And what of his attitude toward those who came to the Executive offices to argue with him on some vital matter in which he had formed what appeared to be an unalterable judgment? Never did he assume the unfriendly or unyielding attitude of the doctrinaire or the man of a single idea. I recall a case in point. He was discussing the revenue situation with Representative Claude Kitchin of North Carolina, at a time when it was the subject of bitter controversy in the ranks of the Democratic party. The President and Mr. Kitchin held radically divergent views on this matter; the President sought to lead the party in one direction and Mr. Kitchin openly pursued an opposite course. I was present at this conference. No warm friendship existed between these two men; but there was never any evidence of hostility in the President's attitude toward Mr. Kitchin. He listened politely and with patience to every argument that Mr. Kitchin vigorously put forward to sustain his contention in the matter, and took without wincing the sledgehammer blows often dealt by Mr. Kitchin. The President replied to Mr. Kitchin's arguments in an open, frank manner and invited him to the fullest possible discussion of the matter. I recall the conclusion of this interview, when it seemed that, having driven the President from point to point, Mr. Kitchin was the victor. There was no disappointment or chagrin evident in the President's manner as he faced Mr. Kitchin to accept his defeat. He met it in true sportsmanlike fashion. At the conclusion of Mr. Kitchin's argument the President literally threw up his hands and said, quietly, without showing a trace of disappointment: "I surrender, Mr. Kitchin. You have beaten me. I shall inform my friends on the Hill that I was mistaken and shall instruct them, of course, to follow you in this matter." I could crowd this chapter with similar incidents, but it would be a work of supererogation. Never before was Mr. Wilson's open-minded desire to apply in practice the principle of common counsel better illustrated than in his handling of the important work in connection with the establishment of the Federal Reserve Act, the keystone of the great arch of the Democratic Administration. It was the first item in his programme to set business free in America and to establish it upon a firm and permanent basis. He aptly said to me, when he first discussed the basic reason for the legislation, he wished not only to set business free in America, but he desired also to take away from certain financial interests in the country the power they had unjustly exercised of "hazing" the Democratic party at every Presidential election.