Lot #42

Franklin D. Roosevelt

Description

FDR fears a run on his bank—“Many of the accounts were what they termed ‘political’”

TLS, one page, 7.25 x 10.5, Fidelity and Deposit Company of Maryland letterhead, December 2, 1924. Letter to Julian Goldman, in part: “I had a talk with the head of a down-town Trust Company the other day and he told me that his company had considered the acquisition of the up-town bank we were discussing and that they decided not to purchase it because, on analysis so many of the accounts were what they termed ‘political’ that they were afraid most of these would be withdrawn in the event of a change of ownership. That is something worth looking into. I am on the look-out for a young man and though I have heard of several none of them would be satisfactory. If you have not got one yet I will call up Judge Mahoney and Judge Proskauer this week as both of them are comparatively young themselves and might know of someone who would fit in.” In fine condition, with staple holes and slight creasing to upper left corner, and one light vertical fold passing through a single letter of the signature. Both judges mentioned were quite prominent in the New York political circles that FDR was familiar with—as a private lawyer, Joseph M. Proskauer been an advisor and speech writer during Alfred E. Smith’s successful campaign for governor, and Governor Smith appointed him to the New York Supreme Court in 1923. Jeremiah T. Mahoney was friends with FDR and was a delegate to the Democratic National Convention seven times between 1920 and 1952. He also served as president of the Amateur Athletic Union and led efforts to boycott the 1936 Olympics in Nazi Germany, a subject President Roosevelt did not comment on. A fascinating letter considering the political impact of the judges mentioned. Pre-certified John Reznikoff/PSA/DNA.

Auction Info

• Auction Title: Fine Autographs and Artifacts
• Dates: #444 - Ended January 14, 2015

This item is Pre-Certified by PSA/DNA
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