Woodrow Wilson as I Know Him

by Joseph P. Tumulty

It seemed at times as if they had succeeded in blocking an agreement on the Conference Report. At last word was brought to the President by Representative Glass that the opposition of these gentlemen might succeed in killing the bill. The President up to this time, although fighting against great odds, showed no impatience or petulancy, but the message brought by Mr. Glass was the last straw. Looking at Mr. Glass, with a show of fire and in a voice that indicated the impatience he felt, the President said: "Glass, have you got the votes in the committee to override these gentlemen [meaning O'Gorman and Reed]?" Glass replied that he had. "Then," said the President, "outvote them, damn them, outvote them!"

Mr. McAdoo came to the White House a few days later to make a report about the situation in the Senate, with reference to the Federal Reserve Act. His report was most discouraging as to the final passage of the bill. He said that his information from the Hill was that the leaders of the opposition in the Senate were bent upon a filibuster and that the probabilities were that the Senate would finally adjourn without any action being taken on the Federal Reserve Act.

This conversation took place on the White House portico, which overlooks the beautiful Potomac and the hills of Virginia. It was one of the hottest days in June, a day which left all of us who were about the President low in spirit. Only those who know the depressing character of Washington's midsummer heat can understand the full significance of this statement. The President on this occasion was seated in an old-fashioned rocker, attired in a comfortable, cool-looking Palm Beach suit. Mr. McAdoo reported the situation in detail and said that, in his opinion, it was hopeless to try to do more with the bill: that an impasse had been reached between the Senate and the House. The President quickly interrupted Mr. McAdoo, saying, with a smile: "Mac, when the boys at Princeton came to me and told me they were going to lose a football game, they always lost. We must not lose this game; too much is involved. Please say to the gentlemen on the Hill who urge a postponement of this matter that Washington weather, especially in these days, fully agrees with me and that unless final action is taken on this measure at this session I will immediately call Congress in extraordinary session to act upon this matter." This challenge, brought to the Hill by Mr. McAdoo, quickly did the job and the bill was soon on its way to the White House.

Mr. Wilson conducted the conferences in this matter with friends and foes alike with a quiet mastery and good temper diametrically contrary to the reports sedulously circulated for political purposes, that he was autocratic and refused to cooperate with the members of the Senate and House in an effort to pass legislation in which the whole country was interested.

We have only to recall the previous attempts made by former administrations to legislate upon the currency question, especially the efforts of the Harrison and Cleveland administrations, to understand and appreciate the difficulties that lay in the path of Woodrow Wilson in his efforts to free the credit of the country from selfish control and to push this vital legislation to enactment. Previous attempts had always resulted in failure and sometimes in disaster to the administrations in control at the time. The only evidences of these frequent but abortive efforts to pass currency legislation were large and bulky volumes containing the hearings of the expensive Monetary Commission that had been set up by Senator Aldrich of Rhode Island. As an historian and man of affairs, Woodrow Wilson realized the difficulties and obstacles that lay in his path in attempting to reform the currency, but he was not in the least daunted by the magnitude of the task which confronted him. He moved cautiously forward and pressed for early action at the first session of the Congress following his inauguration. He realized that with the passage of the tariff legislation, which always acts as a business depressant, it was necessary at the same time to have the stimulus the Currency Bill would afford when enacted into law. The split of '96 in the Democratic ranks over the money question was an additional reason for cautious and well-considered action if the Federal Reserve Bill was to become a reality.

The presence of Mr. Bryan in the Cabinet and his well-known views on this question were strong reasons for watchful and careful prevision. It was obvious to Mr. Wilson from the outset that insurmountable difficulties lay in his path, but he brushed them aside as if they were inconsequential.

In the Committee on Banking and Currency, in both the Senate and House, were many ardent and devoted friends of Mr. Bryan, who thought that his radical views on the money question could be used as a rallying point for opposition to the President's plan for currency reform. But those who counted on Mr. Bryan's antagonism were doomed to disappointment and failure, for while it is true that Mr. Bryan found serious objections to certain parts of the bill, when these were eliminated he moved forward with the President in the most generous fashion and remained with him until the Federal Reserve Act was made part of the law of the land.

It was in a conference with members of the Banking and Currency Committee that I first saw the President in action with the gentlemen of the Senate and House. He had invited the Democratic members of the Banking and Currency Committee to confer with him in the Cabinet Room in the White House offices. From my desk in an anteroom I heard all the discussions of the bill. There was full, open discussion of the bill in all its phases at this conference in which were collected the conservatives of the East, the radicalists of the West, and those who came to be known as the "corn tassel" representatives of the South, all holding widely divergent views and representing every shade of opinion, some of it sharply antagonistic to the President's views. Some of the members were openly hostile to the President, even in a personal way, particularly one representative from the South, and some of the questions addressed to the President were ungracious to the verge of open insult. It was an exasperating experience, but Mr. Wilson stood the test with patience, betraying no resentment to impertinent questions, replying to every query with Chesterfieldian grace and affability, parrying every blow with courtesy and gentleness, gallantly ignoring the unfriendly tone and manifest unfairness of some of the questions, keeping himself strictly to the merits of the discussion, subordinating his personal feelings to the important public business under consideration, until all his interrogators were convinced of his sincerity and fair-mindedness and some were ashamed of their own ungracious bearing.

It was clear to me as I watched this great man in action on this trying occasion that in the cause he was defending he saw, with a vision unimpaired and a judgment unclouded by prejudice or prepossessions, far beyond the little room in which he was conferring. He saw the varied and pressing needs of a great nation labouring now under a currency system that held its resources as if in a strait-jacket. He saw in the old monetary system which had prevailed in the country for many years a prolific breeder of panic and financial distress. He saw the farmer of the West and South a plaything of Eastern financial interests. And thus, under the leadership of Woodrow Wilson was begun the first skirmish in the great battle to free the credit of the country from selfish control, a movement which led to the establishment of a financial system that ended for all time the danger or possibility of financial panic.

There was an interesting incident in connection with the handling of the currency legislation that brought about what threatened to be the first rift in the President's Cabinet. It concerned Mr. Bryan's attitude of opposition to certain features of the bill as drafted by the Banking and Currency Committee of the House. My connection with this particular affair arose in this way: In the early stages of the discussion of the Federal Reserve Act, and while Mr. Glass's committee was considering the matter, a messenger from the White House informed me that the President wished to confer with me in his study. As I walked into the room, I saw at once from his general attitude and expression that something serious was afoot and that he was very much distressed. Turning around in his chair he said: "It begins to look as if W. J. B. [he thus referred to Mr. Bryan] and I have come to the parting of the ways on the Currency Bill. He is opposed to the bank-note feature of the bill as drawn. We had a long discussion about the matter after Cabinet meeting to-day. In thoroughly kindly way Mr. Bryan informed me that he was opposed to that feature of the bill. Of course, you know, W. J. B. and I have never been in agreement on the money question. It is only fair, however, to say that in our discussion Mr. Bryan conducted himself in the most generous way, and I was deeply touched by his personal attitude of friendliness toward me. He even went so far as to say that in order that I might not be embarrassed in the handling of the bill, he was willing to resign and leave the country and make no public criticism of the measure. In the meantime, Mr. Bryan has promised to say nothing to any one about the matter until he has a further discussion with me."