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Letter from Theodore Roosevelt to Nicholas Murray Butler

Letter from Theodore Roosevelt to Nicholas Murray Butler

President Roosevelt regrets missing Nicholas Murray Butler, as they have much to discuss. Roosevelt has feared an economic recession because of the recklessness of the financial sector and it is now coming to pass. He is certain that the newspapers entrenched on Wall Street will need to accept that his policies are here to stay, even once he leaves office. The President is concerned that so many of the richest Americans ally themselves with corrupt interests, and himself favors the common people over the dishonest elites. He believes that the Republicans should put off revising the tariff until after the next general election.

Collection

Library of Congress Manuscript Division

Creation Date

1907-09-20

Creator(s)

Roosevelt, Theodore, 1858-1919

Letter from Theodore P. Shonts to Theodore Roosevelt

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

Creator(s)

Shonts, Theodore P. (Theodore Perry), 1856-1919

Letter from Theodore Roosevelt to Corinne Roosevelt Robinson

Letter from Theodore Roosevelt to Corinne Roosevelt Robinson

President Roosevelt thanks his sister for her letter and writes that he has followed Monroe Douglas Robinson’s football activities through the newspapers. He writes about his sons’ activities in school and sports and mentions that Ethel Roosevelt is recovering after hospitalization. Roosevelt expresses concern about Douglas Robinson and gives his opinion on the current economic crisis.

Collection

Harvard College Library

Creation Date

1907-10-29

Creator(s)

Roosevelt, Theodore, 1858-1919

Letter from Theodore Roosevelt to Arthur Hamilton Lee

Letter from Theodore Roosevelt to Arthur Hamilton Lee

President Roosevelt is glad to have received Arthur Hamilton Lee’s letter. He does not need a rest and would rather stay in the fight, but a leader must understand those he serves and maintain their belief in his honesty. He has had to fight against both the mob mentality of the poor and the overwhelming wealth and greed of the powerful. Though his course of action did not cause the panic, it may have hurried its occurrence, and the press, mostly controlled by Wall Street, could sway the public toward William Randolph Hearst or William Jennings Bryan. Roosevelt continues striving to “keep the left center together.” There will likely not be any issue with Great Britain, and while issue could arise with Japan, the Pacific states, Australia, and British Columbia feel the same as the United States does. Roosevelt asks Lee to give an introduction to Fülöp Laszlo, the painter, to see if there will he time to have a portrait painted, as Lee requested.

Collection

Library of Congress Manuscript Division

Creation Date

1907-12-26

Creator(s)

Roosevelt, Theodore, 1858-1919

Letter from Theodore Roosevelt to Cecil Spring Rice

Letter from Theodore Roosevelt to Cecil Spring Rice

President Roosevelt would like to have Cecil Spring Rice visit him, but advises him to not leave a run in diplomatic service unless necessary. Roosevelt has fundamentally the same philosophy as Spring Rice, and hopes to avoid a race conflict such as Spring Rice worries about in the Pacific. Australia’s population is growing slowly, which worries Roosevelt, but the United States and Canadian populations are growing quickly enough that Roosevelt does not fear the threat of Asian dominance in North America. He does worry, however, about ongoing racial tensions and the weakening of the United States’ navy, which could threaten peace. While European civilization has spread over the globe in the past, it is impossible to say what will happen in the future. Domestically, Roosevelt is having a difficult time with the panic and the resulting depression and stagnation. Roosevelt believes that while the movement against corruption will ultimately succeed, even while those who lead it may seem to fail at present. He sends a copy of his message so Spring Rice might read his thoughts on the army and navy. Roosevelt feels it is abhorrent that many in Spring Rice’s country, and his own, have internalized an idea of peace in which good men should not make war, and in which advancement means a weakening of the fighting spirit.

Collection

Library of Congress Manuscript Division

Creation Date

1907-12-21

Creator(s)

Roosevelt, Theodore, 1858-1919

Letter from Theodore Roosevelt to David Gray

Letter from Theodore Roosevelt to David Gray

President Roosevelt thanks David Gray for his kind words about Kermit Roosevelt’s sportsmanship. He is glad Gray wrote about Algernon Edward Sartoris, as the situation has been troublesome. Roosevelt wanted to appoint him, but the situation was complicated and he has turned it over to Secretary of State Elihu Root. Gray’s agreement on the economic situation pleases Roosevelt, but he knows many are angry over the depression. He stands equally against union labor tyranny and capitalist tyranny, and hopes the newspapermen and reactionaries will not succeed in stoking a sentiment against him. Gray’s fox hunting is of great interest. Roosevelt now has two good hunting horses, replacing Old Bleistein, who has been retired to a buggy. He hopes Gray will visit, though he does not promise excitement.

Collection

Library of Congress Manuscript Division

Creation Date

1907-12-22

Creator(s)

Roosevelt, Theodore, 1858-1919

Letter from Theodore Roosevelt to Theodore Perry Shonts

Letter from Theodore Roosevelt to Theodore Perry Shonts

President Roosevelt tells Theodore Perry Shonts, Chairman of the Isthmian Canal Commission, that there is no need to tell the public that Roosevelt is “hostile only to the evil-doer,” as that should be self-evident. Roosevelt believes that if there is a financial depression it will happen because of the people who speculate on Wall Street and overdo things during times of prosperity, and that these sorts of people will never recognize their own responsibility in the matter.

Collection

Library of Congress Manuscript Division

Creation Date

1906-06-29

Creator(s)

Roosevelt, Theodore, 1858-1919

Letter from John Appleton Stewart to Theodore Roosevelt

Letter from John Appleton Stewart to Theodore Roosevelt

John Appleton Stewart has received information from a friend in publishing that many copies are already circulating of the pamphlet “The Roosevelt Panic of 1907” and Chancellor James Roscoe Day’s book The Raid on Prosperity. Large sums of money are being spent on disparaging advertising in magazines such as Business Men’s Magazine of Chicago. Stewart’s friend also left him a copy of Francis A. Adams’s book on Roosevelt, and asked for editorial advice. The New York Press refers to Stewart as a “third termer,” to which he takes exception. If he is in Washington, D.C., he would like to bring the publisher friend to speak to Roosevelt in person.

Collection

Library of Congress Manuscript Division

Creation Date

1907-12-26

Creator(s)

Stewart, John Appleton, 1865-1928

Letter from Nicholas Murray Butler to Theodore Roosevelt

Letter from Nicholas Murray Butler to Theodore Roosevelt

Columbia University President Butler discusses the ongoing economic panic and gives President Roosevelt advice on how to maintain a sound relationship between economic development and politics. Butler believes an adjustment to the tariff is necessary and suggests the Department of Commerce and Labor look into the matter. He feels that the “inanity” of Democratic Party leadership may allow Republicans to win the next presidential election, if they choose the right candidate. Though Secretary of War William H. Taft is well-regarded, there is not much enthusiasm for his candidacy. Butler may see Roosevelt in Washington, D.C., at the end of the week.

Collection

Library of Congress Manuscript Division

Creation Date

1907-09-23

Creator(s)

Butler, Nicholas Murray, 1862-1947

Letter from F. W. Taussig to Theodore Roosevelt

Letter from F. W. Taussig to Theodore Roosevelt

F. W. Taussig, a professor of economics at Harvard University, tells President Roosevelt that he disagrees with the view that the economic depression was caused by the government’s policy regarding the railroads. Taussig argues that speculation is a healthy sign for the economy and that the high rates on loans, which is chiefly responsible for slowing the growth of the railroads, are common at the end of a period of rising prices. Taussig assures Roosevelt of his support for the administration’s policies.

Collection

Library of Congress Manuscript Division

Creation Date

1907-04-26

Creator(s)

Taussig, F. W. (Frank William), 1859-1940