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Letter Accepting the Resignation of Hamer H. Budge as Chairman and Member of the Securities and Exchange Commission.

November 16, 1970

Dear Hamer:

It is with special regret that I accept your resignation as Chairman and a Member of the Securities and Exchange Commission. In the hope that my request will not seriously interfere with your plans for the future, I would, however, ask you to defer your departure until after the present Congress has concluded its work.

The dedication and the outstanding ability which have distinguished your years with the Commission have earned the gratitude of every one of our fellow citizens many times over. Your service has added to the finest traditions of government, and you are leaving to your successors exceptional standards of integrity, keen judgment, and far-seeing concern for the interests of all Americans.

Together with the appreciation of the nation, I want to express my own personal thanks for the splendid job you have done. Knowing you as I do, I am confident that in the years ahead your activities will continue to reflect great credit on our country as on yourself.

With warm personal regards,



[Honorable Hamer H. Budge, Chairman, Securities and Exchange Commission, Washington, D.C. 20549]

Note: The President's letter, dated November 13, 1970, and Chairman Budge's letter of resignation, dated November 5, were released by the White House on November 16. Chairman Budge's letter follows:

Dear Mr. President:

After six and one half busy years on the Commission and as this Congress nears adjournment, the time seems appropriate for me to retire. I am, therefore, asking you to accept my resignation.

The Commission's legislative proposals have all been completely presented to the Congress. The backlog of work in its various divisions has been brought under control and its calendar is current.

I feel the Commission has done a great deal in the interest of investors and the markets. I am proud to have been associated with it and its fine staff and have received complete cooperation from my fellow commissioners.

I am deeply appreciative of the confidence you have shown in me and the many courtesies you have extended.
With many thanks, I am

Richard Nixon, Letter Accepting the Resignation of Hamer H. Budge as Chairman and Member of the Securities and Exchange Commission. Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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