“No, not to speak of,” said Mr. Warburg. “I may have very unimportant things, like everybody has; but I could dispose of those; it would not amount to anything.”
Senator Hitchcock—“Nothing in the line of banking?”
Mr. Warburg—“No.”
A few moments later the chairman, Senator Owen, said—(the date was August 1, 1914)—“We are on the eve of a great European war, and the organization of this board is of great national importance.”
At this time, Mr. Warburg was a member of the Hamburg firm. He testified (p. 7)—“I am going to leave my Hamburg firm, though the law does not require me to do so.”
A part of the German firm of his father and brothers, a part of the American firm to which he and his brother were related by marital as well as financial ties, Mr. Warburg repeatedly said he would break off all business relationships so that he, like Caesar’s wife (to quote himself), should be above suspicion.
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Issue of June 25, 1921.