Among the implied or educative duties of the board is undoubtedly that of bringing about general and harmonious action among the several districts and of welding the different parts into a consistent, united whole. In order to do its work well the board must necessarily be in close touch with the several districts and know what is going on in them, and, with this purpose in view, direct communication with the different districts has been intrusted to the several members of the board in order that they may keep themselves and their colleagues advised of any developments in these districts which call for special attention.

An annual report to Congress was required by law and must be formulated by the board. It was also intrusted with the duty of keeping the country advised of the condition of the system. It has undertaken to carry out this duty in part by the establishment of a publication known as the Federal Reserve Bulletiny in which are collected notices and statements about the work undertaken and the results accomplished in the operation of the system. Much more might be said of the detailed work of the board in the task of educating the public to a knowledge of its operations and of standardizing bankng practices, but the statements already made practically cover the ground in its most essential aspects.