am related to members of the firm, the late Mr. Loeb having been my father-in-law, which brought about a desire on the part of the family to bring me over here.... I ought to say that I got married in this country in 1895 and that I have been in this country every year since, for several months.... That is the history of my banking education.”
It will be recalled that Jacob H. Schiff also married a daughter of Mr. Loeb, so that Mr. Warburg married the sister of Mrs. Jacob H. Schiff. Felix Warburg, Paul’s brother, who is also in the firm, married Mr. Schiff’s daughter.
Mr. Warburg immediately cast a critical eye upon the state of financial affairs in the United States and it is significant of the grasp he already had on such matters that he found the country rather behind the times.