I believed in the people's rights, and therefore in National rights and States' rights just exactly to the degree in which they severally secured popular rights.

I believed in invoking the National power with absolute freedom for every National need; and I believed that the Constitution should be treated as the greatest document ever devised by the wit of man to aid a people in exercising every power necessary for its own betterment, and not as a straitjacket cunningly fashioned to strangle growth.

As for the particular methods of realizing these various beliefs, I was content to wait and see what method might be necessary in each given case as it arose; and I was certain that the cases would arise fast enough.
As the time for the Presidential nomination of 1904 drew near, it became evident that I was strong with the rank and file of the party, but that there was much opposition to me among many of the big political leaders, and especially among many of the Wall Street men.

A group of these men met in conference to organize this opposition.

It was to be done with complete secrecy.