Full text of Federal Reserve Bank of New York Circulars : 329. Transactions with Bolshevik Russia

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FEDERAL RESERVE BANK
OF N E W YORK

[Circular No. 329]
[December21,1920j

Foreign Department

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Transactions with Bolshevik Russia
To all Banks and Trust Companies and Others Concerned
in the Second Federal Reserve District:

T h e following announcement, which we submit herewith for your guidance, was
issued by the Treasury Department yesterday:
" T h e Secretary of the Treasury and the Federal Reserve Board announce
t h a t , with the approval of the Department of State, and in order to give force
and effect to the action of t h a t department in removing restrictions in the way
of trade and communication with Soviet Russia, as announced by t h a t department on July 7, 1920, all rules and regulations restricting the exportation of
coin, bullion and currency to t h a t part of Russia now under the control of the
so-called Bolshevik Government, or restricting dealings or exchange transactions
in R7issian rubles, or restricting transfers of credit or exchange transactions with
t h a t p a r t of Russia now under the control of the so-called Bolshevik Government, have been suspended, effective December 18, 1920, until further notice."




Very truly yours,
J.

H.

CASE,

Acting Governor