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FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, April 15, 1930. CANADIAN CURRENCY To Member Bank Addressed: Enclosed herewith is a statement which the Federal Reserve Board and the Federal reserve banks and branches have given to the press, relat ing to the conversion into United States funds of Canadian paper currency spent in this country. In accordance with this statement, you may include Canadian paper currency in your shipments of United States currency provided the two kinds of currency are properly segregated within the package. Credit for such currency will be given for its face value and when the cost of conversion into United States funds is determined it will be charged to your reserve account. As brought out in the accompanying press state ment, the average cost during the past three years of converting Canadian paper currency into United States funds, including both exchange and shipping charges, has averaged less than 1 per cent. Yours very truly, Governor. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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