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F E D E R A L R E S E R V E BANK
O F NEW YORK
Fiscal Agent of the United States

f Circular No. 2 5 2 1 1
I October 15. 1942 J

TRANSFER OF LIABILITY FOR OUTSTANDING WAR SAVINGS STAMPS

To All Issuing Agents in the Second Federal Reserve
District Qualified for Sale of United States War
Savings Bonds, Series E:

The Treasury Department has requested this bank to advise all issuing
agents in the Second Federal Reserve District qualified for sale of United
States W a r Savings Bonds, Series E, that on September 30, 1942, the
liability for the outstanding W a r Savings Stamps was transferred from
the Postal Savings System to the T r e a s u r y as a public debt obligation,
pursuant to section 5 of the Public Debt Act of 1942, and that the t r a n s f e r
involves no change in the conduct of transactions in the stamps by the
Postal Service. The Treasury has stated that any issuing agents receivingsuch stamps in payment for Series E W a r Savings Bonds should present
the stamps at post offices for cash redemption as heretofore, or, where this
is not feasible, may forward stamps to this bank, at their own risk and
expense, for credit.




ALLAN

SPROUL,

President.

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