The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1916-06-19
PRAISE
IsGlVen Roosevelt By Financial Lead
ers For Refusing Nomination
Henry r. Davidson Says Unit
Ell Party Should Beat
Wilson.

New York, June 17-Henry p. David
son in a paragraph Enthusiastically
concise compacts what appears to be
the prevailing view in the financial
district of the presidential outlook, ex-
cepting that il is not the view of those
who favor the reelection of President
Wilson. Mr.. Davidson believes that
thorough cooperation is to be estab-
lished between the Republican and
Progressive parties, and that If it is es-
tablished it will be likely to defeat
President Wilson in the November
election. Mr.. Davidson also said a
word or two of Colonel Roosevelt, as
sorting that the latters action means
much not only to the United States but
to the world at large. 1t reveals pa
triotism OF the highest quality.
While, of course, the overwhelming
financial and commercial interest &C.
casioned by the European war and the
great wave of prosperity which now
covers the entire United State compels
absorbing interest among the leaders
in the financial district, nevertheless
they do turn aside for a moment or
two to speak of presidential politics.
There appears to have been some
change of political opinion in the f.
nancial district since the campaign of
1912. Many Of the leaders at that time
favored the election of Governor
Woodrow Wilson for President. The
friction which caused cleavage in the
Republican party four years ago split
the Republicans of the financial dis
ttrict. Something like apathy prevail
ed there among them, partly because
they regarded il as sure as anything
in politics would be that Governor Will
son, of New Jersey, would be chosen
President of the United States.
Although there does not appear now
TO be quite as visible a sentiment in ia
vor OF President Wilson's election as
prevailed four years ago. nevertheless
mention is always made of his pre-
eminent service in persuading Con-
gress TO enact legislation which created
our modernized banking system and
1.-THE Federal Reserve Board.
Federal Reserve Helped.
The leaders in international fnan.
ing have often said that the fortunate
establishment of the Federal Reserve
Board-and by a remarkable colnci-
dence a few weeks after the beginning
Of the European war-has done more
than any other influence to enable
American financiers and the banking
world of the United States TO meet sue
cessfully the new and absolutely orig
lnal problem which the war developed.
For a year and a half a change has
been observed in the attitude Of many
Of the leaders in the financial district
toward Colonel Roosevelt II was
strikingly manifested when Frank A.
VANDERBILT. President Of the National
City Bank. which is the banking repre-
sentative OF the Standard oil Company,
spoke for publication a few days ago
in favor OF the nomination OF Colonel
Roosevelt by the Republicans. so II
has been asked who would have VEN
tured the prediction four years ago
that the great forces OF the Standard
Oil Company would be found in 1916
recommending the nomination OF Col
onel Roosevelt by the Republicans?
II Colonel Roosevelt should hear, as
the undoubtedly will, what the leaders
in the financial district are saying
about what they call his patriotic
action last week. these comments
should perhaps compensate to some
extent for whatever disappointment he
may have had. II any in the results at
Chicago
Lawyers In the financial district
have nothing but praise for the pro-
fessional and intellectual qualifications
OF former Justice Charles Il. Hughes