Q. 27. What must a member bank do to obtain Federal Reserve notes from the Federal Reserve bank?

A. Federal Reserve notes in denominations of $5, $10, $20, $50, $100, $500, $1,000, $5,000 and $10,000 are shipped to member banks on request, by registered mail, insured, and the member bank's account charged with the face amount, thus providing clean currency at all times. The Federal Reserve Board has authorized the Federal Reserve banks to absorb the expenses in connection with transactions between them and their member banks, as follows:

(a) Payment of all postage, express charges, insurance, etc., incident to shipments of currency to and from member banks; and

(b) Payment of charges on all telegrams received from or sent to member banks in connection with currency, exchange transfers, and deposit transactions.

Shipments of gold, gold certificates, silver certificates, and legal-tender notes may be made to the Federal Reserve Bank of New York either by express or by registered mail for credit of the member bank's account or for exchange for Federal Reserve notes. We pay transportation charges on gold, gold certificates, and silver certificates, whether fit or unfit for circulation, and also furnish, free of expense, Federal Reserve notes in exchange.

Q. 28. In what amounts are Federal Reserve notes available?

A. The Federal Reserve bank is not limited as to the amount of notes which it may issue, except by the provision that a 40-per-cent gold reserve must be maintained against Federal Reserve notes in actual circulation.

The Federal Reserve Bank of New York now has in actual circulation approximately $760,-000,000 of Federal Reserve notes. It always maintains, ready for issuance, a very large supply of unissued notes, which assures member banks of an ample currency supply at all times.

Q. 29. Can the Federal Reserve bank supply $1 and $2 notes?

A. Yes. The Federal Reserve bank is at present issuing Federal Reserve bank notes of these denominations, which can be supplied in the same manner as other currency. Q. 3O. Does the Federal Reserve bank furnish subsidiary silver coin and minor coins? A. Yes. It will furnish such coins and pay cost of shipment thereon.