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Committee was not yet constituted, as it stripped him of the obligation to confer (
An Adventure in Constructive Finance,
93–94).
    the director of the U.S. Mint: George Evan Roberts to Glass, March 13, 1913, Glass Collection, Box 14; and Willis,
The Federal Reserve System,
209.
    Willis warned Glass: Willis to Carter Glass, March 13, 1913, Willis Papers, Box 20.
    relaunch the Money Trust inquiry: Samuel Untermyer to House, March 13, 1913, House Papers, Box 112; House to Samuel Untermyer, March 17, 1913, ibid.; and Samuel Untermyer to House, March 31, 1913, ibid.
    House took an interest in the banking bill: Charles Seymour,
The Intimate Papers of Colonel House, Arranged as a Narrative by Charles Seymour
(Boston: Houghton Mifflin, 1928), 161, citing House diary entries of March 13 (re Vanderlip) and March 27, 1913 (re Morgan). Warburg wrote frequently to House: see his letters of January 6, January 16, and February 18, 1913, in House Papers, Box 114a.
    He also took Glass: House diary entry of March 25, 1913, in
The Papers of Woodrow Wilson,
27:227.
    “whip the Glass measure into final shape”: Ibid.
    “the same consideration as any other”: House diary entries of March 22 and March 24, 1913, in ibid., 215, 223.
    McAdoo carried far more weight: Cooper,
Woodrow Wilson,
193.
    his “friendship” with Wilson: Vanderlip to James Stillman, April. 26, 1913, Frank A. Vanderlip Papers, Box 1-5.
    “We all feel that it behooves”: J. P. Morgan Jr. to James Stillman, March 12, 1913, J. P. Morgan Jr. Papers, Book 11.
    Nelson Aldrich and his family: “European trip, 1913. The Morgans. Lucy Aldrich to Lucy Greene,” Aldrich Papers, Reel 61. For Aldrich art purchases, see A. Imbert to Aldrich, March 21, March 25, and March 31, 1913, ibid., Reel 47.
    “a revision of the currency and banking laws”: Page is quoted is Vincent P. Carosso,
The Morgans: Private International Bankers, 1854–1913
(Cambridge, Mass.: Harvard University Press, 1987), 646.
    “The king is dead”: Vanderlip to James Stillman, April 4, 1913, Vanderlip Papers, Box b1-5.
    CHAPTER TWELVE : THE “SLIME OF BRYANISM”
    “The germinal principle”: “Banking Under Federal Control,”
The New York Times,
June 20, 1913.
    “The banks may be the instruments”: Arthur S. Link,
Woodrow Wilson and the Progressive Era, 1910–1917
(New York: Harper and Row), 48.
    The United States of 1913: Data on Model Ts available at www.mtfca.com/encyclo/fdprod.htm; for the New York Stock Exchange, see Lance F. Davis,
International Capital Markets and American Economic Growth: 1820–1914
(New York: Cambridge University Press, 1994), 63. The rising propensity of people to deposit money in banks is a persistent theme of Milton Friedman and Anna Jacobson Schwartz,
A Monetary History of the United States, 1867–1960
(Princeton, N.J.: Princeton University Press, 1971); see, for instance, 15, 56–68, 122, and 164. Andrew Frame,
Elastic Currency
(Philadelphia: Annals of American Academy of Political Science, 1908), 12, states that individual deposits tripled from 1890 to 1908, to nearly $18 billion. By 1914, total deposits topped $21 billion—see Federal Reserve Bank of St. Louis, “Banking and Monetary Statistics, 1914–1941,” 17, a report available at http://fraser.stlouisfed.org/docs/publications/bms/1914-1941/BMS14-41_complete.pdf.
    bankers increasingly distrusted: Vanderlip to James Stillman, May 12, 1913, Frank A. Vanderlip Papers, Box 1-5.
    “Currency should be based on credit”: William P. Goodwin,
Money, Credit Currency, and a Currency Plan
(Providence, R.I., 1910), 11.
    “educates the people who use it”: “Report of the Monetary Commission to the Executive Committee of the Indianapolis Monetary Convention” (1897), 40; available at openLibrary.org.
    Wilson was in a position to dominate: Link,
Wilson and the Progressive Era,
35.
    “even the semblance of privilege”: “Congress Cheers Greet Wilson,”
The New York Times,
April 9, 1913. For the reversal of custom,