Carter Glass to Benjamin Strong Jr.
Title
Carter Glass to Benjamin Strong Jr.
Creator
Glass, Carter, 1858-1946
Identifier
WWP18762
Date
1919 December 31
Description
Carter Glass writes Benjamin Strong Jr. to say that he should quit his work for a season.
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
Personal
My dear Mr. Strong
Leffingwell handed me your letter just before my departure for Virginia and I placed it among others in my portmanteau in the hope that I would get time to write you while at home. The expectation was vain, because while there I was kept constantly occupied with other matters and was not left a moment for correspondence.
I was very genuinely distressed to learn of the state of your health and I sincerely trust that it may not prove as bad as the preliminary examinations appear to indicate. It seems a great pity that you have been compelled to fight for your life while serving your country so patriotically and effectively as you did in the war finance period and subsequently in the period of readjustment. However, I am encouraged to hope that you may win the fight and I think you are doing exactly right to conform strictly to the program enjoined by your physicians. You should quit work for a season and endeavor to dismiss all cares from your mind.
I would like you to understand that I fully appraise the value of the work you have done and that our differences upon questions of policy have not arisen through any distrust of your absolute sincerity. I have fundamentally disagreed with some of your conceptions of the Federal Reserve System and could never be induced to yield my judgment of such matters since I believe the very existence of the system as a benificent institution depends upon a strict adherence to the original intent of the law; but this is a difference of conviction and involves no sort of prejudice or dislike. Indeed, had I not liked you so much personally and so keenly appreciated your fine service I would long ago have made a sharp issue of our opposing views, for I put the Federal Reserve System as I have dreamed of it and worked with it above any other human interest. And I hold out to myself the expectation that when you shall have entirely recovered your health and are freed from the distractions and provocatives which are inevitable in such a situation you may find yourself in full accord with my interpretations of the provisions of the law and the purposes of those who contrived it.
Wishing you a speedy and full restoration, as well as happiness in the meanwhile, believe me,
My dear Mr. Strong
Leffingwell handed me your letter just before my departure for Virginia and I placed it among others in my portmanteau in the hope that I would get time to write you while at home. The expectation was vain, because while there I was kept constantly occupied with other matters and was not left a moment for correspondence.
I was very genuinely distressed to learn of the state of your health and I sincerely trust that it may not prove as bad as the preliminary examinations appear to indicate. It seems a great pity that you have been compelled to fight for your life while serving your country so patriotically and effectively as you did in the war finance period and subsequently in the period of readjustment. However, I am encouraged to hope that you may win the fight and I think you are doing exactly right to conform strictly to the program enjoined by your physicians. You should quit work for a season and endeavor to dismiss all cares from your mind.
I would like you to understand that I fully appraise the value of the work you have done and that our differences upon questions of policy have not arisen through any distrust of your absolute sincerity. I have fundamentally disagreed with some of your conceptions of the Federal Reserve System and could never be induced to yield my judgment of such matters since I believe the very existence of the system as a benificent institution depends upon a strict adherence to the original intent of the law; but this is a difference of conviction and involves no sort of prejudice or dislike. Indeed, had I not liked you so much personally and so keenly appreciated your fine service I would long ago have made a sharp issue of our opposing views, for I put the Federal Reserve System as I have dreamed of it and worked with it above any other human interest. And I hold out to myself the expectation that when you shall have entirely recovered your health and are freed from the distractions and provocatives which are inevitable in such a situation you may find yourself in full accord with my interpretations of the provisions of the law and the purposes of those who contrived it.
Wishing you a speedy and full restoration, as well as happiness in the meanwhile, believe me,
Original Format
Letter
To
Strong, Benjamin, 1872-1928
Files
Collection
Citation
Glass, Carter, 1858-1946 , “Carter Glass to Benjamin Strong Jr.,” 1919 December 31, WWP18762, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.