Louis working papers are preliminary materials circulated to stimulate discussion and critical comment.
Robert Hale, London - - ISBN 0 [there are some minor typographical errors in this transcription] On a bright May morning inwhile young Americans were dying on the Italian beachheads, Thomas Harrington McKittrick, American president of the Nazi-controlled Bank for International Settlements in Basle, Switzerland, arrived at his office to preside over a fourth annual meeting in time of war.
Gold that had been looted from the national banks of Austria, Holland, Belgium, and Czechoslovakia, or melted down from the Reichsbank holding of the teeth fillings, spectacle frames, cigarette cases and lighters, and wedding rings of the murdered Jews.
Its existence was inspired by Hjalmar Horace Greeley Schacht, Nazi Minister of Economics and president of the Reichsbank, part of whose early upbringing was in Brooklyn, and who had powerful Wall Street connections.
Established under the Morgan banker Owen D. The Bank soon turned out to be the instrument of an opposite function. Among the directors under Thomas H. Farben, Baron Kurt von Schroder, head of the J. Stein Bank of Cologne and a leading officer and financier of the Gestapo; Dr.
Walther Funk of the Reichsbank, and, of course, Emil Puhl. His successor was the forty-three-year-old Leon Fraser, a colorful former newspaper reporter on the muckraking NewYork World, a street-corner soapbox orator, straw-hat company director, and performer in drag in stage comedies.
Fraser had little or no background in finance or economics, but he had numerous contacts in high business circles and a passionate dedication to the world of money that acknowledged no loyalties or frontiers.
Other directors of the Bank added to the powerful financial group. Vincenzo Azzolini was the accomplished governor of the Bank of Italy. Yves Breart de Boisanger was the ruthlessly ambitious governor of the Bank of France; Alexandre Galopin of the Belgian banking fraternity was to be murdered in by the Underground as a Nazi collaborator.
Secretary of the Treasury Henry Morgenthau, a deliberate, thorough, slow-speaking Jewish farmer who, despite, his origins of wealth, mistrusted big money and power.
A model of integrity obsessed with work, Morgenthau considered it his duty to expose corruption wherever he found it. He learned early in life that the land was his answer to the quest for a decent life in a corrupt society. He became obsessed with farming and, at the age of twenty-two, inborrowed money form his father to buy a thousand acres at East Fishkill, Dutchess County, New York, in the Hudson Valley, where he became Franklin D.
During World War I he and Roosevelt formed an intimate friendship. Elinor Morgenthau became very close to her near namesake, Eleanor Roosevelt.
While Roosevelt soared in the political stratosphere, Morgenthau remained rooted in his property. In the early s he published a newspaper called The American Agriculturist that pushed for government credits for farmers.
Morgenthau showed great flair and a passionate commitment to the cause of the sharecropper. Legend has it that on a freezing winter day inFDR and Morgenthau met and talked on the borderline of their two farms. Morgenthau is supposed to have said to Roosevelt, "Life is getting slow around here".
Close to a thousand volumes of his official diaries in the Roosevelt Memorial Library at Hyde Park give a vivid portrait of his inspired conducting of his high office. He was aided by an able staff, which he ran with benign but military precision.
Unlike Morgenthau, White came form humble origins.The Policy Research Working Paper Series disseminates findings of work in progress to encourage the exchange of ideas about development issues.
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Federal Reserve Bank of St. Louis Working Papers are preliminary materials circulated to stimulate discussion and critical comment.
Working papers In-depth studies for experts. Our Working Paper Series (WPS) disseminates economic research relevant to the various tasks and functions of the ECB, and provides a conceptual and empirical basis for grupobittia.com Working Papers constitute “work in progress”. The Policy Research Talks showcase the latest findings of the research department and their implications for World Bank operations.
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