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FEDERAL RESERVE BANK OF N E W YORK r Circular No. 2 9 7 9 "1 t July 2 4 , 1945 J REDEMPTION OF CERTAIN NETHERLANDS CURRENCY To all Banks and Trust Companies in the Second Federal Reserve District: The Netherlands authorities have recently announced that guilder currency notes heretofore issued b y the Netherlands Government or b y D e Nederlandsehe Bank in denominations of 100 guilders have been withdrawn f r o m circulation in the Netherlands as of J u l y 14, 1945, and that similar measures will probably be taken in the future with respect to notes in smaller denominations. Arrangements have been made whereby u p to and including August 4, 1945, guilder currency notes issued prior to J u l y 14, 1945, by the Netherlands Government or D e Nederlandsehe Bank in denominations of 100 guilders or less may be forwarded to the Federal Reserve Bank of New Y o r k f o r account of the Netherlands Government f o r redemption. Such notes should be accompanied b y a written statement, in duplicate, sworn to before a notary public or similar officer, applying f o r redemption of the notes and containing the following information: ( 1 ) The full name, address, nationality and occupation of the applicant. ( 2 ) I f the applicant is not the owner the same particulars should also be given about the owner. ( 3 ) The number and denomination of each note, whether issued by D e Nederlandsehe Bank or t Tetherlands Government, and the total amount of notes deposited. ( 4 ) A f u l l statement of the circumstances under which the notes were acquired, including how, when, where, f r o m whom and f o r what purpose. ( 5 ) "What the applicant knows concerning the circumstances under which the notes were imported into the United States, including the names of the persons participating therein, the date of importation and the date of exportation f r o m the Netherlands, whether or not such exportation was authorized b y the Netherlands Exchange Control and if not so authorized, why not. I f the applicant has no knowledge or information concerning such circumstances he should so state. ( 6 ) That the owner of such notes holds no other Netherlands guilder notes than those listed in such statement and has made no other application f o r redemption. A n y available documentary evidence in support of such statement should be attached thereto. I f such notes were included in a report filed on Treasury Department f o r m No. T F R - 3 0 0 or No. TFR-500, it would be helpful f o r the applicant to state that fact. The Federal Reserve Bank of New Y o r k will receive and hold all such notes f o r account of the Netherlands Government, will give the holder a receipt and will transmit the accompanying statement to the appropriate Netherlands officials. It is our understanding that if the Netherlands authorities are satisfied that the notes are genuine and that they were acquired legitimately the holder will be paid therefor in United States dollars at the rate of $37.38 per 100 guilders. The notes and statements should be sent to Federal Reserve Bank of New York, Foreign Department, Federal Reserve P. O. Station, New Y o r k 7, N. Y . , at the expense and risk of the holder, and they may be sent direct or through the holder's bank. The Federal Reserve Bank of New Y o r k is not authorized to receive any notes after August 4, 1945, unless mailed in an envelope postmarked not later than August 4, 1945, or forwarded by a bank with a statement to the effect that they were received on or before August 4, 1945. The foregoing arrangement does not apply to, and we are not prepared to receive, either ( 1 ) notes in denominations of more than 100 guilders, which we understand were withdrawn f r o m circulation in the Netherlands sometime ago, or ( 2 ) notes of the Netherlands overseas territories of Curacao, Surinam, or the Netherlands East Indies. Additional copies of this circular may be obtained on request. ALLAN SPROUL, President.
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