Auction Date:2010 Aug 11 @ 22:00 (UTC-5 : EST/CDT)
Location:5 Rt 101A Suite 5, Amherst, New Hampshire, 03031, United States
ALS - Autograph Letter Signed
ANS - Autograph Note Signed
AQS - Autograph Quotation Signed
AMQS - Autograph Musical Quotation Signed
DS - Document Signed
FDC - First Day Cover
Inscribed - “Personalized”
ISP - Inscribed Signed Photograph
LS - Letter Signed
SP - Signed Photograph
TLS - Typed Letter Signed
Rare ALS as president, in pencil, signed “Aff[ectionatel]y, W. W.,” one page, 5.25 x 8, White House letterhead, no date. Letter to his Secretary of the Treasury, and son-in-law, William McAdoo. In full: “Dear Mac, I’m exceedingly sorry that I can’t see you to-day. I know what important things there are to discuss. I’ve promised to be in N.Y. by afternoon. We will take all the time we need on Monday. So glad you are out.” In fine condition.
McAdoo joined Wilson’s presidential campaign in 1912 and served as his secretary of the treasury from 1913 to 1918. When he married the president’s daughter, Eleanor Randolph Wilson, in 1914, he expressed concern over the appropriateness of the situation and offered to resign from the Cabinet—a suggestion Wilson declined. Instead, the president urged him to complete his work of turning the Federal Reserve System into an operational central bank and with sustaining the US economy during the outbreak of World War I in 1914. To that end, McAdoo ordering the New York Stock Exchange to close its doors in July 1914 to stop investors from cashing in their US-based assets for gold, and flooded the banking system with new currency to stop a run on the banks. To further bolster the economy, he arranged for a financial bailout of New York City, which owed huge sums to foreign creditors.
Alhough it is unknown what “important things” there were to discuss, eliciting a pledge “to be in N.Y. by afternoon,” and whether those time-consuming matters had to do with the war or financial instability, what is known is that handwritten letters from Wilson during his presidency are very rare, with less than a half dozen having appeared at major auctions during the past 25 years.
Auction Location:
5 Rt 101A Suite 5, Amherst, New Hampshire, 03031, United States
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