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FED ERAL RESER VE BANK O F NEW YORK F iscal A gen t o f the U nited States r Circular No. 3 8 5 5 "1 I M ay 21, 1952 J TREASURY BILLS Sixth Amendment to Treasury Department Circular No. 418 To all Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: On the reverse side of this circular is printed a copy o f the Sixth Amendment to Treasury Department Circular No. 418, as amended. The amendment provides that the Secretary o f the Treasury, in his discretion, when inviting tenders for Treasury bills, may provide that Treasury bills o f any series will be acceptable at maturity value, whether at or before maturity, in payment o f income and profits taxes. A llan S proul, P resident. ( over) TREASURY BILLS 1952 d.p.^ “ " 4n as amended. Dated February 28. 1941 _____ TREASU RY DEPARTM ENT OFFICE OF TH E SECRETARY ,,r , . , , _„ , __ W a s h i n g t o n , M a y 13, 1952 Fiscal Service Bureau o f the Public Debt Paragraph 5 o f Department Circular No. 418, as amended (31 C FR 309.5), is hereby revised to read as follow s: Sec. 309.5. Treasury bills will be acceptable at maturity value to secure deposits o f public m oneys; they will not bear the circulation privilege. The Secretary o f the Treasury, in his discretion, when inviting tenders fo r Treasury bills, may provide that Treasury bills o f any series will be acceptable at maturity value, whether at or before maturity, under such rules and regulations as he shall prescribe or approve, in payment o f income and profits taxes payable under the provisions o f the Internal Revenue Code. Notes secured by Treasury bills are eligible fo r discount or rediscount at Federal Reserve Banks by member banks, as are notes secured by bonds and notes o f the United States, under the provisions o f section 13 o f the Federal Reserve Act. They will be acceptable at maturity, but not before, in payment o f interest or o f principal on account of obligations o f foreign governments held by the United States. J ohn W . S nyder, Secretary of the Treasury.
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