Word: wiggineers
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Albert Henry Wiggin, Chairman of the Governing Board of Chase National Bank...
Quickly reporters began calling this assemblage the Wiggin Committee. What the Wiggin Committee was supposed to be doing was investigating, under the auspices of the Bank for International Settlement, 1) Germany's credit needs and 2) the likelihood of changing Germany's present short-term credits into long-term ones. On the first point, the Committee approached agreement that what Germany needed was renewal for six months of 5,000,000,000 marks ($1,187,500,000) which she already owed her creditor nations. It was soon seen that there was little likelihood of the committee doing much...
...Wiggin Committee seemed satisfied with trying to arrange what German editors called a "Stillstand Consortium," a formal agreement to leave all present foreign credits untouched in Germany for six months. France as usual objected. She thought three months was long enough, said French law does not permit a six months extension, but since France owns only about 5% of the foreign credits in Germany her objections this time did not carry the weight that they usually do. France finally agreed to a special formula for a three months renewable prolongation...
Albert Henry Wiggin, board chairman of Chase National Bank, passed silently through Paris last week on his way to Basle, refusing all interviews. The Chase is not only "biggest bank in the world," but it probably has the largest share of all U. S. investments in Germany, the greatest desire to restore German prosperity. French editors therefore regarded Banker Wiggin's coming (as U. S. member of the Bank for International Settlements' committee to study Germany's credit needs) somewhat sourly. Wrote the Journal des Debats: "This time the attempt which is being made is to hand...
...Basle Mr. Wiggin went into conference with B. I. S. President Gates W. McGarrah, emerged and was immediately elected President of the Committee. France had an able champion to tilt against him. Her delegate was canny Emile Moreau, onetime Governor of the Bank of France...