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FEDERAL RESERVE BANK OF CHICAGO GOVERNMENT BOND DEPARTMENT ROOM 361 - 209 So. LA SALLE STREET t:). ADDRESS ALL COMMUNICATIONS RELATIVE TO GOVERNMENT BONDS A. JONl!S , AaaT, CA.aMIER A.H. VOGT, P . 0 . BOX 80!5 ASST , CASHll!:R. Circular No. 148 February 25, 1919. TO THE BANK OR TRUST COMPAl Y .DDRESSED: In view of the fact that almost $800 , 000,000 of Treasury ~ertificates of Indebtedness, seri es T, mature March 15, 1919, there is no reason to anticipate that any tax moneys will be available for re-deposit. In order to avoid money strain and heavy over-draft in the United States Treasurer's account with Federal Reserve Banks on March 15, it is of the utmost importance that tax payers should use their Treasury Certificates of Series T, maturing March 15, 1919, and of the Tax series 1919 , maturing July 15 , 1919 to the ful l est extent possible in payment of their taxes , and should not coll ect their certificates in cash and make paymen·i; ot taxes in cash. It is very desirable that any banks whi ch are the owners of certificates of these two series , should , wherever practicable, dispose of them to their customers, who ar e not a 1ready provided with Tax 0ertificates, so that the latter may make use of them in payment of taxes. Your special attention is called to the fact ·chat only the two issues of Tax Cert ificates ment i oned above may be used in making the tax payment due March 15 . The issue of certifi cates, series T-2, dated January 16 and maturing June 17, 1919 is not app icable on March 15 and cau only be applied in payment of income and profits taxes when payable at or within 60 days before the maturity of the certificate s . It should also be borne in mind that the Tax : ertificates pre sented to the Internal Revenue Col l ector must not be of a greater par value ---than the amount of taxes to be paid. We shall appreciate your bri nging these facts to the attention of -our sub~cribers and also urging upon them the desirability of using Tax Certificates of Indebtedness in making their payment . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FEDERAL RESERVE BANK OF CHICAGO Government Bond Department.
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