it was recognized that because of his purpose and connections he would become a dominating factor), were very great, especially at the time when the appointment was being considered. They are as important now, of course, but in a different way; it is not now a question of military safety. This thought was evidently in the mind of the senators, as the following shows:
Senator Hitchcock—“Mr. Warburg, one of the important functions of the board is to guard the gold supply of the country, and it has been thought that it is very important to have men on the board who had at heart only the interests of the United States, and had no foreign interests or alliances. You have said that you proposed to divest yourself altogether of your banking connections in Germany. Have you any other interests in Europe?”