Benjamin Strong Jr. to Carter Glass
Title
Benjamin Strong Jr. to Carter Glass
Creator
Strong, Benjamin, 1872-1928
Identifier
WWP18798
Date
1922 September 25
Description
Benjamin Strong Jr. writes Carter Glass regarding a Federal Reserve bill, and the appointment of Fed Governor William Harding.
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
Dear Senator Glass:
Your letter of September 21 reached the office after I left last week for the week-end, and was only received this morning.The figures and a statement of the facts relating to the cost of our bank building are being put in shape, and I hope to send them to you in a day or two, together with a full statement in respect of salaries.We much appreciate the continued interest you have shown in these matters, and I shall see that complete information is in your hands as promptly as possible.The contention that a single bank in New York doing a larger business than ours is successfully conducted with 200 employees is perfectly ridiculous. He, of course, refers to the First National Bank, which can in no sense be compared to this bank, as every intelligent person must know.What you have heard from Senator Reed and Senator New is most encouraging. The President has never stated to me positively that he would nominate Governor Harding, but I had a clear intimation that he was likely to do so and that his hesitation had been somewhat induced or increased by advices that he had received that Governor Harding’s confirmation in the Senate was impossible, partly because of the plea which Senator Heflin might advance that Governor Harding was personally obnoxious to him. How could such a plea possibly prevail as to an appointment of this character any more than it could in the case of a Cabinet officer?Nevertheless, I have no doubt that Senator Heflin is liable to make exactly that opposition to the confirmation, but I have full confidence that your own influence and that of others who feel as you do will overcome even that difficulty.With warmest regards, believe me,
Your letter of September 21 reached the office after I left last week for the week-end, and was only received this morning.The figures and a statement of the facts relating to the cost of our bank building are being put in shape, and I hope to send them to you in a day or two, together with a full statement in respect of salaries.We much appreciate the continued interest you have shown in these matters, and I shall see that complete information is in your hands as promptly as possible.The contention that a single bank in New York doing a larger business than ours is successfully conducted with 200 employees is perfectly ridiculous. He, of course, refers to the First National Bank, which can in no sense be compared to this bank, as every intelligent person must know.What you have heard from Senator Reed and Senator New is most encouraging. The President has never stated to me positively that he would nominate Governor Harding, but I had a clear intimation that he was likely to do so and that his hesitation had been somewhat induced or increased by advices that he had received that Governor Harding’s confirmation in the Senate was impossible, partly because of the plea which Senator Heflin might advance that Governor Harding was personally obnoxious to him. How could such a plea possibly prevail as to an appointment of this character any more than it could in the case of a Cabinet officer?Nevertheless, I have no doubt that Senator Heflin is liable to make exactly that opposition to the confirmation, but I have full confidence that your own influence and that of others who feel as you do will overcome even that difficulty.With warmest regards, believe me,
Original Format
Letter
To
Glass, Carter, 1858-1946
Files
Collection
Citation
Strong, Benjamin, 1872-1928, “Benjamin Strong Jr. to Carter Glass,” 1922 September 25, WWP18798, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.