Paul Moritz Warburg (1868-1932) - Find a Grave Memorial

Businessman. He was born in Hamburg, Germany, to a family that included a number of successful bankers and merchants. Warburg came to the U.S. in 1901, and joined the investment firm of Kuhn, Loeb and Co. He married Nina Loeb in 1895, and became a U.S. citizen in 1911. Warburg was an advocate for the establishment of a centralized banking system, authoring "Defects and Needs of Our Banking System" and "A Plan for a Modified Central Bank". After considerable modification, his proposals resulted in the establishment of the U.S. Federal Reserve in 1913, and President Woodrow Wilson appointed him to its first Board. He later helped establish the Council on Foreign Relations in 1921, serving on its Board until 1932. He authored "The Ferderal Reserve System and the Banks" in 1916. Warburg was also involved in the establishment of the International Acceptance Bank of New York, and served as chairman when International Acceptance was acquited by the Bank of Manhattan. The character of Daddy Warbucks in the Little Orphan Annie comics series is said to be based on Warburg's life and career.

Bio by: Pat