Each time the demure woman in the yellow shirtwaist dress intoned the tantalizing phrase "if I run," she was interrupted by a riotous chant: "Run, Pat, run! Run, Pat, run!" Not since the heady moment when Geraldine Ferraro was picked as the 1984 Democratic vice-presidential nominee had there been such spontaneous excitement among women activists.
In a matter of minutes after finishing her speech to the National Organization for Women in Philadelphia, Colorado Congresswoman Pat Schroeder, 47, had collected checks and pledges totaling $351,344, a sum that could make her eligible for federal matching funds if she decides to run for...