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The Papers of Charles Hamlin (mss24661) 356 04 001- Hamlin, Charles S., Miscellany, Printed Matter, Newspaper and Magazine Articles, Nov. 1914 — May 1926, N.D. 1914. BALTIMORE,- MOSDkir 11)ORNING, NOVEMBER 9, THE SUN, • Governor Of Federal Reserve•Board CHARLES E. HAMLIN Better Business, To rollow, Says lifovernor Hamlin — By CHARLES 9:-IIA3iLl for two branches in South • America and Governor of. the Federal Reserve onrd., one ' on the Isthmus of:Panama. These The 12 Federal reserve banks will he 'branch bank.abroad -will be of the greatest ready for opening on November 10. It will .help to Aniericen-produtern and manufacmark a new era in blinking. At the °PO' turers, giving them banking facilities for lag the reserve banks will begin•operd- the traniaction of their growing cornGong with a paid-insapItal of about 010.- raerce•'throe d: 000,000 and reserve deposits of .abott Better 'business and financial conditions $250,000,000, will soon follow • the inauguration of the It has been 'inserted* that the aseets of new Federal reserve banking system these banks, when they begin operation- • The real difficulty at present would will give only a limited lending power. seem to be one of credit. Mutual trust should not be forgotten, however, that this and contidenCe have been disturbed. As lending power may be greatly Increased tir to., certain great stops,- the demand has the deposits of public moneys, which the ternporarily greatly decreased in conseSecretary of Treasury is authorised' tir quence of the .war,. and value has left its make under the Reserve Bank law. Dot moorings—the,cost of production. Ordican state with confidence that the Federal narily such a condition Would adjust itself reserve system at the outset will_inerease quickly. Remedies are tipw 'wing devised the lending power of the national and Fe4 by the banking interests with the co-operal reserve banks by some hundreds of eration of the Treasury Department and millions of dollars. • 1 other Government officials to adjust these I would like to emphasize the necessity conditions,- and with the cooperation of of establishing branches of our -national all those affected it.le believed the trouble banks in foreign countries. The Federal can he bridged over with a minimum of Reserve Board has amogoved applications damage and loss. • The Nation Oct. 14, 19151 ed. As vast theoretic command of variety in the prosody does not preclude its capture by monotony in practice, so the claim of universal freedom for the thought is found compatible with great, practical restrictions in the domains both of treatment and of matter. Metre and substance are like in their freedom to do anything, and their wish to do little. As imaginative power is denied to versification which strains every nerve in the pursuit of expressiveness, so imaginative clearness is vainly sought in a treatment which advertises its stress on the concrete and the pictorial. My power of comment on this crude invective is merged In thankfulness for its cessation. So consummate an exhibitor of his own follies robs his critics of their opportunity. Notes from the Capital ( GOVERNOR V 1 OF THE FEDERAL SERVE BOARD. RE- Before we get through with the various projects for raising additional revenue, now under consideration by the Administration, e shall probably hear more than heretofore of one of the few men in Washington who can accomplish a large quantity of important work with so little noise in the process that we well-nigh overlook their connection with it. Just at present he is paying close attention to another class of financial problems, for he is Governor of the Federal Reserve Board, and was chosen for that position because the system under which the Board operates is not only rather intricate, but still in its experimental stage, and a man was needed at its head who combined knowledge and experience with uncommon resourcefulness. His name is Charles Sumner Hamlin, and he hails, as one might guess from this fact, from the old Bay State. He was one of the little group of young men of spirit and antecedents whom Grover Cleveland inspired with a desire to take a turn in the public service; and In 1893, when he had been only ten years out of college, he was called to become an Assistant Secretary of the Treasury under Mr. Carlisle. It Is characteristic of Hamlin's methodical ways that, having been consulted almost continually during the framing of the Federal Reserve act, he should have put in his spare hours preparing a card index covering every feature, large or small, of that measure, so that to-day he holds the eel of banking by the tail. The same trait manifested itself at the outset of his political career, when, knowing that public speaking would have to be one of his weapons, but that he had an insufficient voice and would be thrown into a blue funk by heckling, he put himself at the disposal of the Massachusetts Democratic State Committee with the express stipulation that they would send him to speak, not In large cities and to fine audiences, but at the remoter points where only from ten to one hundred persons could be counted on at a meeting. That is the sort of audience that puts at, orator's powers to the supreme test, as ery one who has any experience at campaigning will testify. Hamlin met his ordeal 2 161 manfully, and with profitable results. His voice is not yet mighty, but it is trained to the highest efficiency that nature will permit, and quizzing interruptions have ceased By II. W. BOYNTON. to terrify him. The tariff has been a special hobby of Breaking-Point. By Michael Artzilmu3hef. Hamlin's from the day of his graduation at New York: B. W. Huebsch. Harvard. Of course he is a reformer, and President Cleveland's message of 1887 sound- The Genius. By Theodore Dreiser. New ed for him the very keynote of pure DemocYork: John Lane Co. racy. His enthusiasm for its subject-matThe Song.of the Lark. By Willa S. Cather. ter, moreover, was heightened by the circumBoston: Houghton Mifflin Co. stance that its author was conciously courtIt is the fashion just now to discredit the ing political ruin in listening to the dictates of conscience rather than the whispers word "realism" as a shabby counter of speech ot expediency, for there was a strong strain possessing little or no intrinsic value. In so of hero-worship in Hamlin. Incidentally to far as it confounds reality with mere detail, his study of the tariff as a revenue-producer, truth with fact for fact's sake, it is conwhich took on fresh energy thereafter, he temptible enough. But such confusion may was able to bring his ingenuity to bear upon as readily stultify'any other. term,"veritism" t e question of how to make the collection o Federal taxes most workable, and did it or what not, which we may try to substitute it th so much effect that the Republican Sen- for it; and a term we need. That airy nothleader, Nelson W. Aldrich, needing a col- ing to which the poet gives a local habitation a t: mrator on an administrative bill, took this and a name thereby becomes an embodiment t bust young Democrat Into partnership for of reality; and so may the "slice of life" in e job, ignoring his party affiliations for the hands of a creative artist. In most novI e sake of his special knowledge and ea- els of high merit, as in other works of art, a yet greater compliment both processes 1 city. But are involved. But they remain .alted him; for the High Priest of Protecdistinct processes; when in a given work t n, President McKinley, having observed one or the other conspicuously prevails, it is management of affairs as one of Cleve1 1: ul's Assistant Secretaries of the Treasury, convenient to use such labels as "romantic" g ve him an urgent, though vain, Invitation or "realistic." t remain in office. These three novels belong pretty clearly 11 of which indicates that Hamlin has to the second order. They are all strongly tact. He has, and affability, a comely face, bound to fact, though in different ways. In good taste in dress, a knowledge of the piano, "Sanine" M. Artzibashef conveys an imand a fair singing voice besides. With this pression of a force often morbid and brutal, equipment, it is not strange that he is a sobut still a force. "Breaking-Point" is a discial favorite, and accomplishes diplomaticalheartening example of that frantic and unly what he might never attain by a colorless discussion. How far he carries the graces of fruitful pessimism to which the Russian realpolite intercourse is illustrated by an incident ist has so often descended. This nightmare of his Treasury days In Cleveland's time. A of lust and despair and death is the more man with flowing side-whiskers entered the dreadful because of the intellectual energy Arsistant Secretary's office one morning relentlessly devoted to its weaving. The without the customary ushering by the mes- persons themselves, a galley of lost souls, senger posted at the door. His broad brow, harrow us because, despite their manias, the iron gray of his hair, the sweep of his their vices, their paltriness of conduct, we black frock coat, and his air of being at home cannot quite turn away from them as inhuanywhere, marked him, in Hamlin's eyes, as man. And their humanity is not that of unquestionably a distinguished member of the Canadian Ministry who had been for piteous ignorance. They think, they philsome time expected in Washington for a con- osophize, their minds torment them with ference on international issues. Hamlin cut the consciousness of their own enormity. short a letter he was dictating, and advanc- And the upshot of the thinking is that life ed with hand outstretched, a most effusive has no distinguishable meaning, and the smile, and cordiality enveloping him like a sooner one Is rid of it the better. cloud, to greet his guest, who, being stone The scene Is laid in a provincial village deaf, found it difficult to respond to these among the Steppes, remote, forlorn, shroudflattering overtures in appropriate terms. But he did understand the virtue of brevity in ed in dust. It has its wretched little society, explaining one's errand in a Government de- its handful of merchants and manufacturpartment. He was the official clock-winder ers, its garrison which is a grave for milia the Treasury, and he had called to make tary ambition. There are also a few attendsure that the timepiece on Hamlin's man- ant figures, Tchish the tutor, old Arnoldi tel was running right! the physician, and an unexplained exile or The Governor of the Reserve Board must two from the larger world, of whom young often bless the stars that blinked upon his Dchenieff the painter is chiefly important. christening. To bear about the surname of A perilous place: there are warnings from a noted Vice-President, linked with both the outset: "It is in such a gray hamlet," names of a majestic Senator, must keep bereads the first page, "rather than among fore him a pretty stiff ideal to live up to; hut how would he have liked It if his spon- blossoming trees, sun-lit mountain peaks, the sors in baptism had taken a fancy to per- azure of the sky, or in the midst of cities, petuate in him one or more of the names that those terrible thoughts must be born his Revolutionary ancestor, Major Eleazer which later enter the world to creep across Hamlin, bestowed on four sons: Europe, her face like the pale portentous ghost of Asia, Africa, and America? TATTLER. death." The dwellers In this fated spot Varieties of Realism NEW YO1?..7.ILIES ON FILE gelephone giies/t ../7PriS1 A1>ping Sgiweail reSSC/ip 3,52 ghiPd .APetu Ark TERMS: $35.— for 1000 clippings $11.— for 250 clippings $20.— for 500 clippings $ 5.— for 100 clippings Spacial rates on yearly contracts. av,,,,ry,twoeh,"nevyv '104' 11 va !ark 117** April lo fillitissicaaittraiaAGIdiallialaftilai01150101101110101"Asasisskswitstot CALL ON BUSINESS FOR UNITED ACTION Speakers at Chamber of Commerce Meeting Declare All Industry Must Work for War. HAMLIN SOUNDS WARNING Reserve Board Member Says War Will Not Be Won Until All Our Strength Is In Europe. I CilICAGO, April 10.—Spenking to more than 1,7,41./ delegates, annernbled nt the sixth Annual meeting of the Chamber of Commerce of the United States,. Charles S. Hamlin of the FedersI serve llostrd sn3 there would be. no victory in the world wet. until the entire strength of the United States Army 1111,1 Navy hnd been transferred to Europe. Ntr. Ilamlin spoke in the place of W. fl. McAdoo, Secretnry of the Treas. ry, who was unable to attend the meeting. it prematiire peace " Don't let tnlk "The mislead you.'• said Mr. mily peace we shall see will Itte dietnted Pershing tlenerni by Ttnrt large in a and the United Staten Army." The sposker dwelt upon Gc-rman a.trOcIties Rs n prime lesson why AmerJean business men should see the necesnity nf es:erting their full energies to aiding In the prosecution of the war. "Some.people say there were ntrocRies practiced by the Indians against II the whites." he said. " but. compared to Ile Kaiser, Sittin g Bull was a philanthropist.The estimAted cost. of the war, Mr. Hamlin said. hns been placed at 00o,orwi.ono normally. but 1133 run slightly b.dow that figure tor the first year. At present there Art+ it+ the Federal Reserve lianks $1,600,000,000 in gold. which, Accenting to Mr. 'Hamlin. Is moro thnii t ho gold reserve of the banks of fully. Spain, France, and England combined. Hurley Sends 1:reefing's. EdwArd N. iiii•lov, Chairman of the ShippIng Board. who VI* FLA scheduled to /peak. notified the chamber that an Important conference +yenta prevent his Appearante. Ills place, on the program was filled by Charles Plez, General Managor o! the Emergeney Fleet Corporation. Ntr. Hurley telegraphed: "I WAS FI.TIX1OUS 10 sdaress your orga.nization, RS p I believe you represent thitt class of Ize the _business forces back of shipbusiness men Who possess that broad building." The Committee on Industrial Relations patriotic,' wisdom of our country's af- also pointed out in its report 'to the fairs so lincessary during these trying chamber that' the difficulties of obtainwaf .notterialm had been 'Increased , feels that times. The *Shipping , ":f oftnt.,1° 1 1,;‘,„Zr everv metnber of the Chamber of Com- , metre of the United States takes a for workers,. and or' housing, each of of the highest importance to the• them perSonsi IntcreSt In its work." maintennnce of vital production. . Lucius Teter, President of'the Chicago "Industrial relations ere tne verY Association of Commerce, said in an ad- hinge-Joint of the war in which we'are engaged," said the. report. dress at the opening of the meeting: Dwelling upon the part which ?allot-, " As all people under the flag Come ploys in wer.. and the lernerequont:s to understand mere clearly their neces- necessity for the establishment of anti-1 sary part tit the conflict ot this hour, chble relations between ernployers'and cinployes. and proper worlang. condiwhether It be at the front, in the fac- tions, tho committee Sn'id that in two. tory. on the fa.rm, or in the home, we years the number of men at work in shell jOin Sa it nation in the motto, opr shipbuilding plants has 'increased wt1F—the 'I by lit least 7m+) per cent 'lard 'that fl:ri00 Cesir to Chicagoans—' fettories Are to-dsy st work trObn art• will' of national , Aspiration. victory, icles whit!' go into the construction of The constructive plans sugships. and An enduring pettec." gested hy the coMmitlee to 'instive ThdttsII. Goodwyn Fthett of Charleston. S. Iris I ',Otte and effioleney tneitided President of the chamber, said Abet nctreetrents that there should. be no the business man has furnished the cessation of production. that 'these be slipported and enforced leadership for the building of the Amer- agreements bv Execut lye authority. that There • ican Nation. should be control of causes 4eading heti, to unrest and provision tor concluWon ft. titne,* ndurlry end tW0a011 sive srbitral decisions regsrdirrg att.' en- ferences arising in -spite of preventseulless andS Only. ive. measures. theln '7110n ere, hiesilneNt meni hitnote new nobility siIt is not enoobu sayto turn his g e' of merica from militarism. luy an, ea• t port in prenerl foes that thnfrom n ot o me the hi ber Is to pe111W .to transforeclay sentiment—tninto POMP the wfthe lmr that willet to' , eyes to alO11!' W 10 heart i0 belt III Speed tr. the Neigh. men A .ehrillenge 16 American business that they, collectively And individually, Shipbuildup speed to bestir themselves ing, WAS lbe keynote Of an address +tethered by Edward A. rilene, Chnirinitn of the War Shipping Committee ot tht chi+ nther. "There are'enough 'men to telk abont the blame for delsy due to causes which the flovernment rah correct," said 'Mr. " Let 113 ernp1111511Ze the Marne thnt rests upon communities and the business men of these rommunities—and try to find a way to help. The problem Or ft 00111eilleCi 3111 effeeth e worktng not be solved force in our shipyards finally by rhetories1 preschments to the shipworkers At taPir taritheeil hear, but by the definite solution of the discourag;rig problems of bed housing, Inadequste transportation rtnd Infidel:Nate amusements. * "Whet can the business men of the United States do in thee* fields? The answer is two-fold. we can neo to it that our " lora! huslness organIzstions in averY community where ships or ship parts sre make It their being turned olit first business to organize themselves into an effective aid to shipbuilding. "Second. we %can help organize the cOmmunity behind the shipbuilding In Ith definite A. manner es we can organ- ALL NEW Y R IES ON FILE gelephone 71'01711 pesscapping Azreau us YePai 352 ghircl TERMS: Sit— for 250clippings P5.— for 1000 clippings $ 5.— for 100 clippings $20.— for 500 clippings Special rates on yearly contracts. To Represent Treasury nt Nationni Chamber Meeting. P.).—SecWASHINGTON, April 4 (by retary McAdoo to-day announced that he had appointed Charles S. of the Federal Reserve Board to represent the Treasury at the sixth annual meeting of the United Chamber of Commerce at Chidago next week. Secretary McAdoo said that he felt that the meeting would be helpful to the Liberty Loan campaign. and afford an excellent means of reaching the business men of the country with the message of the Government. This document is protected by copyright and has been removed. Author(s): Article Title: Merits Reappointment Journal Title: The Plain Dealer and Daily Leader Volume Number: Issue Number: Date: May 12, 1926 Page Numbers: 8 ELA 1-t PRACTICAL 6671 POLITICS CHARLES S. HAMLIN Massachusetts Man Selected by Pres. Wilson to be Governor of the Federal Reserve Board, One of the Bay State's Efficient Public Servants Who for Years Has Shown Brilliantly at Washington. United States government, states, municipalities. chambers of commerce end other trade organizations, corporations, railroads and Individuate—but no client has ever influenced or sought to influence his political opinion or acts. In Washington he is immensely popular, lie first broke into time limelight at Washington as a man of great capacity as long ago as the early 90s, when certain questions concerning administrative sections of the tariff law arose at the capital. Nelson W. Aldrich, senator from Rhode Island, leader of the senate and then its great authority on the tariff wrote to Massachusetts requesting that some one be sent to Washington who could assist him In drafting workable provisions. Mr. Hamlin went, he proved to be the man, he made a hit, there and then, with John G. Carlisle, then a senator, and when Carlisle went to the treasury portfolio he insisted that Hamlin should go with him. When he retired from the service of time government in 1897. after the inauguration of adminOne of the strong links that binds the demo- ington at the beginning of the present cracy of Massachusetts is Charles Sumner istration, an oMcial who knew his duty, did figure a part in not any and was well, that it links strongest ilamlin and one of the binds the. national democracy and the Wilson head or a rubber stamp. tile for a was candidate Hamlin 1892 In Mr. Bay the of democracy the to administration State is the same favorite and distinguished democratic nomination for governor, but was beaten by Col. Gaston. In 1910 he was the son of Massachusetts. of No more popular appointment has been made choice, beyond dispute, of a large majority year from the ranks of the democrats of this state tho democrats of Massachusetts. but that by postal card was Foss N. noniinated Eugene reserve federal time to Hamlin than that of Mr. board. Better still, the appointment was made after he had failed to carry the convention. Mr. liamlin believed that a candidate for on its merits and the man so honored is an honor to his party, whether in Massachusetts or any other state. The promotion of Mr. Hamlin from assistant secretary of the treasury to the federal reserve board and his designation by the president to governor of the board, first the be met with instant approval in his home state and is one that meets with unanimous approval from the wilds of Maine, where his ancestors came from, to the furthest point on the Pacific coast, where he is known officially as one of the best and most efficient men who ever sat in at the desk of the assistant secretary of the treasury. It is no idle boast to say that in taking the position Mr. HamIiin made a great personal sacrifice but it was made because of his admiration for Pres. Wilson. He was a Wilson man from the start and worked early and late for the success of Mr. Wilson as he has for every democratic presidential candidate with the exception of Bryan, the first time the latter ran in 1896. Mr. Hamlin did not believe In Mr. Bryan's 16 to 1 proposition at that time nor did he agree with his party .leaders in their condemnation of the supreme court, but that fight having ended he got back into the party traces and no man has worked harder or more disinterestedly for party success since than this same Charles S. Hamlin. Mr. Hamlin has had his differences with his party associates in Massachusetts, but they were honest differences and have not been carried beyond the party council or the state convention. Whether in victory or in defeat he has always been willing to show his colors and step up and take his medicine. As assistant secretary of the treasury, Mr. Hamlin, in the present administration and in the last Cleveland administration, has made good. He has not only made good officially, hut personally he is one of the most popular officials of either administration. He is not only able, but he is upright and as the Boston Globe speaking editorially said of him: "Charles Sumner Ilamlin of Massachusetts, who has been assistant secretary of the treasury under the present administration and was recently named by President Wilson as a member of the federal reserve board, which will direct the workings of the new banking and currency law, is to be immediately confirmed by the senate. "This is as it should be. . . If the new reserve board contains any man more highminded in public affairs than Mr. Hamlin the people of Massachusetts don't know him." Charles S. Hamlin is a Boston boy, born and bred. his father, like himself, was a native of Boston, and one of his direct ancestors was Maj. Hamlin of Harwich, who commanded a regiment in the revolution. Charles S. Hamlin 'attended the Boston schools, graduated from Roxbury Latin. in 1879. and from liarvard in governor should concern himself with state 1883, from the Harvard Law school in 1886. issues, and that platform itself was an answer In the university he was a friend, though not to the continuous chatter that he represented a classmate, of Theodore Roosevelt, but then, the reactionaries and the corporations. Perhaps the most striking paragraph in Mr. as now, he was a democrat, and then, as now, he held advanced and consistent grounds in Hamlin's platform of 1910 was this: "Vigorous opposition to the spirit of comhis democracy. He took an active part in politics from the mercialism which seeks to fasten itself upon time of his majority, and always a creditable our institutions, which holds up as an ideal part. He was an officer of the Young Men's the pursuit of wealth rather than happiness, Democratic club when that organization was which seems to be founded upon the conviction in Its zenith, he was working for tariff reform that money is all powerful and that every man as the secretary of the New England Tariff has his price, and which, if not repudiated, Reform league more than 20 years ago, and 21 threatens to undermine our institutions ani to years ago he accepted the democratic nomina- debase our national character." In 1912, as chairman of the committee on tion for secretary of the commonwealth, but was beaten, of course, because democratic sec- resolutions of the democratic state convention Mr. Hamlin reported one of the roost progresretaries were then not possible. In 1893, Pres. Cleveland appointed him as- sive platforms ever enacted by a democratic sistant secretary of the United States treasury, convention. Among its provisions was a clause and he was assigned by See. Carlisle to the calling for the acquisition by the state of the general direction and supervision of revenues shares of the Boston & Maine Railroad owned from customs, to the supervision of accounting by time Boston Railroad Holding company. Mr. Hamlin, during his busy career as a in the treasury department and to other work ef large importance. Ile returned to Wash- practicing lawyer has had many clients—the (9-1-4-112 ' Pres. McKinley, the latter, who knew and admired him, askel him to remain as assistant secretary of the treasury during his administration. On Mr. Hamlin's refusal the president appointed him a special commissioner of the United States to Japan. Later in the same year he was commissioner at the convention between Russia, Japan and the United States, and a commissioner at the convention between Great Britain and the United States to determine the seal fishery controversy. In 1898 he was made a member of the board of commissioners from Massachusetts for the Paris exposition In 1913 he was appointed by Gov. Fobs a member ef the metropolitan water and sewerage commission. Later in the year, as above stated, he was appointed assistant secretary of the United States treasury by President Wilson. Early in the year 1914 he was made fiscal assistant secretary and acting secretary of the treasury, and he has just been appointed a member orthe Federal Reserve board and designated by the president as the first governor thereof, -1
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