Word: mellons
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Dates: during 1920-1929
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...suppose that Andrew William Mellon entertains a doubt of the Republican party's ability to elect its carefully considered candidate, whoever he may be, is to suppose that a methodical mathematician would introduce an unnecessary variable into an important equation. To Mr. Mellon, politics is not a game, where chances are cheerfully taken, but a calculation, where chances are eliminated by careful thought. A final formula having been adopted, the factors necessary to make it work out are, so far as possible, obtained and introduced. Doubt is not a helpful factor where a positive result is desired. So doubt...
Politics is not a game for Mr. Mellon for the reason that, unlike most public men but like many a great public man, he entered politics involuntarily and after experiencing extraordinary responsibilities in private life. A game is a thing you play. A duty is a thing you execute. Mr. Mellon has been an executive for nearly half a century. His father made him responsible for loans in the Mellon bank while he was still in his 'teens. Before he was 30, he was charged with administering his father's whole considerable estate. Thereafter he ruled and expanded...
...Mellon's first experience of politics was in 1920 when he read in the newspaper that he had been named as a delegate-at-large to the National Republican convention of that year at Chicago. His first act was to ask Judge James H. Reed, his lawyer, father of Pennsylvania's present Senator, if the thing might not be avoided. Judge Reed said yes, of course it could be avoided, but he advised Mr. Mellon to accept as a matter of public duty. Mr. Mellon said he expected to be very occupied that coming June. Judge Reed said...
...called Mellon Machine did not take form in western Pennsylvania until after the death of Boies Penrose in 1921, and when it did, Andrew William Mellon was its motive power, not its engineer. Outside of Pennsylvania, Mr. Mellon was politically unheard-of in 1920, when President Harding, at the suggestion of the late Philander Chase Knox, asked him to take over the national treasury, then 24 billions in debt...
...weight behind Mr. Mellon's presidential pronouncement this year was, of course, primarily the weight of "the greatest Secretary of the Treasury since Alexander Hamilton." Critics may well contend that the reductions of taxes and of public debt, and the funding of foreign loans that have been accomplished during the Mellon regime, could have been compassed by any other competent banker; that the Mellon genius is mythical and that between it and Prosperity, if any, there is not the remotest connection. But the politically important fact remains that Mr. Mellon and not some other banker has been...