The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-01-17
TOO EAGER FOR BUSINESS.
CIRCULAR SUGGESTION DE
NOUNCED BY FARM BOARD.
Letter PurpOrting to Be From Nation
al Surety Company's President As
sailed as "Appeal to Cupidity."

Washington. Jan. IA circular
alleged to have been sent by the M
tional Surety company of New York
to all it's agents suggesting that they
could get the positions Of secretary
treasurer of farm loan associations TO
be organized to obtain loans from
federal farm loan banks and thereby
surely control all the bonding bus
iness," was made public todaysby the
federal farm board with reply
thereto by George w. Norris OF the,
board 20 w. B. Joyce, president cf
the company.
In his reply Mr.. Norris character
ICES the circular as "a sordid zap
peal' to the "cupidity" of it's fecip-
tents. amounting. to "an attempt to
prostitute the act to purposes OF
personal, gain." and expresses :rthe
hopo that Mr.. Joyce will disown
The circular issued under dsts, of
January s and purporting n to s'bo
signed by the superintendent OF the
farm loan department Of the compa-
ny, reads as follows:
1--WE learn today that {one man is
to be elected as secretary-treasurer
of all the farm loan associations in
| each county. eAits
This being true, it will create an
office of great value to the holder
Of it.
If this proposition attracts you,
there is little duobt but what you can
secure the position if you organize
immediately and ask your friends In
the banks to recommend you to the
farm loan board at Washington. You
could then surely control all the
bonding business
The bonding business to be trans-
| acted. board officials said, would in
volve the bonding Of officials of the
various banks and officials of thou
sands of farm loan associations
groups of farm borrOwers-to be or
ganizcd throughout the United States.
Mr.. Norris letter to President
Joyce of the company under date of
January Is follows:
Il inclose herewith a circular let
ter under date Of January 5, pur-
porting to be issued by the superin-
tendent of a department in your
company AS it has been received by
several Of your agents. whose as.
tonishment at it's contents has led
them to call it to the attention of
this board, suppose that there can
be no doubt Of it's authenticity.
II would call your attention to the
following points:
THE statement of fact in the first
paragraph is incorrect. While the
board has under consideration the
ACCESSIBILITY Of making such sug-
gestion to farm loan associations. no
decisio' has been reached. Your
publication Of it as a fact is likely to
lead to misapprehensions and much
unnecessary correspondence.
THE suggestion in the second par
agraph that this will create an Of
flee of great value to the holder is
not only false i'm fact but most mis-
chievOus i'm it's implication 1t is a!
sordid appeal to the cupidity of the
reel lent of your letter and taken in
conjunction with the concluding
phrase you could then surely control
all the bonding business it betrays q
total lack of ability to comprehend
the broad and beneficial purposes of
the farm loan act and amounts 20
an attempt to prostitute to purposes !
of personal gain and is a direct in
Vitation t" abuse the position of sec !
Ittary- y-treuSurcr of Il farm loan asso- !
citation by using it as IL cloak to con-
Ccal ultcrior motives.
II trust that YOU will promptly |
disown this discrcditable circular |
cn