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, 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 26, 311 60,825 163,785 1, 641, 597 899,500 572,958 10, 370 777, 300 1,009, 995 1,041,000 2, 792, 581 6, 768, 268 1,345,059 677,900 1, 466, 805 1, 629, 479 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 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 3,081.517 615, 242 7,553,357 7, 835, 351 9,328 19, 750, 781 275, 109 20,035, 582 2,915 20, 490, 015 260, 678 20, 764, 361 2.955 20, 523, 281 20, 907, 814 20, 096, 073 5,255 19, 532, 580 5,571 Total U. S. Government securities, direct and guaranteed....... 15,856 287,029 374,568 Other securities..... 12,300 3 205 729, 467 2, 430, 731 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 95 23, 556, 383 18,964, 512 38 20, 847, 518 24 23, 825, 342 28 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 17,062, 565 17,587,177 20, 810, 170 22, 335, 430 22, 622, 430 20, 880, 403 20, 753, 952 18,686, 680 17,862, 924 18,381, 293 21, 497, 297 22, 966, 080 79.825 248,905 163,079 85, 425 11, 147, 918 12, 831, 245 11, 433, 410 5, 487, 406 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 6, 796, 505 22, 559, 334 23,332, 746 50, 042, 871 18,884, 597 45, 643, 097 21, 457, 632 67,395 1, 296, 071 20, 777, 567 47, 172, 314 19.347 596,360 12, 792, 798 23,801,358 49,899, 836 23, 176, 223 21, 468, 067 222, 805 77,845 4.829, 247 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.. 188,817 3, 336, 281 1,838, 164 1, 663, 538 3, 709, 074 5, 930, 997 8, 192, 169 12, 192, 986 16, 906, 359 401, 175 1, 780, 679 2, 212, 098 5,494 16,432 Other deposits. 34,082 17,910 20, 611 18,819 Total deposits.. 452, 466 Deferred availability cash items.. Other liabilities..... Total liabilities.. 2, 470, 583 5, 587, 208 14, 025, 633 1, 132, 909 599, 544 12, 450, 333 13, 116, 809 485, 147 12, 885, 984 1, 360, 488 355, 936 CAPITAL ACCOUNTS Capital paid in... Other capital accounts.. Total liabilities and capital accounts... Ratio of total reserves to deposit and Federal Industrial loan commitments__ 54, 914 99,821 117, 237 169, 640 130, 512 138, 579 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 24, 352, 844 146, 026 47,574 154, 104 26,965 60, 124 33, 954, 566 |