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3 A meeting of the Executive Committee was held in the office of the Board on Thursday, December 9th, at 5:10 p.m. PRESZTT: The Yr. Yr. Hr. Governor Platt Wills Foxton, Secretary. In accordance with the - action of the Board today, the Governor submitted the letter from the Treasury Depar ment, transmitting certain new designs for Federal Reserve gederal Reserve Bank notes. notes After some discussion, the Governor was requested to advise the ?reasury De, artment that the proposed forms are satisfactory to the Board, at the same time calling attention to certain s which mi -ht properly be de. Hr. minor c h ,latt desired to be recorded as objectin, to both the present and the pro osed forms of Federal Reserve notes, in that the inscriptions upon such notes emphasize the liability for payment of the United States of Lmerica, rather than the liability of the 'Federal Reserve Bank of issue. The COrrnittee agreed to a draft of letter submitted by Governor Harding making reply to a letter of October 9, 1920, addressed to the Board by the Cha.ni)er of Commerce of the United States. At 6 p.m. the meeting adjourned. Approved: vernor.
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