William G. McAdoo to Benjamin Strong Jr.
Title
William G. McAdoo to Benjamin Strong Jr.
Creator
McAdoo, W. G. (William Gibbs), 1863-1941
Identifier
WWP18539
Date
1917 February 13
Description
William G. McAdoo writes to Benjamin Strong Jr. regarding currency reform.
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
Dear Mr. Strong:
Your letter of December 11th has been in the pile for a long time, but the pressure is so great here that I have been obliged to neglect my personal correspondence. I simply cannot keep up with it. I hope you are getting better rapidly and that you may soon be as fit as you ever were.
I note what you say about reform in the currency system. I do not know what specific things you have in mind, but shall be glad to have you write me fully.
As to the budget system: There is much irresponsible talk about a budget system, as many people who discuss it with me have no concrete ideas -- only vague and general views. There seems to be, in fact, a prevalent idea that something ought to be done and that the word “budget” sums up the remedy without any apparent conception as to how the remedy ought to be applied. Under our present form of government it will be most difficult to work out an effective budget system. I am in sympathy with the purpose and shall be glad to carefully consider any concrete views you have to offer.
I am dictating this letter in bed as I have been laid up with the grippe three or four days. I hope, however, to be out soon.
With kind regards, I am,
Sincerly yours,
Your letter of December 11th has been in the pile for a long time, but the pressure is so great here that I have been obliged to neglect my personal correspondence. I simply cannot keep up with it. I hope you are getting better rapidly and that you may soon be as fit as you ever were.
I note what you say about reform in the currency system. I do not know what specific things you have in mind, but shall be glad to have you write me fully.
As to the budget system: There is much irresponsible talk about a budget system, as many people who discuss it with me have no concrete ideas -- only vague and general views. There seems to be, in fact, a prevalent idea that something ought to be done and that the word “budget” sums up the remedy without any apparent conception as to how the remedy ought to be applied. Under our present form of government it will be most difficult to work out an effective budget system. I am in sympathy with the purpose and shall be glad to carefully consider any concrete views you have to offer.
I am dictating this letter in bed as I have been laid up with the grippe three or four days. I hope, however, to be out soon.
With kind regards, I am,
Sincerly yours,
Original Format
Letter
To
Strong, Benjamin, 1872-1928
Files
Collection
Citation
McAdoo, W. G. (William Gibbs), 1863-1941, “William G. McAdoo to Benjamin Strong Jr.,” 1917 February 13, WWP18539, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.