DEPARTMENT OF 8TATE
WASHINGTON
July 26. 1940
Excellency:
By request of the Secretary of the Treasury, I have
the honor to transmit a copy of a letter dated July 15,
1940, and enclosures, from the Federal Reserve Bank of
New York relative to accounts which it has opened on its
books in the name of the British Government.
Accept, Excellency, the renewed assurances of my
highest consideration.
Acting Secretary of State
Enclosures:
Letter and enclosures
from Federal Reserve
Bank, July 15, 1940.
His Excellency
The Right Honorable
The Marquess of Lothian, C.H.,
British Ambassador.
•Mara! Riitm Bank of new York
Jmly 15. 19*0
Mr iitf Nr. secretaryt
til* *ece.l-)t is acknowledged of tfc« letter of the Acting Secretary
of the 'A^umrjr da tod July 12, 19**), and ef lis mlenn, a photostatic
copy of a it t tor 4atod ML/ 1?, 19*0. addressed to too treegory Pe-partaent
by tho Secretary of State, relative to the opening and aaletalnlng of
accounts at thle bank im tho nam of tho British eorernaent and transfcre
thereto of tho dollar balances end gold froa accounts 1ft tho nnae of tho
Bank of England.
In eeeordanoo with tho Instructions of tho British OoTornaont ao sot
forth in tho lot tor of tho Saerotary of St«to, and in eeeordanee with
cable instructions oreriouely received from tho Bank of Inglaad in Ito
cable Wo* 58'6/1>0, of Juno ?0, 19**0|       opened accounts on our hook* for
and In tho nana of tho British Oovernnent, and nade transfers to snob ac-
counts, at tho close of business on July 11, 19**0, a« folloesi
Wo open** a dollar account do sign'ton1 -"is 3rl tannic Majesty's
Qovernaent Current Account f and credited 42,909,765*1* *u*re-
to by trancfor fron the account deeignpted Bank of Bnglaad
Account f, thle aaount being the balance in the latter account
laejedlatoly prior to such transfers
We opened a dollar account design ted His Britannic Majeoty't-
Goveroaent Current Account G and credited 4?7,7fiO,90?.56 there-
to by transfer fro* the account designated Bank of England
Account », thle aaount being the balance in the latter account
tanediately prior to each transfer:
We opened a deJLlax account designated Hie Britannic • ajetty's
Government Special Account A and credited *?l,l,tn',171.9g there-
to by transfer from the account designated Bank of Bnglend
Account A, this aaount being the balance in the latter account
lsraediately prior to such transfer: and
We opened a fold account <tosHgnatod Hie Britannic Majesty's
Governnent aai 3 Account and transferred thereto all the gold
(said to contain %g'aUjte7.652 ounces fine gold) held iaaediatoly
prior to such transfer la the pocount designated Bank of England
Be. 3 Account.
We enclose coles of the following:
(1)   Our cable to the Bank of England Be. 8U5/U0, dated
July 1?, 19*40, advising of the onenlng of the accounts
la the aaae of the British Government and of the
transfers thereto sc described pbove.
(?)   Bank of Ifoftload 0O>l« to no *©. 5«6/>*0.
Juno SO, 19'*0.
(3)   Oar Mllo U tho Bab It of "nglwid
d«tod Mt 8, 19**0.
Wo ohall o.ppro«i*to 1% If you viU twmemit t oo-ploo of this lottor
and of 1 to oncToturoo to tho Soorofevjr of *toto with tho roouoot thot
cor>ioo oo fumlohod to tho BritIon lownont.
Koodoo tfaTly,
fsf Alio* Soroul,
Allan S«roul,
»irot Tleo Trooidomt.
HoKoroMo Ronry Korgonth**, Jr.,
Soerotory of tho *roooury,
Veohiaffton. B. 0.