reached London. The gathering represented all that was most distinguished in the official and diplomatic life of the British capital. The word was rapidly passed from guest to guest, and the American Ambassador and his wife soon found themselves the centre of a company which could hardly restrain itself in expressing its admiration for the United States. Never in the history of the country had American prestige stood so high as that night. The King and the Prime Minister were especially affected by this display of fair-dealing in Washington. The slight commercial advantage which Great Britain had obtained was not the thought which was uppermost in everybody's mind. The thing which really moved these assembled statesmen and diplomats was the fact that something new had appeared in the history of legislative chambers. A great nation had committed an outrageous wrong-that was something that had happened many times before in all countries. But the unprecedented thing was that this same nation had exposed its fault boldly to the world-had lifted up its hands and said, "We have sinned!", and then had publicly undone its error. Proud as Page had always been of his country, that moment was perhaps the most triumphant in his life. The action of Congress emphasized all that he had been saying of the ideals of the United States, and gave point to his arguments that justice and honor and right, and not temporary selfish interest, should control the foreign policy of any nation which really claimed to be enlightened. The general feeling of Great Britain was perhaps best expressed

by the remark made to Mrs. Page, on this occasion, by Lady D:

"The United States has set a high standard for all nations to live up to. I don't believe that there is any other nation that would have done it."

One significant feature of this great episode was the act of Congress in accepting the President's statement that the repeal of the Panama discrimination was a necessary preliminary to

the success of the American foreign policy. Mr. Wilson's declaration, that, unless this legislation should be repealed, he would not "know how to deal with other matters of even greater delicacy and nearer consequence" had puzzled Congress and the country. The debates show the keenest curiosity as to what the President had in mind. The newspapers turned the matter over and over, without obtaining any clew to the mystery. Some thought that the President had planned to intervene in Mexico, and that the tolls legislation was the consideration demanded by Great Britain for a free hand in this matter. But this correspondence has already demolished that theory. Others thought that Japan was in some way involved-but that explanation also failed to satisfy.

Congress accepted the President's statement trustfully and blindly, and passed the askedfor legislation. Up to the present moment this passage in the Presidential message has been unexplained. Page's papers, however, disclose what seems to be a satisfactory solution to the mystery, and they suggest that this question of "greater delicacy" was not unrelated to the colossal tragedy which was at that moment overhanging Europe and the world.

W

ILSON'S nomination in 1912 was equivalent to an election. The split in the Republican Party made this a foregone conclusion. They forgot the interests of the country in a bitter internal struggle for the control of their party machinery. Roosevelt, furiously ambitious to regain his power, was pitted against the old organization bosses, who were determined to retain possession of the party. Led by Penrose they were lost in an implacable rage against the "rebel" who had once unhorsed them in the party councils. To them the election of a President became a secondary matter. The supremely important issue was the control of their party machinery. Penrose and his fellow bosses felt that their future-their very existence as political leaders-was at stake. If Roosevelt made good his position, that the Independents ought to continue to control the mechanism of the party (as they had controlled it during his tenure of office), what did it profit Penrose and his kind to build up their state machines, only to be balked of the supreme prize of national ascendancy? They would, like Othello, find their occupation gone. With the fury of men blinded by hatred and ambition, they preferred to wreck the party's chances for the next four years if, by so doing, they could destroy the Roosevelt rebellion against their domination.

I really felt that my own connection with the campaign was at an end. With the Presidency thus secure by reason of the Republicans' internecine quarrel, we Democrats were in the position of a Plaint: who had simply to go through the formality of entering judgment by default and take possession of the government on behalf of the people.

I had never participated in the active work

the

of a campaign, and it did not appeal to me to do so. The offer made me by McCombs to become chairman of the Finance Committee I had promptly declined, as I thought that if I had anything to do with the finances of the National Democratic Committee, I should be treasurer. So I prepared to spend the summer in the Adirondacks. But the day that I was to take my family to mountains, I motored down to Sea Girt to bid Governor Wilson good-by. The Governor had not yet come down to breakfast, and, as I had to take an early train to make my connection for the mountains, I was about to leave when word came down from him requesting me to wait a few minutes longer, as he was anxious to see me. Shortly afterward he came down the steps, as sprightly and active as a man of thirty, full of energy and determination. When I told him I had come to say good-by to him, he was surprised and concerned.

"This is a great disappointment to me," said Governor Wilson. "I had hoped that you would accept the position of chairman of the Finance Committee. This is a new position which I have asked the National Committee to create especially for you, and I had relied upon your willingness to accept it and render me a great service."

I told the Governor that I was disinclined to be merely a money collector, and unless I was appointed treasurer, or a member of the Campaign Committee, I should not care to participate in the campaign. The Governor answered:

"Of course I expect you to be a member of the Campaign Committee, and I still hope that I can persuade you to accept the chairmanship of the Finance Committee. My idea is that in this campaign the chairman of the Finance Committee will have to perform the

At the Waldorf-Astoria Hotel in New York on April 13, 1912. At the speakers' table Governor Wilson, as he then was, appears just to the left and under the por trait of Thomas Jefferson. At the same table to the right from him among others are: Governor Dix of New York, William Jennings Bryan, Senator O'Gorman, and the late Mayor Gaynor of New York City. Just before the diners sat down to this banquet Governor Wilson introduced Mr. Morgenthau to the late Walter H. Page -the first of a series of meetings which later resulted in Mr. Morgenthau's appointment as chairman of the Finance Committee of the Democratic Campaign Committee

functions of the president of a bank, directing the larger financial policies and protecting me against mistakes of accepting moneys from improper sources.

The treasurer should correspond to the cashier. He should be the custodian of the funds and have charge of the clerical and bookkeeping details.

"I shall insist that no contributions whatever be even indirectly accepted from any corporation. I want especial attention paid to the small contributors. And I want great care exercised over the way the money is spent. These duties will call for an unusual degree of ingenuity and resourcefulness. I would not ask you to undertake this task if I didn't think you had the imagination to accomplish it; and I would not expect you to accept it if I did not think it would be interesting to a man of your experience and ability."

The Governor seemed so genuinely concerned and showed so clearly that he dreaded facing another financial canvass after the frequent worries he had endured from this source in his

pre-nomination fight, that I could no longer resist. I accepted, and added:

"I shall take a few days to settle my family in the Adirondacks; then I shall return and get to work. And now, Governor, having accepted the responsibility, I want to assure you that you may dismiss all thoughts of finance from your mind from now until election."

The Governor took my hand and held it while he said:

"You do not realize what a load you have lifted from my shoulders. I can now devote myself entirely to campaigning and to my duties as Governor."

I considered the discussion closed and was about to leave, when the Governor detained me. "One thing more," he said. "There are three rich men in the Democratic Party whose political affiliations are so unworthy that I shall depend on you personally to see that none of their money is used for my campaign!"

I gave him my assurance, and he gave me their names. This was the only occasion on