S-0806.1/91       _______________________________________________

                            SENATE JOINT MEMORIAL 8004

                  _______________________________________________

State of Washington              52nd Legislature             1991 Regular Session

By Senators Metcalf, Conner and Moore.

Read first time January 28, 1991.  Referred to Committee on Financial Institutions & Insurance.Requiring a complete audit of the Federal Reserve System.

     TO THE HONORABLE GEORGE BUSH, PRESIDENT OF THE UNITED STATES, AND TO THE PRESIDENT OF THE SENATE AND THE SPEAKER OF THE HOUSE OF REPRESENTATIVES, AND TO THE SENATE AND HOUSE OF REPRESENTATIVES OF THE UNITED STATES, IN CONGRESS ASSEMBLED:

     We, your Memorialists, the Senate and House of Representatives of the State of Washington, in legislative session assembled, respectfully represent and petition as follows:

     WHEREAS, Congressman Philip M. Crain of Illinois introduced a measure during the 101st Congress that would have required a complete audit of the Federal Reserve System; and

     WHEREAS, This measure gained wide support, being sponsored by more than sixty congressional members; and

     WHEREAS, Although this measure did not gain approval, public and congressional accountability would be promoted by the performance of a complete audit of the Federal Reserve System;

     NOW, THEREFORE, Your Memorialists respectfully pray that Congress enact legislation to require a complete audit of the Federal Reserve System.

     BE IT RESOLVED, That copies of this Memorial be immediately transmitted to the Honorable George Bush, President of the United States, the President of the United States Senate, the Speaker of the House of Representatives, and each member of Congress from the State of Washington.