The President then frankly discussed with me the effect of the possible resignation of Mr. Bryan. The President suggested that I drop in on Mr. Bryan very soon and if possible casually invite a discussion of the Federal Reserve Act, telling Mr. Bryan of his [the President's] interests in it, and how much he appreciated Mr. Bryan's personal attitude toward him.

I realized the seriousness and delicacy of the situation I was asked to handle, and, being on the friendliest terms with Mr. Bryan, I telephoned him and invited myself to his home—the old Logan Mansion, a beautiful place in the northwest part of Washington. I found Mr. Bryan alone when I arrived. We went at once to his library and, in a boyish way, he showed me a picture which the President had autographed for him only a few days previous. As we stood before this picture Mr. Bryan gave expression to his sincere admiration and affection for the President. He related, with deep feeling, how much Mr. Bryan had enjoyed his contact and official companionship with him and how he had come to have a very deep affection for him. As we turned away from the picture, he grew serious and began the discussion of the very thing the President and I had conferred on only a few hours before. He freely discussed his differences with the President over the Federal Reserve Act, and asked me the direct question: "Who from Wall Street has been discussing this bill with the President? I am afraid that some of the President's friends have been emphasizing too much the view of Wall Street in their conferences with the President on this bill." I frankly told Mr. Bryan that this imputation did a great injustice to the fine men with whom the President conferred on the matter of banking reform and that I was certain that the President's only intimate advisers in this matter were Mr. McAdoo, Senator Owen of Oklahoma, and Mr. Glass of Virginia, and that I personally knew that in their discussions the President never argued the point of view of the Eastern financial interests. Mr. Bryan was reassured by my statement and proceeded to lay before me his objections to the character of the currency issue provided for in the bill. He then took from the library shelves a volume containing all the Democratic National platforms and read excerpts from them bearing upon the question of currency reform. He soon convinced me that there was great merit in his contention. Before leaving him, I told him of my interview with the President and how deeply distressed he [the President] was that Mr. Bryan was not disposed to support him in the matter of the Federal Reserve Act. It was evident that Mr. Bryan felt a keen sympathy for the President and that he was honestly trying to find a way out of his difficulties that would enable him to give the President his whole-hearted support. He showed real emotion when I disclosed to him the personal feelings of the President toward him, and I feel sure I left him in a more agreeable frame of mind. I told him that I would talk with the President, Mr. McAdoo, and Mr. Glass and report to him on the following day.

I returned to the President's study and reported to him in detail the results of my conference with Mr. Bryan. I called his attention to Mr. Bryan's criticism of the bill and then ventured the opinion that Mr. Bryan, according to the traditional policy of the Democratic party, was right in his attitude and that I felt that he [Mr. Wilson] was wrong. For a moment the President showed a little impatience with this statement and asked me to point out to him where the party in the National platforms had ever taken the view Mr. Bryan indicated in his discussion with me. I then showed him the book Mr. Bryan had given me, containing the Democratic platforms, and he read very carefully plank after plank on the currency. He finally closed the book, placed it on his desk, and said: "I am convinced there is a great deal in what Mr. Bryan says." We then discussed ways of adjusting the matter. I finally suggested that the President allow me to talk with Mr. Glass and place before him Mr. Bryan's position and that he have Mr. Glass confer with Secretary McAdoo and Senator Owen. This was arranged. I had no way of ascertaining just what took place at this conference, but after the Cabinet meeting on the following Tuesday Mr. Bryan walked around to where the President was sitting, and said to him: "Mr. President, we have settled our differences and you may rely upon me to remain with you to the end of the fight." The President thanked him cordially, and thus the first break in the Cabinet line was averted.

CHAPTER XXIII

RENOMINATED

As the days of the 1916 Convention at St. Louis approached, it was a foregone conclusion that there would be no serious contender against the President for the nomination and that he would win the prize by a practically unanimous vote. While at times the friends of Mr. Bryan and Mr. Clark were hopeful that the President might withdraw from the contest, after the Democrats at the Convention were assured that the President was ready to accept a renomination, the field was made clear for the setting of the Convention stage to accomplish that end.

It was thought that the St. Louis Convention would be a trite affair; that there would be no enthusiasm in it. This anticipation arose from the idea expressed by many of the devoted friends of the Democratic party, that the cause of Democracy in 1916 was little less than hopeless. Much of this feeling came from the inordinately high estimate which many placed upon Mr. Justice Hughes both as a candidate and as a campaigner. Indeed, many Democrats who had canvassed the national situation felt that without a continuation of the split in the ranks of the Republican party the road to Democratic success was indeed a hard and difficult one to travel.

There is no doubt that in the opinion of the country Mr. Justice Hughes was the strongest man the Republicans could put forward. The fact that he was resigning from the Supreme Court bench and that he had a remarkably progressive record as Governor of New York added a glamour and prestige to this nomination. I, myself, never lost confidence, however, in our ability to win. The Congressional elections of 1914, when the Democratic majority in the House was reduced to thirty-five, had dispirited Democratic friends throughout the country and made them feel that the nomination at St. Louis would be a purely formal matter and without fruitful results.

In a letter addressed to Colonel Harvey in 1914 I had expressed the opinion that the reduced Democratic majority in the Congressional elections of 1914, which was being construed as an apparent defeat of the party, was not a final judgment upon the work of the President and the achievements of his administration; that it was not a reversal irretrievable in character; that it should not depress the Democratic workers throughout the country, and that the field of conquest for the Democratic party in 1916 was the West and the Pacific coast. A calm analysis of the election results in 1914 convinced me that if the Presidential election of 1916 was to be won, our efforts for victory had to be concentrated upon a cultivation of sentiment throughout the West in favour of the Democratic cause.

My letter to Colonel Harvey is as follows: