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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal A g e n t o f the U n i t e d States

rClrcular No. 2 7 7 3 1
L March 6, 1944 J

FOREIGN FUNDS CONTROL

To all Baiiks and Trust Companies
in the Second Federal Beserve District:

Reference is made to our Circular No. 2455, dated June 29, 1942, requesting
your cooperation in assisting the Treasury Department in its efforts to prevent the
Axis from realizing upon United States dollar currency which has been looted in
the occupied countries.
The Treasury Department has requested us to express its appreciation for the
whole-hearted cooperation of the banks in reporting large or unusual deposits, and
to advise you that this cooperation has been of substantial assistance in the enforcement of the currency control and the full attainment of its objectives.
Increasing military and economic pressure against the Axis has made it more
and more difficult for our enemies to obtain foreign exchange, with a resultant
increase in their efforts to dispose of looted dollar currency. The Treasury Department welcomes your continued assistance in carefully scrutinizing cases in which
substantial sums of currency are deposited with you by persons other than regular
customers of your institution who ordinarily make such deposits and promptly
reporting such cases to this Federal Reserve Bank as in the past.




ALLAN

SPKOUL,

President.

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