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CIRCULAR NO. 230

FEDERAL RESERVE BANK
OF N E W YORK
GOVERNMENT BOND DEPARTMENT

December 6, 1919

EXCHANGE OF TEMPORARY 4 % AND \\i%

COUPON LIBERTY BONDS

FOR PERMANENT BONDS.

T o ALL BANKS, T R U S T COMPANIES AND SAVINGS BANKS
IN THE SECOND F E D E R A L R E S E R V E DISTRICT,

D E A R SIRS :

There is being forwarded to you under separate cover a "Notice to Owners of Liberty
Bonds" giving information in regard to the exchange of temporary Liberty Loan coupon bonds
for permanent bonds in coupon form.
As this notice contains information of value to many of your customers and furnishes an
answer to questions which would otherwise be directed to your tellers, you will doubtless wish to
have it posted in a prominent place in your bank.
Treasury Department Circular No. 164, to be issued shortly, will give complete information concerning the exchange of these temporary bonds for permanent bonds in coupon or registered form.




Yours very truly,
B E N J . STRONG,

Governor.