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Letter Accepting the Resignation of J. W. Pole as Comptroller of the Currency.

September 09, 1932

[Released September 9, 1932. Dated September 8, 1932]

Dear Mr. Pole:

I have today received your letter of resignation, and I must of course accept it. In doing so I wish to express my appreciation for your remaining in the service at my request many months after you had determined to accept a position elsewhere. But of much more importance than that, I know that I express not only my own appreciation but that of all of the other members of the Government for the extremely able manner in which you have conducted a most difficult task during this period of crisis. We all regret the necessity which compels you to leave the service of the Government, and it would be extremely difficult for us to find someone to take over the office with the assurance of such ability and effectiveness as that which you have shown.

Yours faithfully,

HERBERT HOOVER

[Honorable J. W. Pole, Comptroller of the Currency, Washington, D.C.]

Note: Mr. Pole served as Comptroller of the Currency from 1928 until his resignation. His letter of resignation, dated September 6, 1932, and released with the President's letter, follows:

My dear Mr. President:

It is with great personal regret that I find it necessary to tender you, at this time, my resignation as Comptroller of the Currency.

During the past year I have had under consideration various opportunities tendered me to leave the public service and enter private business. Several months ago I decided to accept such an engagement, but owing to the crisis through which the banking system was then passing, I deemed it inadvisable to risk the possible effect which a change in the position of the Comptroller of the Currency might have. I accordingly took no steps at that time to bring the matter to your attention.

My associates in the enterprise have been very patient during these past months, in recognition of the situation, but now that conditions have so fundamentally improved I feel it would be unfair to ask them to defer longer the consummation oœ the change.

For almost seventeen consecutive years I have been connected with the National Banking System in various capacities, and it is with great reluctance that I relinquish the opportunity and privilege to continue in a branch of the public service which is so constructive and far-reaching in its effects upon the welfare of our country, and during the course of which I have formed so many warm and enduring friendships. However, I feel that I cannot postpone any longer entry upon my new duties, and I should appreciate it if my resignation could be acted upon at your very early convenience and if practicable, that it take effect not later than September 20.

Permit me in closing to extend to you my sincere congratulations upon the able manner in which you have met the emergencies arising during the course of your administration. As Comptroller of the Currency I have been in a position to appreciate the constructive nature of the measures which you have inaugurated and I have every confidence that they will eventuate in a full restoration of our country to normal conditions. I also desire to express to you my great appreciation of the confidence which you have reposed in me.
Respectfully,
J. W. POLE
Comptroller

[The President, The White House, Washington, D.C.]

Herbert Hoover, Letter Accepting the Resignation of J. W. Pole as Comptroller of the Currency. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/207470

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