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America's Money Machine

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The First Shock Wave 13<br />

cover his tracks he followed this up with a second letter in which he<br />

indirectly withdrew the invitation and threw on Harriman the initiative<br />

for the call. He wrote:<br />

Personal<br />

My dear Mr. Harriman:<br />

White House<br />

October 14, 1904<br />

A suggestion has come to me in a roundabout way that you do not think it<br />

wise to come on to see me in the closing weeks ofthe campaign, but that you<br />

are reluctant to refuse, inasmuch as I have asked you. Now, my dear sir, you<br />

and I are practical men, and you are on the ground and know the conditions<br />

better than I do. If you think there is any danger ofyour visit to me causing<br />

trouble, or if you think there is nothing special I should be informed about,<br />

or no matter in which I could give aid, ofcourse give up the visit for the time<br />

being, and then, a few weeks hence, before I write my message, I shall get<br />

you to come down to discuss certain government matters not connected with<br />

the campaign.<br />

With great regard,<br />

Sincerely yours,<br />

Theodore Roosevelt<br />

Harriman, no stickler for form, went to Washington and on his return<br />

to New York set about raising the $250,000 needed to meet the campaign<br />

deficit-contributing $50,000 of this sum himself.<br />

Between 1904 and 1906 the relations between Harriman and Roosevelt<br />

cooled to the point of distrust, and Harriman practically withdrew from<br />

party politics by refusing to contribute to the mid-term Congressional<br />

campaign. The reason offered by Harriman's biographers is that Roosevelt<br />

reneged on his promise to Harriman, for his 1904 rescue, to appoint<br />

Chauncey Depew as ambassador to France, but it may have been Roosevelt's<br />

increasing hostility to big business.*<br />

Roosevelt's reaction to Harriman's political defection was prompt and<br />

ferocious. When it was reported to him he sat down and wrote a letter<br />

to James S. Sherman, chairman of the Republican Congressional Committee,<br />

in which he charged Harriman with having attempted improper<br />

influence on the White House, called him "an undesirable citizen," "an<br />

*Depew was chairman of the board of the New York Central System and also Senator<br />

from New York. It is said that Harriman's interest in obtaining the ambassadorship for<br />

Depew was to get him out of New York State politics, because of his growing unpopularity<br />

(he lost the election in 1910); but it may have also been for reasons of railway politics.

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