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Lee, George Cabot, 1871-1950

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Letter from Theodore Roosevelt to George Cabot Lee

Letter from Theodore Roosevelt to George Cabot Lee

President Roosevelt has received George Cabot Lee’s letter and the enclosed magazine, although he takes issue with the fact that the article about trusts and stakeholders in it does not account for the facts as the administration has to face them. The stakeholders of a corporation are responsible for the actions of that corporation, and many corporations are owned in large part by their stakeholders. Thus it is the stakeholders’s responsibility to ensure that the corporation’s officials are behaving properly. The problem currently is that corporate organization shields guilty parties from facing responsibility for their actions, with agents being imprisoned for misconduct and the owners “go scot-free” or the corporation gets fined, even though it is their orders that lead to the wrongdoing. He does not believe in “letting bygones be bygones” and wants to abide by the statute of limitations.

Collection

Library of Congress Manuscript Division

Creation Date

1908-01-13

Creator(s)

Roosevelt, Theodore, 1858-1919

Letter from Theodore Roosevelt to George Cabot Lee

Letter from Theodore Roosevelt to George Cabot Lee

President Roosevelt tells George Cabot Lee that “one would have to be the seventh son of a seventh son to prophesy about Russia.” He believes that there is currently a slight chance against a serious revolution happening in the near future, and that if Emperor Nicholas II makes a good-faith effort to work with the moderate party revolution can possibly be avoided.

Collection

Library of Congress Manuscript Division

Creation Date

1906-07-27

Creator(s)

Roosevelt, Theodore, 1858-1919