It is a coincidence that, while he does not use the term “ignorance,” Mr. Warburg is quite outspoken concerning the benighted state in which he found this country, and he is also outspoken about the “untrained amateurs” who are candidates for every office. These, he says, are not fitted to take part in the control of monetary affairs. But Mr. Warburg is. He says so. He admits that it was his ambition from the moment he came here an alien Jewish-German banker, to change our financial affairs more to his liking. More than that, he has succeeded; he has succeeded, he himself says, more than most men do in a lifetime; he has succeeded, Professor Seligman says, to such an extent that throughout history the name of Paul M. Warburg and that of the Federal Reserve System shall be united.
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Issue of July 2, 1921.