Your TR Source
James L. Davenport informs Theodore Roosevelt that all reasonable men believe the actions Roosevelt took while President in regards to the Tennessee Iron and Coal company were the right steps and prevented a financial panic.
Library of Congress Manuscript Division
1911-11-17
President Roosevelt describes the actions he took to give public warning for the suit so as to mitigate any disastrous fluctuations in the market.
Library of Congress Manuscript Division
1902-02-26
Secretary of War Taft reviews the history of a proposed meeting between President Roosevelt and representatives of railroad interests. Banker Harry Bowly Hollins, being “fearful of a financial panic through the country,” believed that public confidence could be restored by President Roosevelt meeting with representatives of the railroads about their adherence to the Rate Bill. At first, it was thought the meeting should be with railroad presidents, but subsequently, a meeting with J. Pierpont Morgan was deemed to be better. Having discussed the proposal with Roosevelt, Taft relayed the latter’s doubts about the usefulness of such a meeting, but that he was willing to meet with Morgan, as long as everyone understood it was not at his request.
Library of Congress Manuscript Division
1907-03-11
President Roosevelt admonishes Charles E. Knoblauch that he should not show anyone his correspondence with Roosevelt unless he has complete confidence in them, as it appears that someone betrayed his trust regarding the confidentiality of a previous letter. Roosevelt reminds Knoblauch that he is not responsible for any bills introduced in Congress, and the only one that he has been involved with is the one against bucket shops.
Library of Congress Manuscript Division
1908-03-08
William O. Manson rails against Wall Street issuing “worthless watered stocks” that are then used to borrow money. He believes that preventing these stocks would end financial panics and the need for a protective tariff.
Library of Congress Manuscript Division
1911-11-11
Seth Low forwards President Roosevelt a letter from Samuel Gompers, and comments on discussions he has recently had with many people about a bill currently under consideration. The present bill is very important to both the business and labor community, and Low is trying to navigate between the two forces.
Library of Congress Manuscript Division
1908-03-07
Attorney General Bonaparte encloses a letter and a memorandum from Milton Dwight Purdy, along with Bonaparte’s own memorandum commenting on Purdy’s work on the Sherman Act in the wake of the Panic of 1907.
Library of Congress Manuscript Division
1907-11-06
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.
Library of Congress Manuscript Division
1906-09-13
President Roosevelt responds to criticisms that the current financial crisis was caused by his economic policies. Roosevelt argues that he does not believe that his policies have contributed to the crisis, but even if they had he would still stand by them. The policies were created to enforce a “golden rule in business” by preventing unscrupulous wealth acquisition and ensuring that those with wealth use it ethically, which will in the long term create a stronger nation.
Library of Congress Manuscript Division
1907-10-23
Given the increasingly interconnected nature of the world’s financial markets, prominent economist Luigi Luzzatti has called for an international conference to reform international banking. Issues at hand would be the prevention and mitigation of financial crises, the establishment of a central bank in the United States, and modernizing England’s financial systems. Luzzatti hopes that eventually a permanent international monetary commission could be formed.
Library of Congress Manuscript Division
1907-11-15