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F O R M MJSCL. I 4. (5-t 8-20M- I 476 F E D E R A L R E S ER VE B A N K OF D A L L A S Circular No® 38 Series of 1918® July 239 1918® TO MEMBER BANKS OP THE ELEVENTH FEDERAL RESERVE DISTRICTS For your information I quote below letter received from Honorable W* P. G* Harding, Governor of the Federal Reserve Boards wThe Board regrets to inform you that the supply of One and Two Dollar bills is likely to be inadequate until after August 15th® The statement is made at the office of the Dnited States Treasurer that redemptions must first be provided for, and that after exchanging new bills for unfit notes which are sent in, the balance available for new orders is not sufficient to meet the daily demands. Progress is being made at the Bureau of Engraving and Printing in the preparation of plates for the new Feder al Reserve bank notes in the One and Two Dollar denomina tions, and the Board is informed that the printing of these notes will begin about August 1st, and after August 15th sufficient amounts will be available to satisfy reasonable demands . "It is suggested that you inform your member banks of the situation, and that you caution them to conserve during the next four weeks their supply of small bills as far as possible 9 " It is requested that you give the above your careful at tention and comply with the suggestion contained in the last par agraph as far as is practicable® Very truly yours, This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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