Diplomats -- United States -- Biography; Morgenthau, Henry, 1856-1946; United States -- Foreign relations -- 20th century
When, as president of my Board of Directors, I sat at the head of the
table at our meetings, and looked down either side of the table, my eyes
fell upon at least half a dozen of the greatest financial giants of the
day--men who, as heads of enormous and often clashing interests,
represented nearly every element in the epic struggle for the financial
supremacy of America--that savage struggle which the public at large
sensed but vaguely, and which it saw clearly only at the great moments
of climax, as when the veil was lifted by the famous life insurance
investigation, and later by the Pujo investigation. About this board
were six representative financiers. These men were as diverse in their
appearance and character and their methods as the interests they
personified. The battle between the banks on the one hand and the trust
companies on the other, was represented by James Stillman and Frederic
P. Olcott. Stillman, as became the champion of the older type of
institutions, the banks, was a perfect example of the well-built man of
the world, sartorially correct, soft spoken, with a tendency toward
cynical humour, and with a tongue capable of devastating sarcasms, while
Olcott, as became the representative of the more recent competitors in
the general banking business, the trust companies, was a type of the
rough-and-ready, physically powerful, hard-spoken, tumultuous fighter.
There was nothing conciliatory in his make-up. He rather enjoyed
wrangling with his competitors, and prided himself on never having
become money-mad, and looked commiseratingly on those who had. He was
more interested in this financial struggle as a test of intellectual
prowess, but wanted to remain an amateur gladiator rather than to become
a professional wealth accumulator. Olcott’s burly figure, carelessly
clad, surmounted by a huge, bucket-like head, adorned with unbelievably
big and protruding ears, and illuminated with eyes that could glare
terrifyingly, was in striking contrast with Stillman’s smooth-buttoned
figure, his keen, distinguished face, and eyes that menaced by their
subtlety and gleam of concentrated will, but whose whole manner
betokened a measured, studied self-restraint.
Public-domain text, read in full here on John Shaqi.
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