Banks and banking, American--Government policy

Secretary of the Treasury Shaw discusses historical events in finance and banking in relation to Republican and Democratic policies. He notes that support for the single gold standard has increased within the Republican party. Shaw frames this discussion by asking what conclusions an “intelligent stranger of a philosophical turn of mind” would come to after observing “self-governed and self-governing people.” He argues that “the consensus of mature judgment of the Republican party is usually right, and that the consensus of mature judgment of the Democratic party is usually wrong.”

Collection

Library of Congress Manuscript Division

Creation Date

1904-07-23

Creator(s)

Shaw, Leslie M. (Leslie Mortier), 1848-1932

President Roosevelt assures Edwin B. Willis that his motivation in signing the emergency currency bill is the same as signing any good bill. Roosevelt says it is a good bill, and has not heard anything against it that is worthy of notice.

Collection

Library of Congress Manuscript Division

Creation Date

1908-07-23

Creator(s)

Roosevelt, Theodore, 1858-1919

George Bignell appreciates Theodore Roosevelt’s response to his earlier letter. He has an idea about the government management of banks that he would like to present to him, potentially to be published in The Outlook if Roosevelt thinks it is worthy. The proposition is that the government should take charge of the banks the same way it does in issuing currency. Bignell can explain this more in detail, but does not want any article about the proposition published under his name.

Collection

Library of Congress Manuscript Division

Creation Date

1911-02-11

Creator(s)

Bignell, George, -1931

Victor Morawetz briefly responds to a memorandum that criticized his paper on the solution to the United States’s banking and currency problem. Morawetz clarifies his stance that a central bank would be bad for the country and asks Theodore Roosevelt to suggest that the author reads his book on the topic.

Collection

Library of Congress Manuscript Division

Creation Date

1911-02-05

Creator(s)

Morawetz, Victor, 1859-1938

Senator Lodge advises President Roosevelt and Secretary of War William H. Taft to keep quiet about the Brownsville affair until action has been taken by the committee. He believes Senator Joseph Benson Foraker’s speech on the matter has fallen flat. Lodge believes Roosevelt handled the issue of the qualifications of engineer at the Chicago post office well. He was also amused by Roosevelt’s story about himself and Ethel Roosevelt listening to a concert. Finally, Lodge informs Roosevelt that his merger bill has made it through both houses. Henry Melville Whitney publicly opposed the bill, and Lodge believes this will hurt him politically if he runs for reelection.

Collection

Library of Congress Manuscript Division

Creation Date

1907-07-01

Creator(s)

Lodge, Henry Cabot, 1850-1924

Henry Lee Higginson offers President Roosevelt his opinions and critiques about current economic policies in the United States, especially pertaining to the Treasury Department and to railroads. Higginson believes the Treasury should circulate more money and is against the policy of holding it out of circulation. He also believes that railroad owners and investors should be able to reap the benefits of the risks they take in investing in railroad stock.

Collection

Library of Congress Manuscript Division

Creation Date

1907-04-24

Creator(s)

Higginson, Henry Lee, 1834-1919

William Emlen Roosevelt offers his opinion on Theodore Roosevelt’s memorandum on currency reform, which he has discussed with several of his close friends. Roosevelt largely agrees with Mr. Claflin that using unsecured currency is the most practical plan, but measures would have to be taken to ensure it was safe. He also believes that the currency should be taxed. Roosevelt offers Theodore suggestions from Mr. Claflin and encloses a letter from Mr. Porter.

Collection

Library of Congress Manuscript Division

Creation Date

1906-10-23

Creator(s)

Roosevelt, William Emlen, 1857-1930

Paul Morton sends his ideas about a recent conversation with President Roosevelt about currency reform. Morton warns that unless currency laws are revised soon the U.S. may undergo a financial crisis. Morton does not think Roosevelt should support a particular reform plan, but does believe that he should insist on the revision. Morton recommends Roosevelt meet with Frank A. Vanderlip, John B. Claflin, and Charles A. Conant.

Collection

Library of Congress Manuscript Division

Creation Date

1906-09-13

Creator(s)

Morton, Paul, 1857-1911

William Emlen Roosevelt has received President Roosevelt’s letter, with Secretary of the Treasury Leslie M. Shaw’s enclosure. Emlen believes that in the President’s position he would sign the bill also, but feels it will prevent them getting the bill right in the next session. He believes that the bill needs more work and it is “discouraging to see legislation by people who are ignorant of the results of what they do.”

Collection

Library of Congress Manuscript Division

Creation Date

1906-06-25

Creator(s)

Roosevelt, William Emlen, 1857-1930

The writer of the article recalls Theodore Roosevelt’s speech when, as president, he spoke against “malefactors of great wealth.” Although Roosevelt was subsequently accused of causing the Panic of 1907 following this speech, the events since have proved that the concentration of power in the hands of a few large banks and financiers has damaged the economy.

Collection

Library of Congress Manuscript Division

Creation Date

1911-02-10

Creator(s)

Unknown

In a scene reminiscent of the surrender at Yorktown, a man portrays Lord Cornwallis labeled “Special Privilege” offering his sword to President Wilson portraying George Washington, with William Jennings Bryan on the right and Oscar W. Underwood on the left. Standing behind the British officer are soldiers laying down their standards labeled “Monopoly, Tariff, Banking, Food Adulteration, Lobbyism, [and] Rail Road Rule.”

Collection

Library of Congress Prints and Photographs

Creation Date

1914-02-21

Creator(s)

Keppler, Udo J., 1872-1956

This article describes the endorsement of the “Lodge Bill” by the American Bankers’ Association led by Robert J. Lowry, President of the Lowry National Bank of Atlanta, Georgia. The aim of the Lodge Bill is the improvement of the consular service.

Collection

Library of Congress Manuscript Division

Creation Date

1904-09-26

Creator(s)

Unknown

Joseph Bucklin Bishop has met with General Hubbard and Hubbard would like the International Bank to be the government’s fiscal agency in Panama. Hubbard had a fiscal agent visit Panama and he found no financial institution of any importance. Hubbard believes his bank could be very useful to American interests. Bishop believes that the proposal is “reasonable and proper.”

Collection

Library of Congress Manuscript Division

Creation Date

1904-01-21

Creator(s)

Bishop, Joseph Bucklin, 1847-1928

John L. Carson offers some suggestions regarding the currency question, including supervision of national banks by the federal government.

Collection

Library of Congress Manuscript Division

Creation Date

1903-08-26

Creator(s)

Presidential Office Staff

Treasury Secretary Shaw discusses several bills and legislative acts pertaining to financial matters, especially bonds and public revenues. In particular, Shaw believes that a bill detailing securities for government bonds needs to be amended and the role of the secretary in providing security for them needs to be clarified. Shaw also discusses legislation about customs receipts and the charging of interest on customs and internal revenue receipts.

Collection

Library of Congress Manuscript Division

Creation Date

1903-07-28

Creator(s)

Shaw, Leslie M. (Leslie Mortier), 1848-1932

On behalf of the Bankers Convention, Harris C. Fahnestock submits a memorandum regarding possible amendments to the National Banking Act relative to the national currency system. He reviews the history of the American currency system relative to the systems of other countries and focuses primarily on the issue of unsecured currencies.

Collection

Library of Congress Manuscript Division

Creation Date

1903-03-25

Creator(s)

Fahnestock, Harris C. (Harris Charles), 1835-1914

Joseph Bucklin Bishop returns the letter from James Clarkson and requests that once the banking question is settled that President Roosevelt writes him a letter which can be shown to General Hubbard.

Collection

Library of Congress Manuscript Division

Creation Date

1902-05-29

Creator(s)

Bishop, Joseph Bucklin, 1847-1928