James Warburg
James Paul Warburg | |
|---|---|
| Born | Template:Birth date Hamburg, Germany |
| Died | June 3, 1969 (aged 72) |
| Occupation(s) | Banker, entrepreneur, author, financial consultant |
| Known for | Financial consultant to President Franklin D. Roosevelt; author; co-founder of Institute for Policy Studies |
James Paul Warburg (August 18, 1896 – June 3, 1969) was an American banker, entrepreneur, and author originally from Germany, recognized for his role as a financial consultant to President Franklin D. Roosevelt. As the son of Paul Warburg, a pivotal architect of the Federal Reserve System, James Warburg significantly influenced American financial strategies. Following World War II, he contributed to the establishment of the Society for the Prevention of World War III, which endorsed the Morgenthau Plan.
Biography
Warburg was born in Hamburg, Germany, and received his education at Middlesex School and later at Harvard University. During World War I, he served with the Navy Flying Corps before embarking on a career in banking. Between 1919 and 1921, he was employed by the First National Bank of Boston. Subsequently, he held several executive roles: Vice President at International Acceptance Bank (1921–1929), president of International Manhattan Company (1929–1931), president of International Acceptance Bank (1931–1932), and Vice Chairman of the Board at Bank of the Manhattan Company (1932–1935).
While serving at Bank of the Manhattan, Warburg acted as a financial advisor to Roosevelt, including participation in the 1933 London World Economic Conference. He departed from government service in 1934 due to disagreements with aspects of the New Deal but opposed isolationist policies. He returned in 1941 as Special Assistant to William Joseph Donovan, Coordinator of Information. In 1942, he took on the role of Deputy Director for the Overseas Branch at the Office of War Information.
After the war, Warburg authored multiple publications on U.S. foreign affairs and championed nuclear disarmament efforts. In 1963, alongside Philip Stern, he helped found the Washington-based Institute for Policy Studies. As a member of the Council on Foreign Relations, he became notable during a 1950 Senate Foreign Relations Committee hearing when he declared, "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."
Personal life
In 1918, Warburg wed composer and musician Kay Swift, despite his uncle, Jacob Schiff, opposing the marriage over religious differences. The couple had three daughters: April Carlotta Warburg Gagliano, Andrea Warburg Kaufman, and Kay Levin. Their marriage ended in divorce in 1934 after Swift’s prolonged relationship with George Gershwin. In 1935, Warburg married Phyllis Baldwin; later, on September 6, 1948, he married his third wife, Joan Melber, in a Christian ceremony. They had four children together: James P., Jr., Jennifer, Philip, and Sally Bliumis-Dunn. Additionally, Warburg was grandfather to novelist Katharine Weber, daughter of Andrea.
Works
Books
- It’s Up to Us. New York: Alfred A. Knopf, 1934.
- Hell Bent for Election. New York: Doubleday Doran, 1935.
- Still Hell Bent. New York: Doubleday, 1936.
- The Long Road Home: The Autobiography of a Maverick. New York: Doubleday, 1964.
- Western Intruders: America's Role in the Far East. New York: Atheneum Books, 1967.
Music Using the pseudonym “Paul James” (a reversal of his first and middle names), Warburg penned lyrics for Swift's 1929 hit "Can't We Be Friends?" as well as all songs featured in the 1930 musical Fine and Dandy, which introduced the well-known title track "Fine and Dandy".
External links
- Biographical summary at the John F. Kennedy Library
- Hell Bent for Election Warburg's analysis of FDR and the New Deal policies
- Committee on the History of the Federal Reserve System (Brookings Institution, 1954–1958) available at FRASER
- Articles with short description
- Articles with hCards
- No local image but image on Wikidata
- 1896 births
- 1969 deaths
- 20th-century American businesspeople
- 20th-century American Jews
- 20th-century American male writers
- 20th-century American non-fiction writers
- American male non-fiction writers
- American people of German-Jewish descent
- American political writers
- Emigrants from the German Empire to the United States
- Franklin D. Roosevelt administration personnel
- German bankers
- Harvard University alumni
- Jewish American bankers
- American bankers
- Jewish American non-fiction writers
- Jews from Hamburg
- Middlesex School alumni
- People of the United States Office of War Information
- Warburg family