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FEDERAL RESERVE BANK O F N E W YORK Fiscal Agent of the United States r Circular No. 3 2 5 6 ~ 1 L September 9, 1947 J Letter from the Secretary of the Treasury Regarding the Reporting of Large and Unusual Currency Transactions To Financial Institutions in the Second Federal Reserve D istrict: At the request of the Treasury Department we are sending to you herewith a copy of a letter, dated August 11, 1947, from the Secretary of the Treasury to the bankers of the United States thanking them for their cooperation in connection with the Treasury’s currency reporting program and urging their continued support of the Treasury’s efforts to enforce the revenue laws. Although it is addressed only to bankers, it is felt that the letter will be of interest to all financial institutions which are submitting reports on “ Form TCR-1: Report of Currency Transactions.” A llan S proul, P resident. THE SECRETARY OF THE TREASURY WASHINGTON A u g u st 11, 1947 To the Bankers of the United States: A m o n g the m any services w hich the bankers o f the U nited States have p erform ed fo r the T reasu ry durin g the recent critical years, o f first im portance has been the reporting o f large and unusual currency transactions, a requirement instituted in connection with the drive against tax evasion. T h e Bureau o f Internal Revenue recently surveyed its field offices to determ ine the real w orth o f the program . T h e results proved the program to be such a valuable approach to the collection o f the revenues that I felt each o f you should know o f its success. I, therefore, want to thank you fo r the fine cooperation w hich has been extended the T reasu ry in this matter and to urge you to continue y ou r support o f our efiforts to en force the revenue laws. Sincerely, Jo h n W . S nyder