Carl Melchior
Encyclopedia
Carl Melchior was a German
banker.
Born in Hamburg
, Melchior studied law and eventually was appointed a judge
. In 1900 Melchior was made legal counsel
to Hamburg banking concern, M.M.Warburg & CO. During World War I
, he served with a Bavaria
n regiment of the German army
and was seriously injured at Metz
when he fell from a horse. After his recovery, Mechior went to work for the German government and beginning in 1919 served as an advisor for the financial and economic negotiations that began at the Paris Peace Conference
. Following implementation of the terms of the Treaty of Versailles
, Germany was faced with numerous economic problems.
By 1921, Melchior deemed it advisable for the country to accept what he saw as an impossible war reparations
burden stating: "We can get through the first two or three years with the aid of foreign loans. By the end of that time foreign nations will have realised that these large payments can only be made by huge German exports and these exports will ruin the trade in England
and America
so that creditors themselves will come to us to request modification."
Over the decade, Melchior played an increasingly prominent role in the lengthy negotiations, earning international recognition for his command of both the financial and legal issues involved.
After having been made a partner at M. M.Warburg & Co, Carl Melchior became one of the co-founders of the Hamburg Morocco Society, an entity created to promote German mining in Morocco
and expand economic activities in what was a country dominated by French
business interests. In 1922, Melchior was appointed Chairman of the Supervisory Board of the Hamburg based pharmaceutical-related consumer products giant Beiersdorf AG
. His growing influence in the German economic community resulted in his 1926 appointment as the German representative on the League of Nations
' Finance Committee. In 1928, he was named Committee chairman and following its creation in 1930, he served as a member of the board of the Bank for International Settlements
in Basle, Switzerland. His work resulted in him becoming friends with British economist John Maynard Keynes
.
A bachelor for many years, Melchior eventually married his long-time mistress, the French romance novelist Marie de Molènes with whom he had a child. In the last few years of his life, he suffered from severe heart problems and in December 1933 died following a stroke.
In his memory, the Carl Melchior Chair for International Policy was established at the Hebrew University of Jerusalem
in 1984 and in 1999 the university created the Carl Melchior Minerva Center.
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
banker.
Born in Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
, Melchior studied law and eventually was appointed a judge
Judge
A judge is a person who presides over court proceedings, either alone or as part of a panel of judges. The powers, functions, method of appointment, discipline, and training of judges vary widely across different jurisdictions. The judge is supposed to conduct the trial impartially and in an open...
. In 1900 Melchior was made legal counsel
Lawyer
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person who is practicing law." Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain the stability of political...
to Hamburg banking concern, M.M.Warburg & CO. During World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
, he served with a Bavaria
Bavaria
Bavaria, formally the Free State of Bavaria is a state of Germany, located in the southeast of Germany. With an area of , it is the largest state by area, forming almost 20% of the total land area of Germany...
n regiment of the German army
German Army
The German Army is the land component of the armed forces of the Federal Republic of Germany. Following the disbanding of the Wehrmacht after World War II, it was re-established in 1955 as the Bundesheer, part of the newly formed West German Bundeswehr along with the Navy and the Air Force...
and was seriously injured at Metz
Metz
Metz is a city in the northeast of France located at the confluence of the Moselle and the Seille rivers.Metz is the capital of the Lorraine region and prefecture of the Moselle department. Located near the tripoint along the junction of France, Germany, and Luxembourg, Metz forms a central place...
when he fell from a horse. After his recovery, Mechior went to work for the German government and beginning in 1919 served as an advisor for the financial and economic negotiations that began at the Paris Peace Conference
Paris Peace Conference, 1919
The Paris Peace Conference was the meeting of the Allied victors following the end of World War I to set the peace terms for the defeated Central Powers following the armistices of 1918. It took place in Paris in 1919 and involved diplomats from more than 32 countries and nationalities...
. Following implementation of the terms of the Treaty of Versailles
Treaty of Versailles
The Treaty of Versailles was one of the peace treaties at the end of World War I. It ended the state of war between Germany and the Allied Powers. It was signed on 28 June 1919, exactly five years after the assassination of Archduke Franz Ferdinand. The other Central Powers on the German side of...
, Germany was faced with numerous economic problems.
By 1921, Melchior deemed it advisable for the country to accept what he saw as an impossible war reparations
War reparations
War reparations are payments intended to cover damage or injury during a war. Generally, the term war reparations refers to money or goods changing hands, rather than such property transfers as the annexation of land.- History :...
burden stating: "We can get through the first two or three years with the aid of foreign loans. By the end of that time foreign nations will have realised that these large payments can only be made by huge German exports and these exports will ruin the trade in England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
and America
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
so that creditors themselves will come to us to request modification."
Over the decade, Melchior played an increasingly prominent role in the lengthy negotiations, earning international recognition for his command of both the financial and legal issues involved.
After having been made a partner at M. M.Warburg & Co, Carl Melchior became one of the co-founders of the Hamburg Morocco Society, an entity created to promote German mining in Morocco
Morocco
Morocco , officially the Kingdom of Morocco , is a country located in North Africa. It has a population of more than 32 million and an area of 710,850 km², and also primarily administers the disputed region of the Western Sahara...
and expand economic activities in what was a country dominated by French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
business interests. In 1922, Melchior was appointed Chairman of the Supervisory Board of the Hamburg based pharmaceutical-related consumer products giant Beiersdorf AG
Beiersdorf
Beiersdorf AG is a multinational corporation based in Hamburg, Germany, manufacturing personal care products. Its brands include Elastoplast, Eucerin , Labello, and Nivea....
. His growing influence in the German economic community resulted in his 1926 appointment as the German representative on the League of Nations
League of Nations
The League of Nations was an intergovernmental organization founded as a result of the Paris Peace Conference that ended the First World War. It was the first permanent international organization whose principal mission was to maintain world peace...
' Finance Committee. In 1928, he was named Committee chairman and following its creation in 1930, he served as a member of the board of the Bank for International Settlements
Bank for International Settlements
The Bank for International Settlements is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government...
in Basle, Switzerland. His work resulted in him becoming friends with British economist John Maynard Keynes
John Maynard Keynes
John Maynard Keynes, Baron Keynes of Tilton, CB FBA , was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments...
.
A bachelor for many years, Melchior eventually married his long-time mistress, the French romance novelist Marie de Molènes with whom he had a child. In the last few years of his life, he suffered from severe heart problems and in December 1933 died following a stroke.
In his memory, the Carl Melchior Chair for International Policy was established at the Hebrew University of Jerusalem
Hebrew University of Jerusalem
The Hebrew University of Jerusalem ; ; abbreviated HUJI) is Israel's second-oldest university, after the Technion – Israel Institute of Technology. The Hebrew University has three campuses in Jerusalem and one in Rehovot. The world's largest Jewish studies library is located on its Edmond J...
in 1984 and in 1999 the university created the Carl Melchior Minerva Center.
Further reading
- The Warburgs : The Twentieth-Century Odyssey of a Remarkable Jewish Family by Ron Chernow, Vintage, 1994, ISBN 0-679-74359-6