I was in close touch with Mr. Wilson and all the phases of his campaign at the time, and on several occasions was asked to act as mediator in the differences between Mr. McAdoo and Mr. McCombs, and I am, therefore, in a position calmly to analyze and assess the reasons for McCombs' implacable hatred of Mr. McAdoo. I found that the motives which actuated McCombs were of the pettiest and meanest sort. At their base lay the realization that Mr. McAdoo had, by his gallant and helpful support of Mr. Wilson, won his admiration and deep respect, and now everything must be done by McCombs and his friends to destroy Mr. McAdoo in the estimation of the Democratic candidate for the Presidency. In the efforts put forth by McCombs and his friends to destroy Mr. Wilson's high opinion of Mr. McAdoo every contemptible and underhanded method was resorted to. Mr. McAdoo reacted to these unfair attacks in the most kindly and magnanimous way. Never for a single moment did he allow the McCombs campaign against him to stand in the way of Woodrow Wilson's advancement to the Presidency. During the whole time that Mr. McCombs was engaged in his vendetta, Mr. McAdoo was generous, gallant, big, and forgiving, even suggesting to the Democratic candidate, in my presence, that it might be wiser for him (McAdoo) to withdraw from the campaign, so that "things at headquarters might run easier and more smoothly." Mr. Wilson would not by any act of his permit the sniping methods of McCombs to be rewarded in the withdrawal of McAdoo from his campaign. After the election and when it was certain that McAdoo was being seriously considered for the post of Secretary of the Treasury, McCombs' jealousy began to exert itself in the most venomous way. He tried to persuade Mr. Wilson that the selection of Mr. McAdoo for the post of Secretary of the Treasury would be too much a recognition of the Wall Street point of view, and would be considered a repudiation of McCombs' leadership in the National Committee. The campaign of McCombs to prevent the nomination of Mr. McAdoo for a post in the Cabinet failed utterly. His poison brigade then gathered at the Shoreham Hotel in Washington on the day of the Inauguration and, attempting to reform their broken lines, now sought to prevent his confirmation at the hands of the Senate. Every agency of opposition that McCombs could invoke to accomplish this purpose was put into action, but like all his efforts against Mr. McAdoo they met with failure. Mr. McAdoo was confirmed and took his place as Secretary of the Treasury, where his constructive genius in matters of finance was soon brought into play, and under his magnificent leadership the foundation stones of the Federal Reserve system were laid, the fruitage of which is now being realized in every business throughout the country. Frequent conferences were held at Princeton with reference to the selection of the President's Cabinet, and in these conferences Colonel