Gov. Strong Dined by Loan Workers
Title
Gov. Strong Dined by Loan Workers
Creator
Journal of Commerce
Identifier
WWP18655
Date
1919 May 29
Description
An article from the Journal of Commerce about a dinner in honor of Benjamin Strong Jr.
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
COPY ARTICLE IN JOURNAL OF COMMERCE - 5/29/19 GOV. STRONG DINED BY LOAN WORKERS
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EX-SEC’Y M’ADOO PRAISES THE FEDERAL RESERVE HEAD
____________
Many Bankers Present at Victory Dinner In the Waldorf-Astoria - Secretary Glass Unable to Attend
____________
Members of the Liberty Loan Organization gave a dinner in honor of Governor Benjamin Strong of the Second Federal Reserve District anfd the General Liberty Loan Committee at the Waldorf-Astoria last night. The dinner was held in recognition of Governor Strong’s services during the war loans, and he was given an enthusiastic reception.
Secretary of the Treasury Carter Glass, who was to have been one of the speakers, was unable to attend, and he was represented by Assistant Secretary of the Treasury Russell Leffingwell. The guests were Shepard Margan, James N. Wallace, Pierre Jay, Albert H. Wiggin, Mrs. John T. Pratt, Seward Prosser, Guy Emerson, George Foster Peabody, James S. Alexander, A. M. Anderson, who was toastmaster; William G. McAdoo, Allen B. Forbes, George W. Hodges, Jacob H. Schiff, Mrs. Courtlandt D. Barnes, Charles H. Sabine, Gates W. McGarragh, Frank R. Wilson, Walter E. Frew and Martin Vogel.
After the dinner there was an entertainment on a platform that had been improvised, and the diners were particularly pleased with the work of Miss Cecil Arden, of the Metropolitan Opera Company.
The principal address of the evening was made by ex-Secretary of the Treasury McAdoo, who not only complimented the Liberty Loan workers whom he commanded during four campaigns, but paid high tribute to Governor Strong. He said New Yrork had been called on to raise the largest amount of any locality because of its large population and vast financial resources.
Mr. McAdoo said that the occasion brought to his mind the recollection of the manner in which the idea of financing the war was conceived. He said that it was due to the fact that at one time he read a history of this country very carefully.
“When I read of the Civil War period, I was particularly interested in the way that the war was financed, and while I do not wish to criticise Mr. Chase, who was Secretary of the Treasury under President Lincoln, yet I always felt that he could have been more successful in financing the cause of the North, if he had made his appeal direct to the people.
“So when it appeared that war between this country and Germany was inevitable, I thought of what I had read in that history, and we decided to go to the people to raise the monehy that was to go toward equipping and maintaining the armies to fight the Kaiser. History will show that we were successful, and at this time I want to pay a tribute to the small investor and to the men and women who had to draw on their hard earnest savings in order to loan the funds to their Government.”
Mr. Leffingwell praised the work of Governor Strong as well as the members of the committee. Gov. Strong in responding referred to the co-operation that had been given to him by all the volunteer workers.
____________
EX-SEC’Y M’ADOO PRAISES THE FEDERAL RESERVE HEAD
____________
Many Bankers Present at Victory Dinner In the Waldorf-Astoria - Secretary Glass Unable to Attend
____________
Members of the Liberty Loan Organization gave a dinner in honor of Governor Benjamin Strong of the Second Federal Reserve District anfd the General Liberty Loan Committee at the Waldorf-Astoria last night. The dinner was held in recognition of Governor Strong’s services during the war loans, and he was given an enthusiastic reception.
Secretary of the Treasury Carter Glass, who was to have been one of the speakers, was unable to attend, and he was represented by Assistant Secretary of the Treasury Russell Leffingwell. The guests were Shepard Margan, James N. Wallace, Pierre Jay, Albert H. Wiggin, Mrs. John T. Pratt, Seward Prosser, Guy Emerson, George Foster Peabody, James S. Alexander, A. M. Anderson, who was toastmaster; William G. McAdoo, Allen B. Forbes, George W. Hodges, Jacob H. Schiff, Mrs. Courtlandt D. Barnes, Charles H. Sabine, Gates W. McGarragh, Frank R. Wilson, Walter E. Frew and Martin Vogel.
After the dinner there was an entertainment on a platform that had been improvised, and the diners were particularly pleased with the work of Miss Cecil Arden, of the Metropolitan Opera Company.
The principal address of the evening was made by ex-Secretary of the Treasury McAdoo, who not only complimented the Liberty Loan workers whom he commanded during four campaigns, but paid high tribute to Governor Strong. He said New Yrork had been called on to raise the largest amount of any locality because of its large population and vast financial resources.
Mr. McAdoo said that the occasion brought to his mind the recollection of the manner in which the idea of financing the war was conceived. He said that it was due to the fact that at one time he read a history of this country very carefully.
“When I read of the Civil War period, I was particularly interested in the way that the war was financed, and while I do not wish to criticise Mr. Chase, who was Secretary of the Treasury under President Lincoln, yet I always felt that he could have been more successful in financing the cause of the North, if he had made his appeal direct to the people.
“So when it appeared that war between this country and Germany was inevitable, I thought of what I had read in that history, and we decided to go to the people to raise the monehy that was to go toward equipping and maintaining the armies to fight the Kaiser. History will show that we were successful, and at this time I want to pay a tribute to the small investor and to the men and women who had to draw on their hard earnest savings in order to loan the funds to their Government.”
Mr. Leffingwell praised the work of Governor Strong as well as the members of the committee. Gov. Strong in responding referred to the co-operation that had been given to him by all the volunteer workers.
Original Format
Enclosure
Files
Collection
Citation
Journal of Commerce, “Gov. Strong Dined by Loan Workers,” 1919 May 29, WWP18655, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.