Julian Haskell Scarborough
Julian Haskell "J.H." Scarborough (June 16, 1891 – March 19, 1970) was an American politician and bank executive who served as the 13th South Carolina Treasurer and as a member of the South Carolina House of Representatives and South Carolina Senate. He played a critical role in ensuring South Carolina received needed loans and federal funds during the Great Depression. Scarborough later served as a bank president within the Farm Credit System.
Early life and education
Scarborough was born on June 16, 1891 in Bishopville, South Carolina, the son of Orlando Calhoun Scarborough and Mary Ella Ambrose. He was a 1912 graduate of Furman University and of Yale University in 1914, where he was a member of Beta Theta Pi.
Career
Military service
During World War I, Scarborough served in the United States Army Ambulance Service with the French Army. He was commissioned as a first lieutenant and served in Belgium with the 77th French Infantry for one year. He was discharged in 1919.
Public service
Scarborough served in the South Carolina House of Representatives from 1921 to 1923. He later served in the South Carolina Senate representing Clarendon County from 1923 to 1926.
He resigned from the Senate in January 1926 when he was sworn in as South Carolina Treasurer, serving two terms from 1926 to 1934. He also served as the chairman of the state board of bank control.
In 1928, Scarborough oversaw the redemption of the state's "deficiency blue bonds," a $4,000,000 issue dating to 1888. The retirement of the 40-year bonds reduced the state debt by $400,000, against total interest payments of $720,000 over the bonds' lifetime.
Six months before the Wall Street crash of 1929, Scarborough traveled Columbia to New York City to secure funds for the state's ordinary running expenses until tax revenues became available, carrying notes totaling $3,500,000.
In 1933, Scarborough worked with Farm Credit Administration officials to successfully extend the agency's farm-mortgage relief program to South Carolina. The plan refinanced farm mortgages held by closed and restricted banks. At that time, the state had 413 closed banks. Scarborough initiated a county-by-county campaign to implement the program.
Bank executive
After his service as treasurer, Scarborough became a general agent with the Farm Credit Administration. He was later appointed as the president of the Federal Land Bank in South Carolina. In the 1950s, he served on the board of the First National Trust Bank.
Death
Scarborough died on March 19, 1970.