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e d e r a l

r e s e r v e

b a n k


Dallas, Texas, September 19, 1951


To the Member Banks in the
Eleventh Federal Reserve D istrict:

The Treasury Department has informed us of the extreme difficulty
the United States Mints are experiencing in meeting unprecedented de­
mands throughout the Nation for coins of all denominations. Despite an
accelerated work program by the Mints, our supply of some denominations
is very limited.
We understand that the production of coin in the immediate future
will be restricted by curtailment in the copper supply allotted to the Mints
by the National Production Authority, as well as by possible delays in
deliveries occasioned by the current unsettlement in the industry. These
developments point to the probability that for the time being the Treasury
still will be unable to supply coins to the Reserve Banks in normal quan­
We shall appreciate it, if you will bring to the attention of your cus­
tomers the reasons for the coin shortage and solicit their cooperation in
returning to circulation all coin in excess of their reasonable needs.
It will be helpful in dealing with this situation if your bank will ship
to us or our branches at El Paso, Houston, and San Antonio from time to
time at our expense, any excess accumulation of coin.
Yours very truly,

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