Letter from Leslie M. Shaw to all depositary banks
Subject(s): Banks and banking, Speculation, United States. Department of the Treasury, United States. Dept. of the Treasury
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Secretary of the Treasury Shaw hears that many banks are loaning surplus funds through New York brokers at high interest rates, which are then employed for speculation. He recognizes the legal right of banks to make loans knowing they will be used speculatively. However, he is not willing “that Government money shall be enticed away from the locality where it has been deposited” for such use. He advises depository banks to return excess funds to the Treasury.
Collection
Library of Congress Manuscript Division
Creation Date
1906-09-07
Creator(s)
Shaw, Leslie M. (Leslie Mortier), 1848-1932
Language
English
Period
U.S. President – 2nd Term (March 1905-February 1909)
Page Count
1
Production Method
Record Type
Image
Resource Type
Rights
These images are presented through a cooperative effort between the Library of Congress and Dickinson State University. No known restrictions on publication.
Citation
Cite this Record
Chicago:
Letter from Leslie M. Shaw to all depositary banks. [September 7, 1906]. Theodore Roosevelt Papers. Library of Congress Manuscript Division.
https://www.theodorerooseveltcenter.org/digital-library/o293586. Theodore Roosevelt Digital Library. Dickinson State University.
MLA:
Shaw, Leslie M. (Leslie Mortier), 1848-1932. Letter from Leslie M. Shaw to all depositary banks. [7 Sep. 1906]. Image. Theodore Roosevelt Papers. Library of Congress Manuscript Division. Theodore Roosevelt Digital Library. Dickinson State University. December 1, 2025. https://www.theodorerooseveltcenter.org/digital-library/o293586.
APA:
Shaw, Leslie M. (Leslie Mortier), 1848-1932.: , [1906, September 7]. Letter from Leslie M. Shaw to all depositary banks. Theodore Roosevelt Papers. Library of Congress Manuscript Division.
Retrieved from https://www.theodorerooseveltcenter.org/digital-library/o293586.
Cite this Collection
Chicago:
Library of Congress Manuscript Division. Theodore Roosevelt Papers. Library of Congress Manuscript Division.
https://www.theodorerooseveltcenter.org/collection/library-of-congress-manuscript-division. Theodore Roosevelt Digital Library. Dickinson State University.
MLA:
Library of Congress Manuscript Division. Theodore Roosevelt Papers. Library of Congress Manuscript Division. Theodore Roosevelt Digital Library. Dickinson State University. December 1, 2025. https://www.theodorerooseveltcenter.org/collection/library-of-congress-manuscript-division.
APA:
Library of Congress Manuscript Division. Theodore Roosevelt Papers. Library of Congress Manuscript Division.
Retrieved from https://www.theodorerooseveltcenter.org/collection/library-of-congress-manuscript-division.
