Word: warburgs
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Private fulminations and public carpings against the New Deal have become almost a routine of the business day. But only one banker has made himself notable for his self-dedication to the job of serious argument: James Paul ("Jimmy") Warburg, 38, author, smart son of a smart father, librettist husband of a tuneful wife, vice chairman of Bank of the Manhattan Co. Last week in Buffalo, Jimmy War burg concluded, with these words, the ablest of his many speeches...
...small pleasure for Jimmy Warburg to spend his talents thus attacking a liberal Administration. In the early days of the New Freedom, one of Woodrow Wilson's closest advisers was a German-born banker who gave up his rich private business to serve four years as a member of the first Federal Reserve Board. As Carter Glass is known as the father of Federal Reserve legislation, so the late great Paul Moritz Warburg is revered as the father of the Federal Reserve System...
Twenty years later his son, also German-born but brought to the U. S. as an infant, was a trusted adviser to another crusading Democratic President. In the first dizzy months of the New Deal, Jimmy Warburg was the only banking adviser the President had. The quick-witted, versatile young millionaire was no traditionalist himself. He admitted that silver might be useful. He recognized a maldistribution of wealth. Fact was, on all social questions he hewed close to the Roosevelt line. But, with nearly a century and a half of banking tradition behind him, Jimmy Warburg could not continue under...
Serious critics dubbed the book a "glorified tip sheet." Chief objection was to the fact that Major Angas interpreted the whole New Deal in terms of the Roosevelt monetary policies. Young Banker James P. Warburg, while ripping the Major's theories and monetary dogma to shreds and pointing out how superficial (and sometimes inaccurate) was the Major's knowledge of New Deal history, nevertheless declared: "It is the sort of literature which, more than anything else, will contribute toward a repetition of the 1929 disaster and toward making the present effort at controlled inflation end in a wild...
...Lachaise works are as huge as the one which went on exhibit last week. He has done a series of portrait heads of children, a graceful group of dolphins, several carvings of animals. His busts include e. e. cummings, Georgia O'Keeffe, Edward Warburg, Alfred Stieglitz. But whenever possible he likes to translate his own ideas into colossal terms. In halting, gesticulating English he explains that he tries to make the human figure "symbolic of growth everywhere in the world, to relate it to the immensity of the cosmos. Therefore my statue grows, it has to be big. I cannot...