A-4645, SEPTEMBER 16, 1924, 4 COMP. GEN. 301

A-4645: Sep 16, 1924

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1924: I HAVE YOUR LETTER OF AUGUST 11. THE FEDERAL FARM LOAN BOARD IS REQUIRED TO APPOINT A FARM-LOAN REGISTRAR IN EACH LAND-BANK DISTRICT. APPROPRIATIONS HAVE BEEN PROVIDED FOR "TWELVE REGISTRARS. PROVIDES AS FOLLOWS: THAT THE FEDERAL FARM LOAN ACT IS AMENDED BY ADDING AT THE END THEREOF A NEW TITLE. (A) THAT THE FEDERAL FARM LOAN BOARD SHALL HAVE POWER TO GRANT CHARTERS FOR 12 INSTITUTIONS TO BE KNOWN AND STYLED AS FEDERAL INTERMEDIATE CREDIT BANKS.- "/B) SUCH INSTITUTIONS SHALL BE ESTABLISHED IN THE SAME CITIES AS THE 12 FEDERAL LAND BANKS. THE OFFICERS AND DIRECTORS OF THE SEVERAL FEDERAL LAND BANKS SHALL BE EX OFFICIO OFFICERS AND DIRECTORS OF THE SEVERAL FEDERAL INTERMEDIATE CREDIT BANKS HEREBY PROVIDED FOR AND SHALL HAVE POWER TO EMPLOY AND PAY ALL CLERKS.

A-4645, SEPTEMBER 16, 1924, 4 COMP. GEN. 301

COMPENSATION, DOUBLE--- FARM LOAN REGISTRARS OF LAND-BANK DISTRICTS THE TOTAL AMOUNT OF THE SALARIES OF FARM-LOAN REGISTRARS OF LAND BANK DISTRICTS FOR THE FISCAL YEAR 1925 MUST BE PAID FROM FUNDS APPROPRIATED THEREFOR BY THE ACT OF APRIL 4, 1924, 43 STAT. 70, AND MAY NOT BE SUPPLEMENTED FROM FUNDS DERIVED BY ASSESSMENTS AGAINST FEDERAL INTERMEDIATE CREDIT BANKS FOR THE PAYMENT OF ADDITIONAL COMPENSATION FOR THE ADDED DUTIES OF TRUST OFFICER OF THE FEDERAL INTERMEDIATE CREDIT BANKS ASSIGNED TO THE REGISTRARS, UNDER THE DIRECTION OF THE FEDERAL FARM LOAN BOARD.

COMPTROLLER GENERAL MCCARL TO THE SECRETARY OF THE TREASURY, SEPTEMBER 16, 1924:

I HAVE YOUR LETTER OF AUGUST 11, 1924, REQUESTING DECISION WHETHER FEDERAL INTERMEDIATE CREDIT BANKS MAY PAY FARM-LOAN REGISTRARS OF LAND BANK DISTRICTS ADDITIONAL COMPENSATION IN AN AMOUNT AUTHORIZED BY THE FEDERAL FARM LOAN BOARD FOR PERFORMING DUTIES AS TRUST OFFICERS OF THE FEDERAL INTERMEDIATE CREDIT BANKS.

UNDER SECTION 3 OF THE ACT OF JULY 17, 1916, 39 STAT. 361, AND THE AMENDMENT THEREOF, ACT OF APRIL 20, 1920, 41 STAT. 570, THE FEDERAL FARM LOAN BOARD IS REQUIRED TO APPOINT A FARM-LOAN REGISTRAR IN EACH LAND-BANK DISTRICT, IT BEING EXPRESSLY PROVIDED THAT THE SALARIES OF SAID REGISTRARS "SHALL BE PAID BY THE UNITED STATES.' BEGINNING WITH THE FISCAL YEAR 1919, ACT OF JULY 3, 1918, 40 STAT. 772, AND ENDING WITH THE FISCAL YEAR 1924, ACT OF JANUARY 3, 1923, 42 STAT. 1094, APPROPRIATIONS HAVE BEEN PROVIDED FOR "TWELVE REGISTRARS, AT $4,000 EACH.' FOR THE FISCAL YEAR 1925, THE ACT OF APRIL 4, 1924, 43 STAT. 70, PROVIDES UNDER THE HEADING "FEDERAL FARM LOAN BUREAU," A LUMP SUM OF $137,000 "FOR PERSONAL SERVICES IN THE FIELD.' ACCORDINGLY, FOR THE PRESENT FISCAL YEAR THE RATE OF COMPENSATION OF THE REGISTRARS HAS NOT BEEN FIXED BY STATUTE.

SECTION 2 OF THE ACT OF MARCH 4, 1923, 42 STAT. 1454, PROVIDES AS FOLLOWS:

THAT THE FEDERAL FARM LOAN ACT IS AMENDED BY ADDING AT THE END THEREOF A NEW TITLE, TO READ AS FOLLOWS:

"TITLE II.--- FEDERAL INTERMEDIATE CREDIT BANKS.

"ORGANIZATION.

"SEC. 201. (A) THAT THE FEDERAL FARM LOAN BOARD SHALL HAVE POWER TO GRANT CHARTERS FOR 12 INSTITUTIONS TO BE KNOWN AND STYLED AS FEDERAL INTERMEDIATE CREDIT BANKS.-

"/B) SUCH INSTITUTIONS SHALL BE ESTABLISHED IN THE SAME CITIES AS THE 12 FEDERAL LAND BANKS. THE OFFICERS AND DIRECTORS OF THE SEVERAL FEDERAL LAND BANKS SHALL BE EX OFFICIO OFFICERS AND DIRECTORS OF THE SEVERAL FEDERAL INTERMEDIATE CREDIT BANKS HEREBY PROVIDED FOR AND SHALL HAVE POWER TO EMPLOY AND PAY ALL CLERKS, BOOKKEEPERS, ACCOUNTANTS AND OTHER HELP NECESSARY TO CARRY ON THE BUSINESS AUTHORIZED BY THIS TITLE.'

SECTION 206 (A) OF THE SAME ACT, 42 STAT. 1457, PROVIDES AS FOLLOWS:

THAT THE FEDERAL FARM LOAN BOARD SHALL EQUITABLY APPORTION THE JOINT EXPENSES INCURRED IN BEHALF OF FEDERAL LAND BANKS, JOINT STOCK LAND BANKS, AND FEDERAL INTERMEDIATE CREDIT BANKS, AND SHALL ASSESS AGAINST EACH FEDERAL INTERMEDIATE CREDIT BANK ITS PROPORTIONATE SHARE OF THE EXPENSES OF ANY ADDITIONAL PERSONNEL IN THE FEDERAL FARM LOAN BUREAU MADE NECESSARY IN CONNECTION WITH THE OPERATION OF THIS PROVISION.

SECTION 302 OF THE SAME ACT, 42 STAT. 1473, AMENDING SECTION 3 OF THE FEDERAL FARM LOAN ACT, PROVIDES IN PART AS FOLLOWS:

THE SALARIES AND EXPENSES OF THE FEDERAL FARM LOAN BOARD AND FARM LOAN REGISTRARS AND EXAMINERS AUTHORIZED UNDER THIS SECTION SHALL, AFTER JUNE 30, 1923, BE PAID BY THE FEDERAL AND JOINT-STOCK LAND BANKS IN PROPORTION TO THEIR GROSS ASSETS, AS FOLLOWS:

THE FEDERAL FARM LOAN BOARD SHALL, PRIOR TO JUNE 30, 1923, AND EACH SIX MONTHS THEREAFTER, ESTIMATE THE EXPENSES AND SALARIES OF THE FEDERAL FARM LOAN BOARD, ITS OFFICERS AND EMPLOYEES, FARM LOAN REGISTRARS, DEPUTY REGISTRARS, THE EXAMINERS AND REVIEWING APPRAISERS, AND APPORTION THE SAME AMONG THE FEDERAL AND JOINT-STOCK LAND BANKS IN PROPORTION TO THEIR GROSS ASSETS AT THE TIME OF SUCH APPORTIONMENT AND MAKE AN ASSESSMENT UPON EACH OF SUCH BANKS PURSUANT TO SUCH APPORTIONMENT, PAYABLE ON THE 1ST OF JULY OR JANUARY NEXT ENSUING. THE FUNDS COLLECTED PURSUANT TO SUCH ASSESSMENTS SHALL BE DEPOSITED WITH THE TREASURER OF THE UNITED STATES TO BE DISBURSED IN PAYMENT OF SUCH SALARIES AND EXPENSES ON APPROPRIATIONS DULY MADE BY CONGRESS FOR SUCH PURPOSE.

IT SEEMS REASONABLY CLEAR FROM THESE QUOTED PROVISIONS OF THE ACT OF MARCH 4, 1923, THAT WHILE THE OFFICERS AND DIRECTORS OF SEVERAL FEDERAL LAND BANKS ARE MADE EX OFFICIO OFFICERS AND DIRECTORS OF THE SEVERAL INTERMEDIATE CREDIT BANKS, NO PROVISION HAS BEEN MADE FOR THE INCREASE OF THEIR COMPENSATION BY REASON THEREOF. THE REGISTRARS ARE CONSIDERED AS OFFICERS OF THE FEDERAL LAND BANKS WITHIN THE MEANING OF SECTION 2 OF THE ACT. SECTION 302 OF THE SAME ACT EXPRESSLY PROVIDES THAT THE COMPENSATION OF REGISTRARS SHALL BE PAYABLE FROM APPROPRIATED FUNDS DERIVED BY ASSESSMENTS, NOT ON THE FEDERAL INTERMEDIATE CREDIT BANKS, BUT ON THE FEDERAL AND JOINT-STOCK LAND BANKS. AS STATED IN THE DECISION OF AUGUST 16, 1923, 3 COMP. GEN. 85, THE FUNDS DERIVED BY ASSESSMENTS ON THE FEDERAL INTERMEDIATE CREDIT BANKS ARE AVAILABLE "TO PAY THE EXPENSES OF SUCH ADDITIONAL PERSONNEL AS IT MAY BE NECESSARY TO EMPLOY IN THE FEDERAL FARM LOAN BUREAU TO TAKE CARE OF THE ADDITIONAL WORK OCCASIONED BY THE FEDERAL INTERMEDIATE CREDIT BANKS.' BUT IT IS NOT BELIEVED THAT CONGRESS INTENDED SUCH FUNDS TO BE AVAILABLE FOR SUPPLEMENTING THE SALARIES OF THE OFFICERS AND EMPLOYEES OF THE FEDERAL LAND BANKS WHICH HAVE BEEN OTHERWISE PROVIDED FOR BY APPROPRIATIONS.

ACCORDINGLY, YOU ARE ADVISED THAT THE SALARIES OF FARM LOAN REGISTRARS OF LAND BANK DISTRICTS FOR THE FISCAL YEAR 1925, MUST BE PAID FROM FUNDS WHICH HAVE BEEN APPROPRIATED THEREFOR BY THE ACT OF APRIL 4, 1924, SUPRA, AND MAY NOT BE SUPPLEMENTED FROM FUNDS DERIVED FROM ASSESSMENTS AGAINST THE FEDERAL INTERMEDIATE CREDIT BANKS FOR THE PERFORMANCE OF DUTIES AS TRUST OFFICER ASSIGNED TO THEM UNDER DIRECTION OF THE FEDERAL FARM LOAN BOARD IN CONNECTION WITH THE WORK OF THE FEDERAL INTERMEDIATE CREDIT BANKS.