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U n it e d S t a t e s T r e a s u r y W a r F in a n c e C o m m it t e e E L E V E N TH F E D E R A L R E SER VE D IS TR IC T F ed er al R eserve B a n k B u il d in g D A L L A S, T E X A S WAR SAVINGS STAFF VICTORY FUND COMMITTEE March 20,1948 To All Members of the Victory Fund Committee and War Savings Staff County Chairmen in the Eleventh Federal Reserve District The War Finance Committee of the Eleventh Federal Reserve District was named in Dallas on March 12 by R. R. Gilbert, President of the Federal Reserve Bank of Dallas, who was designated as its chairman pursuant to the request of the Secretary of the Treasury. The committee is composed of the following members of the Victory Fund Committee and War Savings Staff State Administrators or their representatives: Nathan Adams—President, First National Bank, Dallas, Texas Co-Chairman Dallas Regional Victory Fund Committee Judson S. James, Jr.— Dallas, Texas, Executive Manager Victory Fund Committee, Eleventh Federal Reserve District W. Russell Barrow—Barrow, Leary & Co., Shreve port, Louisiana Co-Chairman Shreveport Regional Victory Fund Committee F. M. Law— President, First National Bank, Houston, Texas Co-Chairman, Houston Regional Victory Fund Committee C. N. Bassett—President, State National Bank, El Paso, Texas Chairman El Paso Regional Victory Fund Committee C. C. McClung— McClung & Knickerbocker, Houston, Texas Co-Chairman, Houston Regional Victory Fund Committee George E. Benson—Vice Pres., Citizens National Bank, Lubbock, Texas Vice Chairman Amarillo Regional Victory Fund Committee Emory A. Nielsen—Albuquerque, New Mexico, Deputy State Administrator War Savings Staff, State of New Mexico James P. Boyle— Tucson, Arizona State Chairman, War Savings Staff, State of Arizona Tom H. Obenchain— President, Dallas Union Trust Company, Dallas, Texas Co-Chairman, Dallas Regional Victory Fund Committee Fred F. Florence—President, Republic National Bank, Dallas, Texas Co-Chairman Dallas Regional Victory Fund Committee A. E. Robertson— Dewar, Robertson & Pancoast, San Antonio, Texas Co-Chairman, San Antonio Regional Victory Fund Committee Joe H. Frost—President, Frost National Bank, San Antonio, Texas Co-Chairman San Antonio Regional Victory Fund Committee Frank Scofield—Austin, Texas, State Admini strator War Savings Staff, State of Texas (Also rep resenting Oklahoma War Savings Staff) R. R. Gilbert— President, Federal Reserve Bank of Dallas Chairman, Victory Fund Committee, Eleventh Federal Reserve District Wm. P. Smallwood— Smallwood & Company, Ft. Worth, Texas Co-Chairman, Ft. Worth Regional Victory Fund Committee R. E. Harding—President, Ft. Worth National Bank, Ft. Worth, Texas Co-Chairman Ft. Worth Regional Victory Fund Committee C. W. Stephenson— New Orleans, Louisiana, Deputy State Administrator War Savings Staff, State of Louisiana Walter B. Jacobs—President, First National Bank, Shreveport, Louisiana Co-Chairman Shreveport Regional Victory Committee Charles T. Ware—President, Amarillo National Bank, Amarillo, Texas Chairman, Amarillo Regional Victory Fund Committee > This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) As you have been advised, the War Finance Committee is being created for the purpose of coordinat ing the efforts of the Victory Fund Committee and the War Savings Staff organization for the Second War Loan drive which opens on April 12th. By direction of the Secretary of the Treasury all members of both groups are to sell all securities offered in the April campaign: Series E War Savings Bonds, Series F and G Savings Bonds, Series C Tax Notes, as well as the current offerings of % % Certificates of Indebtedness, 2% Treasury Bonds of 1950-52, and 2 ^ % Treasury Bonds of 1964-69. We are very optimistic as to the possibilities afforded by combining the experience and manpower of these two organizations, each of which has ably demonstrated its ability to perform in the field of selling U. S. Government securities in the past. We know that the District is to be assigned a quota, which in turn will be divided into county quotas. Undoubtedly these quotas will be a challenge to all of us. The War Finance Committee of this District suggested that a War Finance Committee chair man be named in each county by the present county chairman of the Victory Fund Committee and the present county chairman of the War Savings Staff. This chairman will then be responsible for directing all activities of his county during the Second War Loan drive. The nucleus of the campaign will be based on personal solicitation of listed prospects. To do the work effectively will involve calling on a large portion of the population. Not only must the money be raised to prosecute the war, but the greatest possible amount of it must be secured from non-banking pur chasers to avoid the creation of additional deposits which causes increased purchasing power and intensi fies the problem of inflation. The publicity program for the campaign for this District will be formulated under my supervision. This will include the adaptation of national publicity to the District and the suggestion of a pattern for local publicity. Mr. Stanley W. Foran will serve as Publicity Director. At this point I wish to request that any special local promotional projects which are contemplated for the near future that are not now in progress be timed to coincide with the Second War Loan drive. It is highly important that the con centrated attention of the public be focused on this drive to insure its success. The slogan for the Second War Loan drive is “ They Give Their Lives—You Lend Your Money.” R. R. GILBERT, Chairman, War Finance Committee Eleventh Federal Reserve District.
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