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I" Circular No. 263 1
L March 17, 1920 J

Cash Department

New Counterfeit $20 Federal Reserve Note
To all Banks, Trust Companies and Savings Banks
in the Second Federal Reserve Disirict,

The details of a new counterfeit $20 Federal Reserve Note are described by the Secret
Service Division of the Treasury Department in its Circular No. 440 as follows:
"On the Federal Reserve Bank of New York; check letter ' C ; plate number 40;
W. G. McAdoo, Secretary of the Treasury, John Burke, Treasurer of the United States;
portrait of Cleveland.
This counterfeit is printed on two pieces of paper, of good quality between which
silk threads have been distributed.

The face of the bill is a photograph.

of the Treasury number are made by hand, and are well executed.

The figures

The back of the

bill is printed from an etched plate.
This is a dangerous counterfeit, and care should be exercised in handling bills of
this description."
The above information is transmitted to all banking institutions in thisvdistrict for their
information and guidance.

Very truly yours,

Acting Governor.

Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102