Your TR Source
Theodore Roosevelt asserts to Mark Sullivan that all the money was paid to Panama and France regarding the creation of the Panama Canal. None of Roosevelt’s personal friends bought securities or speculated on the Canal.
Library of Congress Manuscript Division
1912-11-29
President Roosevelt congratulates Secretary of the Treasury Cortelyou on how he handled the current financial crisis. Roosevelt thinks Cortelyou’s conduct, as well as that of “conservative and substantial” business, has helped to head off the panic and has provided space to restore confidence. Roosevelt also condemns the speculation undermining the markets.
Library of Congress Manuscript Division
1907-10-25
A note by Secretary of Commerce and Labor Straus says that “bucket-shops cannot be distinguished from exchanges.” He notes that exchanges are “a civilized way of making a good living with least amount of work,” concluding “no bucket, no exchange.”
Library of Congress Manuscript Division
1908-03-21
Ludwig Nissen suggests that Secretary of the Treasury Shaw make an effort to stop newspapers from discrediting the economic policies of the administration. Nissen tells Shaw that newspapers should give him more credit for helping businessmen, rather than portraying him as helping speculators.
Library of Congress Manuscript Division
1906-10-24
Secretary of the Treasury Shaw hears that many banks are loaning surplus funds through New York brokers at high interest rates, which are then employed for speculation. He recognizes the legal right of banks to make loans knowing they will be used speculatively. However, he is not willing “that Government money shall be enticed away from the locality where it has been deposited” for such use. He advises depository banks to return excess funds to the Treasury.
Library of Congress Manuscript Division
1906-09-07
William Merrill Draper speaks out against Henry E. Davis, a candidate for Commissioner. Draper has evidence that Davis is a “recognized friend of the bucket-shops” and has legally represented their proprietors on several occasions. Draper does not believe that President Roosevelt would want such a man to be Commissioner.
Library of Congress Manuscript Division
1902-08-12