Benjamin Strong Jr. to William G. McAdoo
Title
Benjamin Strong Jr. to William G. McAdoo
Creator
Strong, Benjamin, 1872-1928
Identifier
WWP18487
Date
1914 November 9
Description
Benjamin Strong Jr. writes William G. McAdoo regarding the cotton loan fund.
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
WESTERN UNION
TELEGRAMNIGHTLETTER
Hon. WG McAdoo,
Secretary of the Treasury
William G. McAdoo,
Washington, D. C.
After full discussion with Wiggin believe considerable risk that New York subscribers to cotton loan fund may attempt in some cases to withdraw from present obligation if effort is made to increase amount. This may not be triue a little later, but am reluctantly obliged to recommend following Wiggin’s advice that nothing be done just now to obtain additional commitment here. He is willing to make another effort later this week having already done so with some of the large institutions without success last week. He and I both appreciate desirability of carrying out your suggestion and his reluctance to make another effort is entirely due to his fear of the consequences.
TELEGRAMNIGHTLETTER
Hon. WG McAdoo,
Secretary of the Treasury
William G. McAdoo,
Washington, D. C.
After full discussion with Wiggin believe considerable risk that New York subscribers to cotton loan fund may attempt in some cases to withdraw from present obligation if effort is made to increase amount. This may not be triue a little later, but am reluctantly obliged to recommend following Wiggin’s advice that nothing be done just now to obtain additional commitment here. He is willing to make another effort later this week having already done so with some of the large institutions without success last week. He and I both appreciate desirability of carrying out your suggestion and his reluctance to make another effort is entirely due to his fear of the consequences.
Original Format
Letter
To
McAdoo, W. G. (William Gibbs), 1863-1941
Files
Collection
Citation
Strong, Benjamin, 1872-1928, “Benjamin Strong Jr. to William G. McAdoo,” 1914 November 9, WWP18487, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.