“Gentlemen, I am glad to bring you a response which I hope will be satisfactory,” responded Wharton. “As it is a matter of considerable importance, I have brought it in writing, and with your permission I will read it to you.” There was silent assent, and Wharton read as follows: “We have received the request preferred by you through Mr. Wharton, and also his report of the views expressed at this morning’s conference. We are in heartiest accord with all that was said at that meeting. We affirm again what Mr. Wharton there said in our behalf--that it is our sincere desire to promote in every way in our power the best welfare of the financial, commercial, and industrial world. We recognize completely the vital importance of coöperation to that end, and we accept thankfully the implied offer which the sentiments expressed this morning convey. “Three months ago the country seemed to be on the verge of great financial and other economic disasters. It appeared to us to be a wise thing to ward off the blow by using a large quantity of gold then in our hands to support the general market for stocks and bonds. It also seemed desirable in our judgment to encourage trade by adding liberally to the current supply of ready money. A free purchase of securities was the only feasible way to accomplish this end. The result has been a very substantial rise in prices. We realize as keenly as anybody can do that a return of public confidence is still essential to a sound and healthy improvement of general trade. We cannot supply that lack. It is more in your power to do so than in ours. We have no doubt you will gladly undertake this duty, provided you are convinced of the honesty of our intentions in pending transactions, and of our ability to execute any policy we may adopt. “There are difficulties in the way of proving our good faith and demonstrating the further strength of our resources, but we hope they are not insuperable. The greatest obstacle lies in the fact that, for personal and other good reasons, we wish to escape the notoriety that attaches to great wealth. This makes it necessary to conceal also the source of that wealth and its exact amount. Reserving these points, we are ready to coöperate heartily in the best policy the situation may demand. It seems to us advisable, for the present at least, to continue the support of the market on about the existing basis. We shall be glad to receive your advice upon this point. To demonstrate our ability to maintain prices, we will deposit at the government Assay Office within the coming week additional gold to the value of one hundred millions of dollars. We note especially the warning of the secretary of the treasury against the dangers of a too rapid increase in the circulating medium. We shall endeavor to avoid doing serious mischief in that way, and we crave your advice upon that point also.