This lot is closed for bidding. Bidding ended on 11/30/2012
James Cash Penney (September 16, 1875 – February 12, 1971) was a businessman and entrepreneur who in 1902 founded the J.C. Penney stores. Above and beyond his shrewd business sense, Penny had an enduring desire for fairness in his business dealings. Raised by a Baptist minister, Penney had a greater interest in the spirit than in the letter of religion. As he once wrote, isn't serving people "part and parcel of business? It seems to me so. Business is therefore as much religious as it is secular." As an example of this philosophy, Penney initially called his stores the Golden Rule Stores, and made that rule part of company culture. Offered here is a typed letter signed, one page, 8.5" x 11", drafted on Penney's personal letterhead, August 9, 1954. A terrific letter to the associate editor of the Methodist Church, in which Penney discusses his famed "Golden Rule" philosophy. The letter reads, in part, "I want you to know that I have read and like very much the article you have prepared about my philosophy of business bearing the title, 'Business and the Golden Rule,' which you would like to use...I consider your suggested article to be a very good expression of my thoughts on this subject, and I appreciate your interest and clearly apparent care in studying the source material which I had sent you.' The year of 1954 would prove to be a significant one in the life of Penney. After nearly losing his entire fortune to bad investments in years prior, Penney would re-build his fortune once again and found the James C. Penney Foundation, which focused on supporting religious and educational organizations. In fine condition. Accompanied by a Certificate of Authenticity from leading 3rd Party autograph authenticator PSA/DNA.