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FEDERAL RESERVE BANK OF DALLAS December 30,1933. Instructions from Treasury Department in Connection with Order o f Secre tary of Treasury Requiring the Delivery o f Gold Coin, Gold Bullion and Gold Certificates to the Treasurer o f the United States To the Member Bank Addressed: We are advised by the Treasury Department that in order to facilitate imme diate payment for gold coin, gold bullion, and gold certificates delivered under the Secretary of the Treasury’s order of December 28, 1933, member banks are authorized, if they wish, to advance payment to the persons delivering gold coin and gold cer tificates, dollar for dollar, and gold bullion at $20.67 per fine ounce, and Federal reserve banks may credit such member banks such amounts and debit the account o f the Treasurer of the United States upon receipt of advice that the gold coin, gold bullion, and gold certificates are held by the member banks in custody for the United States and are forthwith being delivered to the Federal Reserve Bank to be held in custody for the Treasurer of the United States. Gold coin and gold bullion of doubtful value should be accepted and held in custody for account of the United States and instructions requested o f the Treasurer o f the United States as to its disposition and payment therefor. United States gold coin which is obviously mutilated or below the weight of tolerance allowed by law should be treated as bullion of uncertain value and confirmation should go direct to the Treasurer with request for instructions. Member banks will not, however, be charged on account of any loss for underweight coins on which they advance pay ment in good faith. No specific form will be prescribed for confirmation to Treasurer by member banks. Confirmation will be required only for such deposits as are not paid for by the bank. Such confirmation should give name and address o f depositor; also signature if conveniently obtainable, and state definitely that payment has not been made. 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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