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Q OFT FEDERAL RESERVE BANK OF DALLAS Jamary 19, 1920. 2o the Member Bmfc Addrease&t la returning to the daily operations of the ban!: following the conclusion of the hearing by our Board la st Saturday, It seems to me not Inappropriate to nuke mm cbservatlom with re ©poet to the re s u lt of the review mat m a undertaken* A d istin c t benefit *fcS0h has accrued from i t , la my judgment , la the additiom l knowledge gained by the bankers in attendance of the policies and principled of the federal Reserve System, as well as the lim itations a a i statu to ry re stric tio n s under which I ts o fficers labor* I t is my feeling th a t the hankers who were hers l e f t Dallas with an increased understanding of the true mission and function of a Federal Reserve Bartc, a circumstance which w ill redound to th is bonk#s welfare long a fte r the d etails of the hearing are forgot ten* An oven greater adpuitage which has come from the occasion than th a t outlined in the fbregoiog paragraph, is the stim ulation Which my associates and 1 have received to bring about closer cooperation and a b e tte r understanding between thle bank and I ts members* Vfnlls £ have cover consciously, by word or ac t, given offense to an o fficer of any mamber bank, i t nevertheless not; seems manifest th at in my seal to f a ir ly and honestly administer the tru st committed to cay hands, and my desire to promote b e tte r banking in the D istric t, occasionally my motives may have been misunderstood and my statements wrongly interpreted* I t is also equally a parent th at the officers of th is bank, notwithstanding the e cellenoe of th e ir intentions, have a t times taken too much fo r granted and faile d to make clear to member b&;Jta the c i r cumstances and retirem en ts which impelled them to take certain aoticnsb 2hs hearing ju st ended has fu lly ju stifie d i t s cost in the incentive which i t has given us to striv e to make transactions with th is In stitu tio n easier and simpler end the inspiration which i t has afforded us to function in ©vm a greater degree In i$& in te re st of our member bajdca whoa© funds co n stitu te the basis of our operations* All of us are g ratefu l for the personal sacrifices the repre sentatives of member banks made who attended one or both of the sosslom* 2heir presence here not only indicated th e ir in te re st in the subject mat te r but also cave aviderco of a deep concern in the welfare of the federal Reserve Bank of Dallas and th e d istrict* Respectfully, zrm p* B i e hiy Covernor* This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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