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llX-OPPICID llBll•Bll• W. p, 8, HARDIN8, 80Y•••o• PAUL M. WARBUR8, YIC• GoV••n• PRBDHIC A. DELANO
WILLIAN 8, McADOO ADOLPH C, MILLH •11e•nA•Y OP TH• T•usun
CHAlallAll CHARU• •· HANLIN
JOHN SKBLTON WILLIANS ClOHPrROLU• OP TH• CU••••CY FEDERAL RESERVE BOARD H. PARKBR WILLIS, BK•DHY
···•••AN p, ALLEN. MST. ••e11na•Y AaDPl8CALM•HT
"
WASHINGTON ADDllD• UPLY TD
PllDllUIAL RaBllVB llOARD
X-605
December 22, 1917.
Dear Sir:
Arrangements have been made with the N~tional Bank
~~de~tion Agenc~. which also assorts ~ederal Res~rve notes,
to reduce its st~ndard so that ~ greater proportion_ of used
notes will be:roturned to Federal R~serve b~nks as fit for
circulation. This step is necess~~y because the Bureau of
Engravi~g and Pril,ti1'1g tk"\s been co:1ceatr"lti£1g upon the pre
par.11tion of Liberty Bomls, ~11d as g, result cannot camplote
otders for Federal Reserve notes ~s r~pidly as formerly.
It is B8gestod that your ota;,idard be tevised to
conform to th,_t ac'!ept~d by the i1"1tional Bank Redempti~~
.Age11cy i&1 the ~re'1aury De:,.i.rt~·.lel1t 1 :ind that •10 l1otes be
sel1t ill f •r rede: r,..ltio11 u:;:tl.esA b~t.clly worn.
Very truly yours •.
Gevernor. .... . .
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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis