Letter Accepting Resignation of Eugene Meyer as Federal Farm Loan Commissioner.
[Released May 1, 1929. Dated April 29, 1929]
My dear Mr. Meyer:
I received your letter of April 3rd in which you tender your resignation as Federal Farm Loan Commissioner and as a member of the Federal Farm Loan Board.
I intensely regret that your decision is irrevocable and that, in the [p.130] circumstances, the duty devolves upon me to accept your resignation.
I particularly wish to take this opportunity to express the appreciation which all of us hold for the work you have accomplished as Farm Loan Commissioner during the past two years. I know that you undertook the difficult task of reconstruction at a time when the Farm Loan System was confronted with a critical situation and public confidence had been impaired. Under your leadership the administration and supervision of the System has been greatly strengthened, this great institution of service to the farmers has been placed on a sounder basis and public confidence has been materially improved, and will be of lasting benefit to the agricultural interests of the country.
I am aware that after ten years of public service you unwillingly undertook this additional two years of service, and I can realize your desire to be relieved. I earnestly wish, however, that you could remain in public service where your high qualifications and sense of service so respond to public interest.
[Hon. Eugene Meyer, Farm Loan Commissioner, Federal Farm Loan Board, Washington, D.C.]
Note: Mr. Meyer had been appointed in 1927, after the disclosure of a series of bankruptcies, frauds, and irregularities in the Federal land, intermediate credit, and joint-stock land banks supervised by the Federal Farm Loan Board.
Herbert Hoover, Letter Accepting Resignation of Eugene Meyer as Federal Farm Loan Commissioner. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/209681