The Denver Jewish news., 1922-01-18
The "Jewiish'' Mirrors
of Washington
EUGENE MEYER JR. MANAGING
DIRECTOR OF THE WAR FL
NANCE CORPORATION
By \. y. LUSTIG.

Bullding nj filtccnth street anu
PENNSYLVANIA avenue facing the White
house II was originally created as
war government agency. to promote
commerce with foreign nations thru
the extension of credits. 1t was re-
organized in Washington 1919 to aid
in the transition from the conditions
Of war to the conditions of peace. 10
make advances not exceeding Sl,ooo'-
100000 to American exporters ana
American banking institutions for thc
purpose OF financing the expectation
of domestic products. This authority
was exercised until May. 1920. when
the activities of the corporation wer"
suspended.
Congress by joint resolution january,
1921. directed that the activities of the
Corporation he resumed.
The total advances from April ..
1918. to November 30 1921, inclusive.
have amounted to SI15.15S,703.35, of
which S272. .49S, ,201.37 has been repaid.
The War has left a large part of
Europe in dire need of raw materials
and manufactured products of all kinds.
The situation practically amounts to
ths-that while European Govern
ments and individuals desire to buy
and American business men are ready
to sell. the former have neither gold
nor goods sufficient to balance their
purchases and are obliged TO seek long
time credit.
The moneys advanced thus far by the
War Finance Corporation has been en-
tended to various manufacturers and
bankers. that sent railroad equipment
to Poland. electrical and agricultural
machinery to England, France. Italy.
Belgium and Australia, food to Belgium
and machinery for steel plants to
France
Mr.. Meyer was born in Los Angeles.
California. ON October 81, 1879. His
father was horn in France. In 1857. mt
the age of 1G. he went to California via
the Isthmus of Panama, before the rail
road was built. He grew up with the
country as a merchant and banker, be-
coming associated with the firm of
Lazard Frercs of Paris. London, New
York and San Francisco. Mr.. Meyers
mother was born in New York, hut went
TO California as child, making the
trip on sailing vessel around Cape
Horn.
Eugene Meyer, Jr.. was educated in
the public schools of San Francisco,
spent one year in the University of
California, and then graduated from
Yale in the class of 1895, taking honors
in history and political science. After
graduation he spent year learning
something of the banking business in
New York and then went to Europe,
where for two years he studied Ian
guagcs foreign banking and interna-
tiOnal commerce.
In 1901 Mr.. Meyer organized his own
firm in New York City under the name
of Eugene Meyer. Jr.. & Company, spe-
ciali2ing in railroad, mining. oil. and
chemical developments, until April
1917. when he dissolved his firm to go
to Washington and participated in War
work He assisted in the organization
and development of the work of the Ad-
visory Commission of the Council of
National Defense and later of the War
Industries Board. He was member
of the National Committee on War Saw
ings, served for several months as the
personal representative of the Secre
tary of War in investigating the air
craft situation, and was nominated by
President Wilson. and confirmed by the
Senate, as one of the two Republican
members of the Board of Directors of
the War Finance Corporation at the
time of its organization in May, 1918.
In January. 1919, he was made its Man
aging Director and continued in this
capacity until June l, 1920, when he re-
signed Its governing board consists of
a. w. Mellon. Secretary OF the Treas
ury: Henry c. Wallace, Secretary of
Agriculture: Eugene Meyer. Jr.. Manag-
ing Director: Dwight f. Davis, Direc-
tor. and \. w. Mclean, Director. In
accepting Mr.. Meyers resignation as
Managing Director of its War Finance
Corporation as of June l, 1920. Presi-
gent WILSON, Suiiiiutu up MI. hcHti
var record aS follows:
Il have your letter of the 1Ith of
May, rendering your resignation as
a director of the War Finance Cor
poration which | hereby accept, eff
fective. in accordance with your re-
quest. at the close of business May
81 1920. | take this action with
very deep regret You have served