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FEDERAL RESERVE BANK
OF NEW YORK

I" Circular No. 568 1
I August 31, 1923 J

Cash Department

New Counterfeit $20 Federal Reserve Note
To all Banks, Trust Companies and Savings Banks
in the Second Federal Reserve District:

The Treasury Department in its circular letter No. 526 describes a new counterfeit
Federal Reserve note as follows:
"On the Federal Reserve Bank of San Francisco, California; check letter
' C ; plate No. 55; Carter Glass, Secretary of the Treasury; John Burke,
Treasurer of the United States; portrait of Cleveland.
"This is photographic production on two pieces of paper, between which
silk threads have been distributed, and the work is so poor, especially in the
portrait of Cleveland, that a detailed description of its defects is deemed unnecessary.

It should be readily detected.

The specimen at hand bears No.

L7089584A."




Very truly yours,
BENJ. STRONG,

Governor

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