There is also inclosed herewith a copy of a press statement which will be released by the Board for publication in the morning papers of December 27, 1937. 244 BOARD OF GOVERNORS CJF" THE FEDERAL RESERVE SYSTEM R-110 WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE November 12, 1937 Dear Sir: There are inclosed herewith copies of statement rendered by the Bureau of En-graving and Printing, covering the cost of preparing Federal reserve notes for the month of October, 1937. We ar, 3 prone~ to t£ 42 which were forwarded too late to be credited in July, but were credited in August, 1957. Accordingly, the ef- fect that the granting or withholding of credit accommodation by a Federal Reserve bank may have on a member bank, on its depositors and on the community is of primary importance. He states that his office has expressed an informal opinion that such shares should be considererl. The Interim Committee recommended in its report of May 28, 1937, that there bo established and maintained by the Board of Governors of the Federal Reserve System a loose-leaf service for use by the Board, its staff and the Federal reserve banks, embracing the following material: 1. J check or by crodi t, the reserves of member banks are Contrariwise, if tho Feder~:l Reserve System sells sec1. Some of the viGi ted appuared disturbed about reserve re-quirements having been increased to the maximum provi If they reduce profits below a point that encourages new investment, they lead to decreased plant, equipment and other capital expenditures. The report of the Committee on the services rendered by Federal reserve banks in furnishing currency and coin to member banks and on the expense of such services is comprehensive, and the data contained therein should prove helpful in the efforts of the banks to reduce the expense of the currency and coin function to the minimum consistent with the efficient operation of such function and the rendering of reasonable services to member banks. 5 letter words with t a l n u. X principle v;hich is s0unci equitcblc. Moisture conditions are excellent at -15- R—33—a San Francisco continued irrigation water in the principal reservoirs is above normal and greater than at any similar time in the past five years, The larger farming sections in Southern Idaho reported a wider diversification of crops being planted, with a heavy planting of beans, potatoes and sugar beets. Widely extended rains have greatly improved the pastures and live 17 R. -33-a Minneapolis continued stock feed outlook; and as a direct result, this year promises increased business activity. Q-32 DF' THE FEDERAL. "It is the Board's view, therefore, that at this time the Federal Reserve System can best discharge its public responsibility and promote the continuance of recovery by making it po8sible for member banlcs to obtain accornmodation from Federal Reserve Banks at rates which will encourage them to employ their funds to meet the needs of agriculture, industry and commerce. " This site is for entertainment purposes only. While the building faces on Constitution Avenue, it is expected that the C Street entrance will bo used more generally. A further incidental eharacteristic is that the central bank usually acts as fiscal of the Government. Southwestern Minnesota In the territory visited, there was every evidence of sufficient moisture for all crop production. 5 letter words with t a l n e. I would listen to you 334 -2Juring the past three yesrc l have lived continuou;c:ly, the problem of hovv to <:~chieve and, i:aintain ful~ &nd continuous employment of th:; country 1 s hrnno. TO PRESIDENTS OF ALL FEDERAL RESEaVE BANKS WASHINGTON ~ October 25, 1957. Monetary ffi(~asures This wns an e::ffccti vo me~ms to maintain the:: policy of ease. The hop prospects are so poor that bankers are making no loans to pick hops unless the borrower has ample other assets from which he can pay. LRlV1r, N OF THE BOARD OF GOVEi1. The general tone of those who discussed the business situation was pessimistic. On my world, the power always gathered and sought a new Vessel. 'lnks throughout Missouri are enjoying n slightly better local demand for loans created largoly b Governor of {name of State), and a junior officer was clvcted to take his place temporarily on the board of the national bank. Number of Words Sent Boston New York Philadelphia Cleveland Richmond Atlanta St. Banks Total Words Chargoable 55, 545 99, 556 27, 695 45, 627 46, 045 54 ' 962. Fcdcr~:l; f' For this, we Building hns d011' t:. Some of the banks simply indicated a wish to participate, but many others took occasion to express complimentary views on the idea, or the booklet, or both. 5 letter words with t a l n j. I have been fascinated to discover how much you've accomplished on Scadrial without me noticing your presence.
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