Letter from Theodore P. Shonts to Theodore Roosevelt
Theodore P. Shonts is concerned about the financial uncertainty that is shaking the country. Railroads are defaulting on loans, the value of investments is shrinking, and many investors are selling off their stocks, flooding the market and driving prices even lower. Shonts suggests that President Roosevelt could calm fears by making a statement of the government’s future intentions regarding the railroads. Shonts also proposes that George B. Cortelyou, recently named Secretary of the Treasury, visit New York and offer to meet with financiers, either individually or as a group, to try to identify solutions.
Collection
Library of Congress Manuscript Division
Creation Date
1907-03-23