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Washington Post, and other properties? Incidentally, Lazard Brothers, 

Meyer’s family banking house, personally manages the fortunes of 

many of our political luminaries, including the Kennedy family fortune.

Besides these men, Warburg, Baruch, and Meyer, a host of J.P. Morgan 

Co., and Kuhn, Loeb Co., partners, employees, and satellites came to 

Washington after 1917 to administer the fate of the American people.

The Liberty Loans, which sold bonds to our citizens, were nominally in 

the jurisdiction of the United States Treasury, under the leadership of 

Wilson’s Secretary of the Treasury, William G. McAdoo, whom Kuhn, 

Loeb Co. had placed in charge of the Hudson-Manhattan Railway Co. 

in 1902. Paul Warburg had most of the Kuhn Loeb Co. firm with him in 

Washington during the War. Jerome Hanauer, partner in Kuhn, Loeb 

Co., was Assistant Secretary of the Treasury in charge of Liberty Loans. 

The two Under-secretaries of the Treasury during the War were S. Parker 

Gilbert and Roscoe C. Leffingwell. Both Gilbert and Leffingwell came 

to the Treasury from the law firm of Cravath and Henderson, and 

returned

99

@insert CHART IV

100

CHART IV

The Peabody-Morgan chart shows the London Connection of these 

prominent banking firms, which have been headquartered in London 

since their inception. The Peabody fortune set up an Educational Fund 

in 1865, which was later absorbed by John D. Rockefeller into the