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Financial institutions--Government policy

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Letter from Theodore Roosevelt to James Speyer

Letter from Theodore Roosevelt to James Speyer

President Roosevelt assures James Speyer that Secretary of the Treasury George B. Cortelyou, Secretary of State Elihu Root, and Assistant Secretary of State Robert Bacon reviewed the financial situation with him in detail. Acknowledging that he himself is not an expert in financial affairs, Roosevelt trusts that what Cortelyou has done to avert financial panic is “the only wise thing that could be done.”

Collection

Library of Congress Manuscript Division

Creation Date

1907-03-15

Creator(s)

Roosevelt, Theodore, 1858-1919

An appeal to the president

An appeal to the president

An article by Thomas E. Watson rails against the efforts of national bankers to replace the the Department of the Treasury issued notes which had historically been used to combat inflation with their own bank notes. Such a practice would give private banks full control over the financial state of the country and would only increase bankers’ wealth at the expense of the economy. Should President Roosevelt allow this to happen, he would prove himself a hypocrite and incapable of living up to his promises to fight the “malefactors of wealth” in the United States.

Collection

Library of Congress Manuscript Division

Creation Date

1907-11-10

Creator(s)

Watson, Thomas E. (Thomas Edward), 1856-1922