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CIRCULAR N O . 105.
FEDERAL RESERVE BANK
OF N E W YORK
N E W Y O R K , J u n e 8,
1918.
N A T I O N A L WAR SAVINGS CAMPAIGN
T o THE P R E S I D E N T ,
SIR:
At the request of the Treasury D e p a r t m e n t and the Federal Reserve Board, we are writing
to invite your attention to the importance of the work of the W a r Savings Organization, and to
urge upon you the necessity for even greater cooperation and service with this branch of the
Government's economic and fiscal programmes.
It is of vital importance t h a t the principles of economy and thrift and the necessity for
insuring to the Government the benefit of labor and materials released by personal individual
sacrifices shall be brought home to our citizens through the influence of the banks and other
leading institutions in the various communities.
T h e banks especially are in a position to take an important part in this movement, being
identified, as they are, in the public mind as the agencies through which the Government's financial requirements are being met by the people. They can also wield a very potent influence in
the actual starting of systematic savings, which will undoubtedly result in direct benefits to the
communities, as well as to the banks themselves.
Two great agencies have been established for the distribution of W a r Savings Stamps and
Certificates and to assist in the campaign, — the banks and the Post Offices. Each must do its
full share. T h e full share of a banking institution is not done when persons are referred by it to
the Post Offices or postal authorities. This is especially true in view of the fact t h a t the W a r
Savings Certificates and Thrift Stamps can be obtained from this bank by any banking institution in our district for cash or on consignment against the pledge of Government bonds as collateral
security.
For these reasons we ask you to support the W7ar Savings movement with the same cordiality and patriotic spirit which you have manifested in the various Liberty Loan campaigns, and
t h a t you render such aid, not only by carrying the W a r Savings Stamps and advertising them for
sale on your premises, but also by assisting, wherever practicable, in the W a r Savings Organization established, or to be established, in your community.
As you are doubtless aware, there is to be made this month a special drive, to culminate
on J u n e 28th, for the purpose of obtaining pledges in support of the movement, in accordance with
the President's W a r Savings Proclamation of M a y 29th, and we earnestly hope t h a t you will
take an active p a r t in this campaign.
W e enclose herewith copy of Resolution and Pledge Agreement to be used should you desire to qualify as an agent of the Second Class for the sale of War-Savings and Thrift Stamps.
Very truly yours,
B E N J A M I N STRONG,
Governor.
G D.3C
(FORM 1021.)
PLEDGE AGREEMENT.
To the Federal Reserve Bank of New
York,
as Fiscal Ac,ent of the United States.
The undersigned desires to become an agent of the second class for the issue and sale of War-Savings Certificates, War-Savings Certificate Stamps, and Thrift Stamps, in accordance with the respective provisions of Treasury
Department Circular Nos. 94 and 95, and to obtain, from time to time, for sale to the public, as provided in such
circulars, War-Savings Certificate Stamps, in excess of $1,000 (maturity value), and Thrift Stamps, in the aggregate
total amount of $
(such War-Savings Certificate Stamps to be taken, at the December, 1918, issue price
and such Thrift Stamps, at 25 cents each), and, as and when such stamps shall be sold and accounted and paid for, to
obtain in lieu thereof, from time to time thereafter, additional War-Savings Certificate Stamps (at such December,
1918, issue price) and Thrift Stamps (at 25 cents each) up to but not exceeding, at any one time, the total amount
stated above.
The undersigned hereby agrees that none of such stamps obtained by the undersigned shall be sold or disposed
of otherwise than as provided in such circulars, or either of them, and further agrees faithfully to perform all other
obligations to be performed by agents of the second class, as therein and herein provided.
The undersigned agrees, in accordance with the provisions of Treasury Department Circular No. 95, before or
upon the delivery to the undersigned of War-Savings Certificate Stamps and Thrift Stamps, in the aggregate total
amount stated above, to deliver to such Federal Reserve Bank (or to a custodian designated by it), and to pledge
with such Federal Reserve Bank, in negotiable form, and, in the case of coupon bonds with all unmatured coupons
attached,
$
$
$
$
$
, face amount, of United States bonds of the First Liberty Loan;
, face amount, of United States bonds of the First Liberty Loan Converted;
, face amount, of United States bonds of the Second Liberty Loan;
, face amount, of United States certificates of indebtedness;
, face amount, of securities described in Treasury Department Circular No. 92, which may
be deposited and pledged as provided in Treasury Department Circular No. 95, and which
are specified in Schedule A, hereto attached;
Total, $
;
to be held by such Federal Reserve Bank, as Fiscal Agent of the United States, as collateral security for the faithful performance of the obligation of the undersigned, now or hereafter from time to time arising as an agent of the second
class for the issue and sale of War-Savings Certificates, War-Savings Certificate Stamps, and Thrift Stamps, in accordance with the respective provisions of Treasury Department Circulars Nos. 94 and 95, and of any supplemental or
amendatory regulations made from time to time as therein provided; the undersigned, however, so long as not in default hereunder to be entitled to collect from time to time and to retain any and all interest upon such collateral
security.
In case the undersigned shall make any default in the faithful performance, as provided above, of each and every
obligation of the undersigned as such agent of the second class, such collateral security may be sold, in whole or in
part, at one time or from time to time, at public or private sale, with or without notice to the undersigned, either as
to the time or place of any such sale or sales, or otherwise, and the proceeds of any such sale or sales shall be applied
to make good any loss or damage sustained by the United States by reason of any such default or defaults (the amount
thereof to be conclusively determined by the Secretary of the Treasury) and the balance of such proceeds, if any,
after satisfying and making good any such loss or damage, and after payment of any and all expenses connected with
any such sale or sales, shall, in such case, be paid over to the undersigned.
Upon delivery to the undersigned of any War-Savings Certificate Stamps or Thrift Stamps, desired to be obtained
hereunder, this Pledge Agreement shall become binding upon the undersigned, who shall thereupon become an agent
of the second class.
Dated,
,191....
Signature in full
by
(Authorized signature required.)
Address, number and street
City or town
County
State
(5)
(After executing, kindly return to Federal Reserve Bank, 50 Wall St., Now York)
<'.D.
35
(FORM 1022.)
RESOLUTIONS AUTHORIZING PLEDGE AGREEMENT.
( trustees )
I hereby certify that the following resolutions were duly adopted at a meeting of the board of ]
V of
( directors J
C association )
thej
> named below, which meeting was duly called and duly held on the
day of
191
( corporation )
a quorum being present, and that said resolutions were spread upon the minutes of said meeting and remain in full
force and effect.
Resolved, That in accordance with the respective provisions of Treasury Department Circular No. 94 (War-Savings
Circular No. 1), dated November 15,1917, and of Treasury Department Circular No. 95 (War-Savings Circular No. 2),
f association 1
dated November 30, 1917
,
of this^
V, be and he hereby
(Name)
(Title of Officers)
I corporation J
( on behalf of this corporation;
)
is authorized and directed,
( as the legally authorized representative of this association; J
(1) To execute and deliver to the Federal Reserve Bank of New York a Pledge Agreement, a copy of which
is hereto annexed, in order to obtain from said Federal Reserve Bank, from time to time, an aggregate amount of
War-Savings Certificate Stamps, taken at the December, 1918, issue price, plus an aggregate amount of United
States Thrift Stamps, at 25 cents each, aggregating up to, but not in excess of, $
, at any one time, not
theretofore sold, and accounted and paid for, as provided in such Pledge Agreement; and
(2) To assign to, and to pledge with, said Federal Reserve Bank, as Fiscal Agent of the United States, securities
f corporation ]
owned by this i
.
f of the character and amount required by said Treasury Department Circular No. 95
(association J
(War-Savings Circular No. 2). as specified in said Pledge Agreement, as collateral security for the faithful performj this corporation
1
ance of each and every obligation of < said
as the legally author- > as an agent of the second class,
( ized representative of this association
)
as provided in said Pledge Agreement; and further
Resolved, That said Federal Reserve Bank be and it hereby is authorized and requested to deliver War-Savings
Certificates War-Savings Certificate Stamps. Thrift Stamps, and Thrift Cards, as specified in such Pledge Agreement,
to
(Name)
(Title of officer)
, , . f corporation, on behalf of this corporation,
)
of this -{
'•• and from time to time to permit said
( association, ias the legally authorized representative of this association )
to withdraw securities and to substitute other securities and to deposit and pledge additional
securities, all as provided in Treasury Department Circulars Nos. 94 and 95; and further
(the
, or any assistant
, of this corporation,)
Resolved, That-j
Vbe and he hereby
(
, as the legally authorized representative of this association, J
is authorized and directed, from time to time, to render accounts and to cause payments to be made to said Federal
Reserve Bank, as Fiscal Agent of the United States, as required by Treasury Department Circular No. 95.
In witness whereof, I,
of
, have hereunto signed
(Title of officer)
my name and affixed the seal of
(Name of corporation or association)
this
day of
(6)
(File with Federal Reserve Bank, 50 Wall Street, New York)
191
@FedFRASER