James Warburg
Encyclopedia
James Paul Warburg was an American banker and financial adviser to Franklin D. Roosevelt
. His father was Paul Warburg
.
, Warburg was educated at Middlesex School
and Harvard University
. He served in the Navy Flying Corps during World War I
before entering a career in business. He was at the First National Bank of Boston between 1919 and 1921. Between 1921 and 1929 he was Vice President at the International Acceptance Bank. He was president at the International Manhattan Company from 1929 to 1931, then president of the International Acceptance Bank from 1931 to 1932. He was Vice Chairman of the Board at the Bank of Manhattan Company between 1932 and 1935.
While at the Bank of Manhattan, from 1932 to 1934, he became financial adviser to President Roosevelt. This included acting as financial adviser at the 1933 London World Economic Conference
.
Warburg left government in 1934, having come to oppose certain policies of the New Deal
. He was opposed to political 'isolationism
' however, and re-entered government service in 1941 as Special Assistant to the Coordinator of Information
, William Joseph Donovan
. In 1942, when propaganda responsibilities were transferred to the Office of War Information
, he became its Overseas Branch Deputy Director. He joined the Society for the Prevention of World War III
, a lobby group working for a harsh peace for Germany.
In 1963, along with Sears
heir, Philip Stern, he helped to found the Washington
-based Institute for Policy Studies
.
Warburg married the composer and musician Kay Swift
in 1918, but they divorced in late 1934 as a consequence of her long involvement with George Gershwin
. They had three daughters between 1919 and 1924. Warburg married his 2nd wife Phyllis Baldwin in 1935. Warburg married his 3rd wife Joan Melber on Sep 6, 1948 and had son a Philip Neff Warburg. James is also the grandfather of novelist Katharine Weber
. Under the pseudonym Paul James he wrote the lyrics to Swift's 1929 hit song "Can't We Be Friends?" and their 1930 musical, Fine and Dandy, which introduced the song "Fine And Dandy
".
Warburg was a member of the Council on Foreign Relations
. He has gained some notoriety for the following quote: "We shall have world government, whether or not we like it. The question is only whether world government will be achieved by consent or by conquest." (Feb. 17, 1950, to the United States Senate Committee on Foreign Relations
)
Franklin D. Roosevelt
Franklin Delano Roosevelt , also known by his initials, FDR, was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war...
. His father was Paul Warburg
Paul Warburg
Paul Moritz Warburg was a German-born American banker and early advocate of the U.S. Federal Reserve system.- Early life :...
.
Biography
Born in HamburgHamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
, Warburg was educated at Middlesex School
Middlesex School
Middlesex School is an independent secondary school for grades 9 - 12 located in Concord, Massachusetts. It was founded in 1901 by a Roxbury Latin School alumnus, Frederick Winsor, who headed the school until 1937. Winsor set up a National Scholarship Program for the school, the first of its kind...
and Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
. He served in the Navy Flying Corps during World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
before entering a career in business. He was at the First National Bank of Boston between 1919 and 1921. Between 1921 and 1929 he was Vice President at the International Acceptance Bank. He was president at the International Manhattan Company from 1929 to 1931, then president of the International Acceptance Bank from 1931 to 1932. He was Vice Chairman of the Board at the Bank of Manhattan Company between 1932 and 1935.
While at the Bank of Manhattan, from 1932 to 1934, he became financial adviser to President Roosevelt. This included acting as financial adviser at the 1933 London World Economic Conference
London Economic Conference
The London Economic Conference was a meeting of representatives of 66 nations from June 12 to July 27, 1933, at the Geological Museum in London. Its purpose was to win agreement on measures to fight global depression, revive international trade, and stabilize currency exchange rates.The Conference...
.
Warburg left government in 1934, having come to oppose certain policies of the New Deal
New Deal
The New Deal was a series of economic programs implemented in the United States between 1933 and 1936. They were passed by the U.S. Congress during the first term of President Franklin D. Roosevelt. The programs were Roosevelt's responses to the Great Depression, and focused on what historians call...
. He was opposed to political 'isolationism
Isolationism
Isolationism is the policy or doctrine of isolating one's country from the affairs of other nations by declining to enter into alliances, foreign economic commitments, international agreements, etc., seeking to devote the entire efforts of one's country to its own advancement and remain at peace by...
' however, and re-entered government service in 1941 as Special Assistant to the Coordinator of Information
Office of the Coordinator of Information
The Office of the Coordinator of Information was an intelligence and propaganda agency of the United States Government, founded on July 11, 1941 by President Franklin D. Roosevelt, prior to U.S. involvement in the Second World War...
, William Joseph Donovan
William Joseph Donovan
William Joseph Donovan was a United States soldier, lawyer and intelligence officer, best remembered as the wartime head of the Office of Strategic Services...
. In 1942, when propaganda responsibilities were transferred to the Office of War Information
United States Office of War Information
The United States Office of War Information was a U.S. government agency created during World War II to consolidate government information services. It operated from June 1942 until September 1945...
, he became its Overseas Branch Deputy Director. He joined the Society for the Prevention of World War III
Society for the Prevention of World War III
The Society for the Prevention of World War III was an organization set up in the U.S. in 1944 during World War II that advocated a harsh peace for Germany in order to completely remove Germany as a future military threat....
, a lobby group working for a harsh peace for Germany.
In 1963, along with Sears
Sears Holdings Corporation
Sears Holdings Corporation is a retail conglomerate formed in 2005 by the merger of Sears, Roebuck and Co., of Hoffman Estates, Illinois, with Kmart Holdings Corporation, of Troy, Michigan...
heir, Philip Stern, he helped to found the Washington
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
-based Institute for Policy Studies
Institute for Policy Studies
Institute for Policy Studies is a left-wing think tank based in Washington, D.C..It has been directed by John Cavanagh since 1998- History :...
.
Warburg married the composer and musician Kay Swift
Kay Swift
Kay Swift was an American composer of popular and classical music, the first woman to score a complete musical. Written in 1930, Fine and Dandy includes some of her best known songs; the title song has become a jazz standard. "Can't We Be Friends?" was another important hit...
in 1918, but they divorced in late 1934 as a consequence of her long involvement with George Gershwin
George Gershwin
George Gershwin was an American composer and pianist. Gershwin's compositions spanned both popular and classical genres, and his most popular melodies are widely known...
. They had three daughters between 1919 and 1924. Warburg married his 2nd wife Phyllis Baldwin in 1935. Warburg married his 3rd wife Joan Melber on Sep 6, 1948 and had son a Philip Neff Warburg. James is also the grandfather of novelist Katharine Weber
Katharine Weber
Katharine Weber is an American novelist.Weber was born in New York City. She grew up in the Forest Hills Gardens section of Queens, New York. She attended The Kew-Forest School and Forest Hills High School before attending the Freshman Year Program at The New School for Social Research in 1972...
. Under the pseudonym Paul James he wrote the lyrics to Swift's 1929 hit song "Can't We Be Friends?" and their 1930 musical, Fine and Dandy, which introduced the song "Fine And Dandy
Fine and Dandy (song)
"Fine and Dandy" is a popular song from the 1930 Broadway musical of the same name.The music was written by Kay Swift, the lyrics by Paul James . The song was published in 1930....
".
Warburg was a member of the Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
. He has gained some notoriety for the following quote: "We shall have world government, whether or not we like it. The question is only whether world government will be achieved by consent or by conquest." (Feb. 17, 1950, to the United States Senate Committee on Foreign Relations
United States Senate Committee on Foreign Relations
The United States Senate Committee on Foreign Relations is a standing committee of the United States Senate. It is charged with leading foreign-policy legislation and debate in the Senate. The Foreign Relations Committee is generally responsible for overseeing and funding foreign aid programs as...
)
External links
- Biographical note at the John F. Kennedy LibraryJohn F. Kennedy LibraryThe John F. Kennedy Presidential Library and Museum is the presidential library and museum of the 35th President of the United States, John F. Kennedy. It is located on Columbia Point in the Dorchester neighborhood of Boston, Massachusetts, USA, next to the Boston campus of the University of...
- Hell Bent for Election Warburg's Critique of FDR and the New Deal
- James Paul Warburg