In the draft of a letter marked “Canceled” at the top, President Roosevelt tells Secretary of the Treasury Cortelyou he approves the issuing of currency and Panama bonds as proposed. Roosevelt has also received word of a currency bill being considered in Congress that would help settle the situation. He emphasizes, however, that business conditions in the United States are still fundamentally sound, and that citizens should not panic and stop trusting banks, or start hoarding savings. As long as people go about their business as usual, everything will be fine and circulation will return to normal.
Collection
Library of Congress Manuscript Division
Creation Date
1907-11-16