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At a meeting of the Executive Jommittee of the Federal deserve Board held in the office of the Vice Governor,
on Tuesday, September 26, 1917, at 1Z.30 p.m.,
PdESErT:
;parburg,

Yr. fdllis, Secretary.

:r. Delano,
Present also, Mr. ilbert Strauss, representing the
Treasury Department.
A letter from the Secretary of State to the Secretary of the Treasury calling attention to the application
for , 2,000,000 gold to be shipped to Mexico by Lessrs. Isaaca
c"z Lessing was read to the Committee and it was agreed that
Yr. Strauss furnish the Secretary of the Treasury with a
memorandum outlining the plan tentatively under discussion
with the Ambassador of Mexico whereby the minimum gold requirements of that country would be met.
letter from the Chamber of Amerce of ::ogales,
Ariz., relative to the general trade situation in Mexico
was laid before the Ammittee and the Secretary directed
to say that an effort is being made to arrange matters with
the 7.:exican Government in such a :,ay as to bring about a
freer use of American paper currency.




41:?11-•

et.




A letter from the Nacozari :Zailroad Co. with
reference to their application already passed upon, was
ordered answered in the same way.
complaint from Balfour,

illiamson & Co., with

reference to the delay in the handling of their application on the part of the Justoms Division authorities,

as

ordered answered to the effect that the difficulty has
been due to the necessity of perfecting an organization.
letter from the Collector of Customs at St.
iabans asking whether special permit was necessary for
shipments of Canadian currency to :;anada in each was ordered answered by transmitting the printed regulations to
him.
inquiry from the New York Central Railroad Co.
as to whether individual applications must be made in every
case was ordered answered with the suo-oestion that they
submit applications for round sums.
A letter from the Bank of rew York (N.B.A.), asking
for reconsideration of its former application for permission to ship 4500,000 to the Bank of Nova Scotia at Toronto was ordered answered with a suitable explanation of
the Board's policy.

Similar action was taken with ref-

3/11

erence to a letter from Messrs. Yastenhuber & Lehrfeld.
Mr. Strauss reported the substance of a conversation
had with the .Ambassador of 2ilexico as to the proposed plan
whereby the Mexican Croveraent would receive 7ederal Reserve
notes at its customs houses and the United States would release a moderate amount of gold upon request.
On motion, at one o'clock, the Committee adjourned.
zi.PP3OVLD:




Secretary.
Chairman.