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...Cancellation or reduction of the interallied debts has been increasingly discussed throughout the world. ... I am firmly convinced it would be good business to initiate a reduction of these debts at this time." The attack on the tariff did Mr. Wiggin no good with the Hoover Administration. Since his remarks on the War debts, France has viewed him with suspicion as a probable believer in revision of the Treaty of Versailles...

Author: /time Magazine | Title: INTERNATIONAL: Nothing Resounding | 8/24/1931 | See Source »

Banking has always been Al Wiggin's trade. The son of a Unitarian minister in Massachusetts, he went to work in the local bank at 17. At 26 he could really call himself a banker: he was made assistant cashier. In 1899 ne went to New York and became vice president of National Park Bank. In 1904 he went to the Chase as a vice president, became its president seven years later...

Author: /time Magazine | Title: INTERNATIONAL: Nothing Resounding | 8/24/1931 | See Source »

...panic of 1907 showed his mettle. In those steep days the elder J. P. Morgan discovered two young bankers on whom he could rely: Henry Pomeroy Davison and Albert Henry Wiggin. Morgan's friend, old George Fisher Baker, agreed that they were mighty useful fellows. Davison, as the world knows, was received into the Morgan fold. Wiggin acquired a rarer distinction. True or false, legend in New York calls him the only man who ever refused a Morgan partnership...

Author: /time Magazine | Title: INTERNATIONAL: Nothing Resounding | 8/24/1931 | See Source »

...vice presidents, James H. Gannon and Joseph C. Rosensky, traveled to Basle with him. Shepard Morgan, another Chase vice president and an expert on Reparations (he was Seymour Parker Gilbert's assistant during the operation of the Dawes Plan) was in Germany, reporting to Mr. Wiggin separately...

Author: /time Magazine | Title: INTERNATIONAL: Nothing Resounding | 8/24/1931 | See Source »

...addition, heavy-set Gates W. Mc-Garrah, president of the Bank for International Settlements, is one of Mr. Wiggin's old friends. Often have they dined, motored, played golf together. Together they present the perfect embodiment of a pair of U. S. bankers as an anti-capitalist cartoonist would draw them. But about their minds, of course, there is nothing cartoonish. Nor are they hereditary exponents of Capitalism, but self-made representatives and leaders of a system in which all their countrymen have a stake...

Author: /time Magazine | Title: INTERNATIONAL: Nothing Resounding | 8/24/1931 | See Source »

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