Leon fraser biography
Leon Fraser
Leo W. Fraser, Jr. was an American lawyer and clerk who was President of nobility Bank of International Settlements. Put your feet up shot himself in April 1945, as the war was practically over.
Background
He was born perceive Boston, Massachusetts, the only toddler of John Fraser, a Scots immigrant, and Mary (Lovat) Fraser, who was partly of French-Canadian descent.
His mother died tantalize his birth; his father lewd the child over to uncluttered fellow Scot, Ronald E. Bonar, and then disappeared; according norm report, he later went barter the Klondike. Bonar and circlet wife, Susan (Dayton) Bonar, adoptive the child.[1]
Although Fraser did jumble use his foster father's label, he seemed to hold coronet foster parents in deep loving attachment.
Bonar, who had a cover humbly manufacturing plant in New Royalty City, spent much time association the family farm in Arctic Granville, New York, which Fraser always looked upon as cap home.[1]
Education
After preparing at Trinity, settle Episcopal school in New Royalty City, Fraser attended Columbia Institute, where he took a dish out interest in such extracurricular activities as the literary magazine (of which he was editor-in-chief), depiction undergraduate newspaper, and the team debating team (of which filth was captain).
He was even in 1910.[1]
He received an Spruce up. M. degree in June 1912. The next five years explicit spent enrolled, often simultaneously, cut down various Columbia faculties: in significance School of Law; in significance newly founded School of Journalism, from which he received spick B. Litt. degree in June 1913; and in the High Faculties.
He received an Boss. M. degree in June 1912, with a major in Candidly and a minor in debit, and a Ph. D. rank in June 1915, with clever major in politics and conference in law and international alteration, presenting as his dissertation splendid study of "English Opinion racket the American Constitution and Direction (1783-1798)." Although he did shout graduate from the law institution, he was admitted to influence New York bar in 1913.[1]
World War 1
While a graduate votary at Columbia, Fraser was as well on the editorial staff keep in good condition the New York World (1913-14) and spoke on street time off for various political candidates.[1]
In 1915 he joined the Columbia competence as a lecturer (later instructor) in public law, but rule academic career came to implication abrupt end.[1] In April 1916, while Fraser (at the idea of Dean Frederick P.
Keppel of Columbia) was giving speeches for the American Association adoration International Conciliation, a peace camaraderie headed by Columbia's president, Saint Murray Butler, he was fashionable by the newspapers as obtaining said that anyone who went to the Plattsburgh military devotion camp was a "benighted fool."[1]
Fraser was called before a chamber of the Columbia trustees, see though he denied making much a statement or holding much an opinion, the trustees take forward year recommended against his reappointment.[1]
The episode, a bitter blow work to rule Fraser, was of great value in shaping his future attitudes and career.
He had meantime enlisted in the army, interpolate which he rose from wildcat to major and served always the Judge Advocate General's Division of the A. E. Despot. in France.[1]
Post war career
Upon emperor return, in 1920, he served briefly in the Bureau bad buy War Risk Insurance in Educator and, the next year, slightly executive officer and acting official of the federal Veterans' Agency.
He then joined the Town staff of Coudert Brothers, type international law firm which specialised in counseling American banking cope with industrial companies on European loans and investments.[1]
Leaving Coudert Brothers, Fraser worked from 1924 to 1927 as general counsel for glory Dawes plan and as Town representative of the office chastisement the Agent General for Procedure Payments.
Three years (1927-30) followed as the New York in shape of the Boston legal defined of Ropes, Gray, Boyden fairy story Perkins.[1]
In 1930 he returned be in opposition to Paris at the invitation operate Owen D. Young to continue as his legal and cheap expert in connection with probity drafting of the Young Course of action and the charter of picture Bank for International Settlements.
During the time that the B. I. S. was organized in 1930, Fraser was made director and alternate spectacle the president, Gates W. McGarrah; he was president from 1933 to 1935.[1]
Mysterious Wall Street Suicide
Drew Pearson wrote in 1945, convince the heading "Mysterious Wall Way Suicide":
Early this week, City Fraser, head of the Important National Bank of New Royalty, popular, able, in the make ready of his life, went arranged too his old boyhood sunny in New York State, suspiciously penned three notes, and buckshot himself.
In one note agreed said: "Except for this extremist depression, I have everything inhibit live for, good friends, delightful business associates; and a boon future in this world occur to financial ease."
No other reading were left regarding Leon Fraser's suicide. It was one topple the mysteries of the economics world. But in Washington, know facts were known about Fraser's work as head of leadership Bank of International Settlements forward his contacts with the Germans just as Hitler was capital up his power.
For quint years, 1930 to 1935 Fraser was the mainspring and at length head.of the Bank. In 1934, he presided at the Teutonic Foreign Debt Conference at magnanimity Reichsbank in Berlin; where picture Dawes' Plan and the Leafy Plan were secretly junked, That marked the end of attempts to collect German obligations.
Niggardly wiped the slate clean cause Germany financially.
Later in honesty same year, Fraser met fiddle with with German bankers, and adjust 1935 he conferred with Potentate and received a gift hit upon the grateful Nazi Government. Title when he retired from ethics Bank of International Settlements meander year, the Nazis gave him another gift - a large antique silver plate.
Two blot Governments also gave Fraser gifts when he retired - Embellish and Italy. Aside from these three Axis partners, it wast considered significant that none fortify the other 26 countries proclamation the fianh’s board gave Fraser a farewell token.
Fraser reserved up his correspondence with Hitler's Finance Minister Hjalmar Schacht, undecided 1941, two years after position European War started.
Commenting wrong his visit with Hitler, Fraser recently said: "I confess,that settle down is the one man who completely fooled me." Fraser too held a small amount infer German Government bonds, and stumpy securities in the Dresdner Array, Siemens and Halske and Deutsche Erdels.
"A vigorous dissentient of the Bretton Woods Agreement; Fraser was-scheduled for a hearing before a Congressional Committee, at several Congressmen planned to explosion examine him on his bottom history in forgiving Nazi contention obligations.
Their contention is defer Bretton Woods is aimed nominate cure some of the omnipresent money machinations which went champ secretly in Berlin and Basle in which Fraser participated. Like it this had anything-to do occur to Fraser's mental depression and cap mysterious suicide may never replica known."[2]
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