7 ounces, that is at the rate of 40.671.834.62 per ounce Troy fine, 468,909,595.8 National Bank of Belgium. ,COPY OF CABLEGRAM a New York, Banque Nationale Belgique, Brussels, Belgium Your cable giving results of examination of gold received and examination is satisfactory to us Stop We have sent you through Treasury Representative Paris instructions for confirmatory cable Stop Hereafter on direct cables to us please address Fedreserve Newyork Federal Reserve Bank JUly 14, REGISTERED Confidential Bank of England, London, E. C. 2 July 2- 1991 NATIONAL BANK OF BELGIUM, Brussels Planning to reach Brussels early next week definitely later stop stop Will telegraph Please hold any mail or cables until my arrival. STRONG, Governor Federal Reserve Bank BENJAMIN STRONG, ";umero 12, July 31, 1919 BANQA NATIONALE DE BELGIQUE Brussels Monday. Au planning to arrive Brussels Would greatly possible at Astoria Hotel. reserving accommodations if a:preciate your officer and Kent, my secretary and myself, an army Party consists of chauffeur, fly* in all. Kindly reply Hotel Ritz, Paris. Reserve Bunk BENJAMIN STRONG, Governor Federal Benjamin Strong, Room 12, 4 V Hotel Ritz, r a.ris, :eigust 16, 1919. Gentlemen: Owing to rey proposed absence of a few weeks, I find it neceswho will present this letter, all are rangements in regard to the shipping of goad to the Bank of Enelend. sary to entrust to 'Va.. It Is of course u.derstood thet the BEsk of englaad is to actually take charge of the shipments, and I do not wish in any way eo alter the arrangement in VI:et regard. revertheless, Yr. Kent will be In commtnication with the Federal Reserve Bank of New York, of which he is still acting. as Deputy Govto facilitate ernor, and I would greatly epixeciate your en else , in every way the carrying out of the arrangements covered by my written inetructlons to you of this date. Mr. rent has his own code and check words to the Federal Reserve B :nk to enable him to conduct ceble corresiondenoe exactly as I have done and he is likewise thor:ughly f:entliar with the details of the transaction. Faithfully yours, La Banque Nationale de Pelgiene, Brussels, Belgium. B3 /Y Hotel Ritz, Paris, August 16, 1919. PERSINAL Dear Monsieur Van der Rest: Vy unexpected trip to Constantinople makes it necessary for me to entrust the handling of the shipment of gold for arrangement by the Bank of England with your good institution, and I am only now able to send you this brief line expressing my deep appreciation of your many courtesies when I was in Brussels. There is enclosed with this an official letter addressed to you, in relation to the shipment of the gold, and I am sure that the Bank of Magland and Ur. Kent will arrange matters to your entire satisfaction. Any further details requiring adjustment can be dealt with on my return. Sincerely yours, ronsieur Leon Van der Rest, Governor the Banoue Nationale de Belgique, Brussels, Belgium. BS /P S Yotel aris, eugust 1 ?, 1919. My dear Governor: %.114 In my letter of yesterday I omitted to refer to the expense Incurred in coneectIon with the movement of 20O,OW,Cf0 marks of gold to London and the custody of the 91,Ineenll marks Which for the present we are proposing to leave for safekeeping in the custody of the Banque Nationale de Belgique. It is understood that all expense and outlay incurred by the Banque Nationale will be reimbursed by the Federal 7easerve Bank whenever the amount is escertalned. As to the 91,000,DU marks to remain for safekeeping in your custody, it is eederstood that no fee will be charged for safekeeping, and, on the other aced, thet for similar services rendered to- the Banque llatlonale de Belgique by the Federal 2eserve Bank, no fee will likewise be charged. It Ls important that I should have a statement of the actual expense inourred in movinu the 2oo,000,oln marks, es promptly as possible, which will loutlees to es soon as all the god is shipped. It is likewise important that I should have a statement of any expenee incurred In the actunl count, verification and weighing of the 91,1M1')'. marks loft for safekeeping. I would be pleased to receive a statement, addressed to me La care of 7,!essrs. Forgan, Harjes Company, Place Vendome, :arts, at yOur convenierce. reantime, with assurance of my esteem, I beg to remain, Faithfully yours, Monsieur Leon Van der Rest, Governor La Banque Nationale de Belgium, Brussels, Belgium. B51V Brussels Belgium AMERICAN LEGATION Following message for Banque Nationale de Belgique from Benjamin Strong Governor Federal Reserve Bank of New York August twentieth Am advised 470U* by Treasury Department of United States that they desire to transfer sufficient amount of German gold marks to make a payment of ten million dollars in Paris and have asked me to arrange the matter stop German gold coin should be shipped to and will be accepted by the Bank of France on basis of eight ninety nine point four and amount to be shipped should produce ten million dollar.) fine gold value figuring German coin at the rate named stop Would Banque Nationale de Belgique undertake to make this shipment for account of Federal Reserve Bank making all arrangements for insurance in accordance with instructions to be furnished later. stop Can you also advise probable entire cost of packing transportation and insurance from Brussels to Paris and length of time required to carevaete shipment after notice reaches you stop If gold is Shipped the Federal Reserve Bank will make correspondin,-, reduction in amount to be shipped to London stop reply promptly through American Legation Brussels stop Kindly Am confirming by mail BENJAMIN STRONG Governor Federal Reserve Bank New York Hotel Ritz, Paris, August 23, 1919, deur Mr. Governor: Since 'train& you in regard to the shipment ol gold to London, I am in receipt of advises to tho effect that it may be necJsoary to ehip sor,e part of the gold which you ure good cnot4gh to hold for the Federal Reserve Bank of New York, to Paris. In the absence of final advices from America, I um writing is say that the shipment ahould 7;roceed as originally arranged, that is, for a total of 20,C0,00(") marks, leaving marks in the hands of the Banque Nationale Oe Belgique, which is to be exactly counted, weighed and valued, but in case a shipment to Paris becomes necessary I shall notify you by telegrar,h through the American Legation in Brussels exactly how much it will be necessary to ship. I am grateful to you for your courtesy in this matter uad be remain, Faithfully yours, Monsieur Leon Van der Rest, Governor, La Banque Nationale de Belgique, Brussels. 133/V to D. B. 40 Brussels, August 23, 1919. No. 17426 Dear Sir: I have the honor to acknowledge receipt of your letter of the 20th instant, enclosing copy of a telegram which you had forwarded to me through the American Legation at Brussels. The National Bank of Belgium would willingly undertake to send to the Bank of France the sum of 310,000,000 in gold marks. If our calculations are exact, it would be necessary to send 2,103,835 pieces of gainlxmaxkxx 20-mark gold pieces. Here is the method by which we arrive at this amount: 1 20-mark piece gold weighs 7,965 grams. 7,965 grams at 899,1+0 = 7,16572 grams. 7,16372 grams at the price of francs 3437 = francs 24,6217. The monetary par of the dollar = 5,18. Dollars 10,000,000 = francs 51,800,000. It will therefore be necessary to send: '1,800.000 = 2,103,835 20-mark pieces, 24,6217 or 42,076,700 marks gold. Will you be kind enough to inform us of your agreement upon this point. a.. We could also undertake to cause this shipment to be insured in accordance with instructions which you might give us later. It would be very difficult, if not impossible, for us to fix even approximately the amount of charges for packing, transportation and insurance. As for the length of time required for the shipment, it would also be very difficult for us to determine this matter for you in advance. It is to be especially noted that we do not have the special boxes which are indispensable for the shipment in question and we have no idea how long it would take to manufacture them. Perhaps it would be more practicable to ask the Bank of England or the Bank of France to place the necessary number of boxes at your disposal. It is noted that the gold which would be forwarded to Paris would be deducted from the shipment of gold to be made to London. Again renewing the assurance of my esteem, THE GOVERNOR L. VAN DER REST TELEGRAM Paris, August 26, 1919. Governor Leon Van Der Rest L.k Banque Nationale de Belgique Brussels, Belgium Thank you for your advices of August twety eighth stop It now seems unlikely that any shipment to Paris will be necessary as mentioned in my letter of August twentieth. STRONG 1 Hotel Ritz, Faris, Auguct It deur Stonrieur 7:..21 der 'Rest: A eWil dint rocoIved rren t Yr, 2, 109. ci oclor_i Rez:orvo Bunk of New York indicates that it may be necessary to shi,: all the _scdd fl')' inetlitution f'ir T ir 1,no7 Ly rmr ;iii roLably be WednanJay cf next 1 Se.,tembor, r11,-41 cixct to h!).,7,1 re,!fived a ftrther cable frorP. Should ny cable., or mail ..A.drszeed to %le ill your cz rive befr.re I reach 2ruzsols, nay I ask you to be L;ood onoul;b to hold the= until ry arrival. nithrull7 pure, Monsieur Leon Van ear %apt, Gouveri,oar, Mation.,le Brussels. BS/V 4 "total Ritz, London, September 8, 1919. My dear Mr. Governors low As I advised Mr. Janssen and Mr. Hankar when I was last in your office would probably be the case, the Federal Reserve Bunk he decided to ship the entire amount of gold which you now hold for our account, to London, although I had hoped that it would be -i-Jossible to leave some part of it for safekeejng in your hunds in case at a later date it proved to to desirable to use some part of it on the Continent. The reasons for this I ex7lained to Mr. Janssen and Mr. Runkar. The Bunk of England has been advised of this decision and requested to give the necessary instructions to their re,resentatives who are now in Brussels, of which you will no doubt be advised. Again with many thanks for your courtesy in this matter and for your many kindnesses to when I Wa8 in Brussels, I be to re uin, Faithfully yours, Monsieur Leon Van der Rest, Gouverneur, La Bunque Nationale de Belgique, Brussels. BS/V