unspeakably rich; they pay enormous taxes, but they pay them out of their incomes, not out of their principal, except their inheritance tax.  That looks to me as if it came out of the principal. . . .

     I hope you had a good time in Texas and escaped some cold weather. 
     This deceptive sort of winter here is grippe-laden.  I’ve had the
     thing, but I’m now getting over it. . . .

     This Benton[57]-Mexican business is causing great excitement here.

     Always heartily yours,
     W.H.P.

P.S.  There’s nothing like the President.  By George! the passage of the arbitration treaty (renewal) almost right off the bat, and apparently the tolls discrimination coming presently to its repeal!  Sir Edward Grey remarked to me yesterday:  “Things are clearing up!” I came near saying to him:  “Have you any miracles in mind that you’d like to see worked?” Wilson stock is at a high premium on this side of the water in spite of the momentary impatience caused by Benton’s death.

     W.H.P.

From Edward M. House 145 East 35th Street, New York City.  April 19th, 1914.

     DEAR PAGE: 

I have had a long talk with Mr. Laughlin[58].  At first he thought I would not have more than one chance in a million to do anything with the Kaiser, but after talking with him further, he concluded that I would have a fairly good sporting chance.  I have about concluded to take it.

     If I can do anything, I can do it in a few days.  I was with the
     President most of last week. . . .

He spoke of your letters to him and to me as being classics, and said they were the best letters, as far as he knew, that any one had ever written.  Of course you know how heartily I concur in this.  He said that sometime they should be published.

The President is now crystallizing his mind in regard to the Federal Reserve Board, and if you are not to remain in London, then he would probably put Houston on the Board and ask you to take the Secretaryship of Agriculture.

     You have no idea the feeling that is being aroused by the tolls
     question.  The Hearst papers are screaming at all of us every day. 
     They have at last honoured me with their abuse. . . .

     With love and best wishes, I am,

     Faithfully yours,

     E.M.  HOUSE.

     From Edward M. House

     145 East 35th Street,
     New York City. 
     April 20th, 1914.

     Dear Page: 

     . . .  It is our purpose to sail on the Imperator, May 16th, and go
     directly to Germany.  I expect to be there a week or more, but Mrs.
     House will reach London by the 1st or 2nd of June. . . .