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During the Harding Administration, he did his bit as Director of Finance 

for the United States Shipping Board when the Board sold ships to the 

Dollar Lines for a hundredth of their cost and then let the Dollar Line 

default on its payments. After leaving public service, J.W. McIntosh 

became a partner in J.W. Wollman Co., New York Stockbrokers.

W.P.G. Harding, Governor of the Federal Reserve Board, was also 

managing director of the War Finance Corporation under Eugene 

Meyer.

George R. James, member of the Federal Reserve Board in 1923-24, 

had been Chief of the Cotton Section of the War Industries Board.

Henry P. Davison, senior partner in J.P. Morgan Co., was appointed 

head of the American Red Cross in 1917 in order to get control of the 

three hundred and seventy million dollars cash which was collected 

from the American people in donations.

Ronald Ransom, banker from Atlanta, and Governor of the Federal 

Reserve Board under Roosevelt in 1938-39, had been the Director in 

Charge of Personnel for Foreign Service for the American Red Cross in 

1918.

John Skelton Williams, Comptroller of the Currency, was appointed 

National Treasurer of the American Red Cross.

President Woodrow Wilson, the great liberal who signed the Federal 

Reserve Act and declared war against Germany, had an odd career 

for a man who is now enshrined as a defender of the common people. 

His chief supporter in both his campaigns for the Presidency was 

Cleveland H. Dodge, of Kuhn Loeb, who controlled National City Bank 

of New York. Dodge was also President of the Winchester Arms