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A Wall Street banker summarizes the Panic of 1907. They describe the weak banking laws which created the precarious conditions on Wall Street, and how J.P. Morgan & Co. took advantage of these conditions to achieve the “greatest financial confiscation the world has ever known.”
This was enclosed in a letter dated 27 September, 1911, but that letter states it was written during 1907.
Theodore Roosevelt informs Hugh Gordon Miller that he is correct that Roosevelt is not running for mayor. Roosevelt is also pleased with Miller’s statement about the “Wickersham – New York, New Haven and Hartford” matter. Roosevelt had given the New York, New Haven and Hartford Railroad “permission” to buy a line of steamships to prevent Charlie Morse from having a monopoly. This in no way affects the actions of President William H. Taft.
Library of Congress Manuscript Division
1912-12-04
President Roosevelt appreciates Judge Cohen’s letter. The conviction of Charlie Morse was “one of the finest things that has recently happened.”
Library of Congress Manuscript Division
1908-11-09
President Roosevelt congratulates Henry L. Stimson on the conviction of Charlie Morse. He also invites Stimson to a dinner he is holding for people interested in labor issues.
Library of Congress Manuscript Division
1908-11-07
In response to Colonel Thompson’s letter and petition on behalf of Alfred H. Curtis, President of the National Bank of North America, President Roosevelt sends letters from Attorney General Charles J. Bonaparte and the District Attorney. Roosevelt believes that it is clear that Curtis is guilty and says that if Curtis were truly deceived by Charlie Morse, he would have no issue in testifying against him. Even though Curtis was vouched for by a number of different prominent men, Roosevelt says that this is evidence that these sorts of men tend to stick together because of business and social ties.
Library of Congress Manuscript Division
1908-08-15
President Roosevelt praises Edward P. Moxey’s exceptional service as a bank examiner, saying he has been of great help in the prosecution of several cases across the country.
Library of Congress Manuscript Division
1908-06-13
President Roosevelt is surprised at what Senator Lodge says about Edward Henry Harriman, and notes that he is skeptical of the motives of Charles S. Mellen and T. E. Byrnes in light of their actions against Charlie Morse during a steamboat merger several years ago. Lodge’s letter is so private that Roosevelt does not want to bring it to Attorney General Charles J. Bonaparte, and asks Lodge or any other people concerned to send another letter which can be put on file at the Department of Justice. In a handwritten postscript, Roosevelt offers sympathy and concern in light of the news that Lodge’s sister is dying.
Library of Congress Manuscript Division
1908-05-28
President Roosevelt diagnoses the root cause of the current financial crisis as the public’s lack of confidence caused by the revelations of corrupt practices among several prominent businessmen. In fact, Roosevelt believes such a crisis was inevitable in light of dishonest business practices, and that his policies merely exposed them sooner than expected. Despite this, Roosevelt cannot regret his decisions and can only resolve to do what he can to restore confidence.
Library of Congress Manuscript Division
1907-11-16
President Roosevelt tells Alexander Lambert that whether or not he is responsible for the current financial panic, he will be held responsible for it. Roosevelt is not sure if he can do anything to allay the panic, but he will not abandon his anti-trust policies. He believes that imprisoning just a few men, such as Charlie Morse, Augustus Heinze, and Charles T. Barney (who died of self-inflicted wounds on 14 November 1907) would accomplish more than anything else. Roosevelt thanks Lambert for forwarding the bear skins to the taxidermist John Murgatroyd, and is anxious to be done with the bear hunting article he is working on.
Library of Congress Manuscript Division
1907-11-01
Memorandum outlines the history of the ice trust case and lawsuits involving Charlie Morse.
Library of Congress Manuscript Division
1901-1909
President Taft rejects the application for clemency filed on behalf of Charles W. Morse, following the recommendations of the Attorney-General. In coming to this conclusion, Taft compares the case of Morse with the case of John R. Walsh, convicted for a similar–if less severe–crime.
Library of Congress Manuscript Division
1911-05-24
Referring to the libel case against the New York World, District Attorney Stimson agrees with President Roosevelt’s view that it is important to prosecute the “man at the top.” However, Stimson feels that even though Joseph Pulitzer can be suspected as knowing about the libel, there is not enough evidence to actually indict him. If the federal government’s case against Pulitzer is thrown out by the courts, it would cause any future successful prosecutions against the company or the actually responsible individual to lose its significance.
Library of Congress Manuscript Division
1909-02-11
Douglas Robinson praises President Roosevelt for his last message, and he thinks it was justified and necessary. His favorite cousin, D. F. Davidson, has been staying with Robinson and Corinne Roosevelt Robinson. Davidson and his wife will be in Washington before they return to Scotland, and Robinson asks if they might call on Roosevelt and Edith Kermit Carow Roosevelt. Record contains handwritten letter and typed transcription.
Library of Congress Manuscript Division
1908-02-06
Senator Lodge updates President Roosevelt on the investigation of the New York and New Haven Railroad, the New York and New England lease, and new steamship routes.
Library of Congress Manuscript Division
1907-08-17
Senator Lodge shares with President Roosevelt the points he went over with Assistant Attorney General Alford Warriner Cooley and District Attorney Asa P. French regarding the investigation of the New York, New Haven, and Hartford Railroad Company and Charlie Morse’s supposed steamship monopoly deal. Lodge discusses his concerns about the severe decline in stocks, the possibility of a financial panic, and the potential impact on future election results.
Library of Congress Manuscript Division
1907-08-12
Assistant Attorney General Cooley recounts a conversation he had with Martin A. Knapp regarding a meeting with Charles S. Mellen of the New York, New Haven, and Hartford Railroad Company. At a meeting at the White House at which Roosevelt was present, Mellen seemed unsure if keeping steamship lines operated by his railroad might violate the Sherman Antitrust Act. Knapp’s recollection was that Roosevelt declined to express an opinion in the matter. In light of this, Cooley sees no reason not to proceed.
Library of Congress Manuscript Division
1907-08-03