The intimate papers of Colonel House arranged as a narrative by Charles Seymour.

170 INTIMATE PAPERS OF COLONEL HOUSE

careful investigation. What I mean is that their recommendations would be political, and therefore largely worthless.
'March 25, 1914: Houston, McAdoo, Williams, and I
[wrote House] discussed the division of the country into districts and the location of the regional reserve banks.
'In the evening the President and I dined alone and went
immediately to his study to have an old-time business session
in regard to the Federal Reserve Board. I found he had
added no names to those I had given him before I left for
Texas. We concluded, however, that I should get up some
new material and submit it to him next week, when he hopes
to be able to visit me in New York.'
Colonel House to the President
NEW YORK, April 3, 1914
DEAR GOVERNOR:
I am terribly disappointed that you could not come this
week, and more particularly since Mrs. Wilson's condition is
the cause.
I have been working assiduously towards getting a list of
suggestions to submit to you for the Federal Reserve Board.
Since you are not coming, I am enclosing them in this.
If Richard Olney would take the two-year term, it would
be fine, for Houston could then be appointed to succeed
him. I have asked a number of people whose opinions are
worth while, in regard to Olney, and they all approve it. I
do not know whether he would accept, but I have been told
that he might do so.
There are a number of names on the list that seem to me
admirable, but they would need a little more looking into.
If you will indicate the ones that appeal to you, I will investigate further....
Affectionately yours
E. M. HOUSE