WARBURG, Paul M.

£7,500 · Offered by Peter Harrington

The Federal Reserve System. First edition, with a printed presentation slip mounted on the front free endpaper of Vol. I, addressed and signed by the author: "This book is presented to the Rt Hon. Viscount D'Abernon with the compliments of Paul M. Warburg".Paul Warburg (1868-1932), an architect of the Federal Reserve System, served on the Federal Reserve Board from 1914 to 1918 and subsequently on the Federal Advisory Council. His magnum opus remains one of the fullest accounts of the Federal Reserve System's early history.Edgar Vincent, 1st Viscount D'Abernon (1857-1941), served as financial adviser to the Egyptian government from 1883 to 1889, governor of the Imperial Ottoman Bank at Constantinople from 1889 to 1897, and Conservative MP for Exeter from 1899 to 1906. From 1920 to 1926 he served as the first British ambassador to the German Republic - "D'Abernon's knowledge of currency and economics was indubitably greater than that of anyone in the foreign service" (ODNB). His embassy was closely engaged with German reparations, hyperinflation, currency stabilisation, and the negotiations that culminated in the Locarno agreements. In 1926 he published German Currency: Its Collapse and Recovery. Born in Germany, Warburg retained close family and banking connections with Germany during this period; his brother Max was the senior partner of the family bank M. M. Warburg in Hamburg.

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