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ing power of the dollar and to maintain the strength of our economy in this critical period. Both the Treasury and the Federal Reserve have a vital interest in this objective.

We hope that we may have an early opportunity of discussing this matter with you.

With warmest regards,
Sincerely,

THOMAS B. MCCABE, Chairman.

(The above letter, February 7, 1951, was handed to Secretary Snyder by Chairman McCabe, Thursday, February 8, in a meeting at the Treasury. It did not, therefore, require a written reply.)

MISCELLANEOUS MATERIAL REQUESTED OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

In accordance with requests made at the meeting of the subcommittee on March 31, and in subsequent telephone conversations with members of the Board's staff, the following material have been furnished by the Board of Governors, Federal Reserve System:

1. Statement of Condition of the Twelve Federal Reserve Banks Combined at End of Year (Five-Year Intervals 1915-40 and Each Year 1941-51). 2. Federal Reserve Note Statement. End of Year Figures (Five-Year Intervals 1915-40 and Each Year 1941-51).

3. Maturity Distribution of Loans and Securities of Federal Reserve Banks. December 31, 1951.

4. Statement of Bank Premises of Federal Reserve Banks, and Other Real Estate Acquired for Banking House Purposes, at End of Year (FiveYear Intervals 1915-40 and Each Year 1941-51).

5. Statement of Taxes on Bank Premises Paid by Federal Reserve Banks (At Five Year Intervals 1915-40 and by Years 1941-51).

6. Volume of Checks Handled by Federal Reserve Banks (At Five Year In

tervals 1915-40 and by Years 1941-51).

7. Number of Officers and Employees of the Federal Reserve System. As of

December 31 of each year 1940-51.

8. Breakdown showing Average Number of Officers and Employees of the Federal Reserve Banks Assigned to Various Functions, for the Fourth Quarter 1951.

9. Breakdown of Staff of Board of Governors of the Federal Reserve System by Divisions as of December 31, 1951.

10. Comparison Between Benefits of Civil Service and Federal Reserve Retirement Systems.

11. Factors in the Rise in Currency in Circulation Since 1939.

12. Statement showing Number of Motor Vehicles operated by the Board of Governors and the Federal Reserve Banks, and the Types of License Plates Used.

13. Tax Status of Board of Governors of the Federal Reserve System and Federal Reserve Banks.

14. Applicability of State or Local Retail Sales or Excise Taxes to Luncheon Facilities, Snack Bars, Canteens, Etc., Operated at Board of Governors and Federal Reserve Banks.

15. Reimbursable Fiscal Agency Expenses of the Federal Reserve Banks Year 1950.

[In thousands of dollars]

Discounts and advances..

260, 645

126,678

73

187.065

24, 181
315,028
226,473

26, 311

60,825

163,785

1, 641, 597
216, 176

899,500
1, 284, 600

572,958

10, 370

777, 300

1,009, 995

1,041,000

2, 792, 581

6, 768, 268
2, 467, 300

1,345,059

677,900

1, 466, 805

1, 629, 479

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1. STATEMENT OF CONDITION OF THE 12 FEDERAL RESERVE BANKS COMBINED AT END OF YEAR (5-YEAR INTERVALS 1915-40 AND EACH

YEAR 1941-51)

1915

1920

1925

1930

1935

1940

1941

1942

1943

ASSETS

Gold and gold certificates.

541, 585

1,897, 053

Redemption fund, Federal Reserve notes.

1,125

162, 433

Other reserve cash..

12,721

190, 914

2, 647, 224
54,091
123,056

Total reserves..

555, 431

2, 250, 400

2, 824, 371

Nonreserve cash

4, 142

59,944

63, 137

Redemption fund, Federal Reserve bank notes..

12,588

56, 023

2, 947, 799

1,017,349

Industrial loans..

U. S. Government securities:

Bills

Certificates.

Notes....

Bonds.....

15,856

2,906, 008
35. 211
140, 298

3,081.517
79,932

615, 242

7,553,357
17,444
264,550

7, 835, 351

9,328
32 493

19, 750, 781
9,692

275, 109

20,035, 582

2,915
7 538

20, 490, 015
13,668

260, 678

20, 764, 361

2.955
9,504

20, 523, 281
30,449
354, 084

20, 907, 814

20, 096, 073

5,255
10, 134

19, 532, 580
233, 671
329,822

5,571
13.649

Total U. S. Government securities, direct

and guaranteed.......

15,856

287,029

374,568

Other securities.....

12,300

3 205

729, 467
7.143

2, 430, 731
181

2, 184, 100

2, 254, 475

6, 188, 635

11, 542, 947

Total loans and securities.

84, 179

3, 234, 828

1,395, 122

1,351,852

2. 472, 733

2, 194, 553

2, 266, 934

6, 207, 855

11, 558, 336

Total assets.

696, 840

6, 254, 105

5, 109, 404

5, 200, 648

11,025, 800

23, 261, 866

24, 352, 844

29.018, 642

33, 954, 566

24, 513, 094

23, 513,314

22, 646, 146

136

110

153.226

2, 197, 932

33.382

65, 915

102
163.385
2,599,574
32,406
48,449

95
162, 242
2,984, 999
33,007
115. 237

23, 556, 383
49
186, 738
2,860, 271
32.348
148,699

18,964, 512

38
162,306
2,946,781
33.738
101,654

20, 847, 518

24
170,088
4,270,008
39.972
120, 356

23, 825, 342

28
201,141
3,905,327
43.599
133,157

1. STATEMENT OF CONDITION OF THE 12 FEDERAL RESERVE BANKS COMBINED AT END OF YEAR (5-YEAR INTERVALS 1915-40 AND EACH

YEAR 1941-51) - Continued

Gold and gold certificates.

ASSETS

Redemption fund, Federal Reserve notes.

Other reserve cash...

Total reserves...

Nonreserve cash.

Redemption fund, Federal Reserves bank notes.

Discounts and advances.

Industrial loans.

U. 8. Government securities:

Bills

Certificates..

Notes.

Bonds..

1944

1945

1946

1947

1948

1949

1950

1951

17,850,365
594,126
242, 189

17,062, 565
800,359

17,587,177
794, 116

20, 810, 170
687, 127

22, 335, 430
630, 650

22, 622, 430
553.793

20, 880, 403
577, 229

20, 753, 952
714, 115

18,686, 680

17,862, 924
236, 315

18,381, 293
267, 890

21, 497, 297
272, 631

22, 966, 080
292, 303

79.825
3,751

248,905
1,941

163,079
550

85, 425
1,387

11, 147, 918
4,886, 640
1,568, 221
1, 243, 426

12, 831, 245
8,364, 461
2, 119, 650
946,892

11, 433, 410

5, 487, 406
6,077, 569
790, 550
10, 977, 221

18,846, 205

24, 262, 248

23, 349, 685

18,929, 781

112,514

2,448, 145

34,278

57.077

40, 268, 611

45,062,898

45, 006, 413

47,711,654

14. 744, 983
7,496, 012
355,300
753,390

6, 796, 505
1, 476, 550
2,852, 869

22, 559, 334

23,332, 746

50, 042, 871

18,884, 597

45, 643, 097

21, 457, 632
266, 716

67,395
2,556

1, 296, 071
2, 334, 195
12, 527, 226
4, 620, 075

20, 777, 567

47, 172, 314

19.347
4,637

596,360

12, 792, 798
5,068, 073
5.344, 127

23,801,358

49,899, 836

23, 176, 223
257,845

21, 468, 067
323, 175

222, 805
832

77,845
2,070

4.829, 247
6, 275, 450
562, 200
7, 217, 700

Total U. S. Government securities, direct and guaran-

teed

Other securities..

Total loans and securities.

Gold held abroad

Due from foreign banks..

Federal Reserve notes of other banks.

Uncollected cash items.

Bank premises.

All other assets.

Total assets..

15, 181, 025

1, 432, 303

5,589

33, 525, 276

1915

1920

1925

1930

1935

1940

1941

1942

1943

LIABILITIES

Federal Reserve notes...

Federal Reserve bank note circulation, net......

Deposits:

Member bank reserve accounts..
U. S. Treasurer, general account.
Foreign

188,817

3, 336, 281
216, 641

1,838, 164

1, 663, 538

3, 709, 074

5, 930, 997

8, 192, 169

12, 192, 986

16, 906, 359

401, 175
17, 209

1, 780, 679
57, 415

2, 212, 098

5,494

16,432
8,247

Other deposits.

34,082

17,910

20, 611

18,819
5,761
21,970

Total deposits..

452, 466

Deferred availability cash items..

Other liabilities.....

Total liabilities..

2, 470, 583

5, 587, 208
543, 770
28,935
225,896

14, 025, 633
368, 481

1, 132, 909

599, 544

12, 450, 333
867, 493
774,062
586, 170

13, 116, 809
799, 449
792, 790

485, 147

12, 885, 984
578, 617

1, 360, 488

355, 936

CAPITAL ACCOUNTS

Capital paid in...
Surplus (sec. 7)...
Surplus (sec. 13b).

Other capital accounts..

Total liabilities and capital accounts...

Ratio of total reserves to deposit and Federal
Reserve note liabilities combined (percent)...
Contingent liability on acceptances purchased
for foreign correspondents....

Industrial loan commitments__

54, 914

99,821
202, 036

117, 237
220, 310

169, 640
274, 636

130, 512
145, 501

138, 579
157,064

24, 235

26,785

35,081

46,899

696, 840

6, 254, 105

5, 109, 404

5, 200, 648

11,025, 800

23, 261, 866

29, 018, 642

94.1

43.3

69.0

73.7

77.6

90.8

90.8

76.3

62.6

16, 204

70, 344

439, 288

27, 649

5, 226

14, 597

10, 661

9,270

142, 180
157, 501
26,780
47,032

24, 352, 844

146, 026
160, 411
26,829

47,574

154, 104
188,097

26,965

60, 124

33, 954, 566

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1. STATEMENT OF CONDITION OF THE 12 FEDERAL RESERVE BANKS COMBINED AT END OF YEAR (5-YEAR INTERVALS 1915-40 AND EACH

YEAR 1941-51)-Continued

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