The Currency Bureau is composed of seven divisions, each of which has a chief and a corps of clerks with distinct and well defined duties. The regular working force of the office, January 1, 1922, including chiefs of divisions, numbered two hundred and twenty-seven.
In addition to this office force, on January 1, 1922, there were employed in the field, one hundred and ninety-seven national bank examiners and two hundred and ninety assistant examiners engaged in the examination of banks, who make full and detailed reports to the Comptroller of the condition of the banks examined, on specially prepared blanks. There were also employed in the Chief Examiners' offices, one hundred and ten clerks engaged in clerical work in connection with the examination of the banks.
The Federal Reserve Act requires each bank to be examined not less than twice in each calendar year, but many banks are examined more frequently according to the condition shown by the previous report. Examiners' reports are treated as confidential communications, are carefully guarded, and copies are never furnished except to the bank itself and to the Federal Reserve Bank of the district in which the bank is located.
In addition to the reports of examination received from each bank examiner, every bank is required by law to make five reports of condition each year, for a past date fixed by the Comptroller, without previous notice, sworn to by the cashier of the bank, or the president, and attested by at least three directors, on forms prescribed and furnished by the Comptroller.
These reports are carefully examined by the clerks of the office, and systematically tabulated, first by States, and reserve cities, and finally totaled for the United States. These abstracts contain a vast amount of valuable statistical information of great interest to bankers, statisticians and writers on financial subjects generally, both in this and other countries. The bureau is well organized, the personnel is efficient, and the systematic manner in which the work is handled, with the use of labor-saving devices, enables the force to dispose of the vast and constantly increasing volume of business with promptness and despatch, so that the current work of the bureau may be said to be always up to date.