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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


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102