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FEDERAL RESERVE BANK
OF NEW YORK
rCircular No. 2 7 2 3 "1
k November 9, 1943 J

A CALL FOR PENNIES
Better Distribution Requested by the Treasury Department

To all Banking Institutions
in the Second Federal Reserve

District:

While more pennies are in existence today than ever before, it is important that
a better distribution be effected. Because our supply of pennies has been greatly
limited w,e have been unable to meet the requests of member banks and others for
pennies and the available supply has been apportioned under an informal rationing
system. Many banks throughout the District have in turn been unable to meet the
requests of their own customers and have found it necessary to restrict the distribution of pennies to them.
In order to effect a better distribution of pennies to meet the needs of banking
and business, we shall appreciate your sending us all pennies in excess of your absolute needs, and your urging both your customers and your employees to return their
coin savings to circulation as promptly as possible. The cooperation of banks, businesses and individuals in this respect will help in meeting the needs of business and,
by lessening the demand for new coins, will ease the production strain on the mints.
Pennies may be sent to us by express collect.




ALLAN

SPEOUL,

President.

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