TLS as president, one page, 7 x 9, White House letterhead, July 16, 1915. Letter, written from Cornish, New Hampshire, to Frederic A. Delano, a member of the Federal Reserve Board. In full: “No apologies were necessary for sending me the very interesting memorandum enclosed of your letter of July second. I have read it with the greatest interest and it contributes not a little to my thinking on the very delicate and difficult situation we are now handling. I thank you sincerely for it.” A uniform shade of overall toning from previous display, otherwise fine condition.
Wilson’s reference of the “delicate situation” made here to Delano—the uncle of future president Franklin Delano Roosevelt—is the Federal Reserve Act, which provided the federal government with the money supply it badly needed. The new system began operations in 1915 and played a major role in financing the Allied forces during World War I. Interestingly, the Cornish, New Hampshire, postmark reflects one of the several summertime visits by Wilson to the home of author Winston Churchill.
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