Alexander Sachs
Encyclopedia
Alexander Sachs was an Jewish American economist and banker. In 1939, he delivered the Einstein–Szilárd letter to Franklin D. Roosevelt
, in which it was suggested that nuclear research
should be fomented.
Born in Rossien
, Lithuania
, Sachs came to the U.S. in 1904 to join his brother, Joseph A.Sachs, who was instrumental in his further education. He was educated at Townsend Harris High School
in New York City
, the City College of New York
, and Columbia College
. In 1913 he joined the municipal bond
department at Boston-based investment bank Lee, Higginson & Co.
, but in 1915 returned to education as a graduate student in social sciences, philosophy and jurisprudence at Harvard College
. In later life he was on the faculty at Princeton University.
Between 1918 and 1921 he was an aide to Justice Brandeis
and the Zionist Organization of America
on international problems of the Middle East and the World War I peace conference
.
From 1922 to 1929 he was economist and investment analyst for Walter Eugene Meyer in equity investment acquisitions. He then organized and became Director of Economics Investment Research at the Lehman Corporation, a newly established investment company of Lehman Brothers
. From 1931 he joined the board at Lehman. He was Vice President from 1936 to 1943, remaining on the board until his death in 1973.
In 1933, Sachs served as organizer and chief of the economic research division of the National Recovery Administration
. In 1936, he served on the National Policy Committee. During the war, he was economic adviser to the Petroleum Industry War Council, and special counsel to the director of the Office of Strategic Services
. He was knighted by the Queen of England and at the time of his death held the title of Sir Alexander Sachs. He is presently survived by his nephew, Zachary H. Sacks, an attorney in Los Angeles, California.
Franklin D. Roosevelt
Franklin Delano Roosevelt , also known by his initials, FDR, was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war...
, in which it was suggested that nuclear research
Nuclear fission
In nuclear physics and nuclear chemistry, nuclear fission is a nuclear reaction in which the nucleus of an atom splits into smaller parts , often producing free neutrons and photons , and releasing a tremendous amount of energy...
should be fomented.
Born in Rossien
Raseiniai
Raseiniai is a city in Lithuania. It is located on the south eastern foothills of the Samogitians highland, some north from the Kaunas–Klaipėda highway.- Grand Duchy of Lithuania :...
, Lithuania
Lithuania
Lithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
, Sachs came to the U.S. in 1904 to join his brother, Joseph A.Sachs, who was instrumental in his further education. He was educated at Townsend Harris High School
Townsend Harris High School
Townsend Harris High School is a public magnet high school for the humanities in the borough of Queens in New York City. Students and alumni often refer to themselves as "Harrisites." Townsend Harris consistently ranks as among the top 100 High Schools in the United States. It currently operates as...
in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, the City College of New York
City College of New York
The City College of the City University of New York is a senior college of the City University of New York , in New York City. It is also the oldest of the City University's twenty-three institutions of higher learning...
, and Columbia College
Columbia College of Columbia University
Columbia College is the oldest undergraduate college at Columbia University, situated on the university's main campus in Morningside Heights in the borough of Manhattan in New York City. It was founded in 1754 by the Church of England as King's College, receiving a Royal Charter from King George II...
. In 1913 he joined the municipal bond
Municipal bond
A municipal bond is a bond issued by a city or other local government, or their agencies. Potential issuers of municipal bonds includes cities, counties, redevelopment agencies, special-purpose districts, school districts, public utility districts, publicly owned airports and seaports, and any...
department at Boston-based investment bank Lee, Higginson & Co.
Lee, Higginson & Co.
Lee, Higginson & Co. was a prominent Boston-based investment bank during the 1840s to 1932, home of many members of Boston Brahmin establishment. The bank collapsed in the Swedish match scandal in 1932 while under the leadership of Jerome Davis Greene. Also known for financing the growth of...
, but in 1915 returned to education as a graduate student in social sciences, philosophy and jurisprudence at Harvard College
Harvard College
Harvard College, in Cambridge, Massachusetts, is one of two schools within Harvard University granting undergraduate degrees...
. In later life he was on the faculty at Princeton University.
Between 1918 and 1921 he was an aide to Justice Brandeis
Louis Brandeis
Louis Dembitz Brandeis ; November 13, 1856 – October 5, 1941) was an Associate Justice on the Supreme Court of the United States from 1916 to 1939.He was born in Louisville, Kentucky, to Jewish immigrant parents who raised him in a secular mode...
and the Zionist Organization of America
Zionist Organization of America
The Zionist Organization of America , founded in 1897, was one of the first official Zionist organizations in the United States, and, especially early in the 20th century, the primary representative of Jewish Americans to the World Zionist Organization, espousing primarily Political Zionism.Today,...
on international problems of the Middle East and the World War I 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...
.
From 1922 to 1929 he was economist and investment analyst for Walter Eugene Meyer in equity investment acquisitions. He then organized and became Director of Economics Investment Research at the Lehman Corporation, a newly established investment company of Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
. From 1931 he joined the board at Lehman. He was Vice President from 1936 to 1943, remaining on the board until his death in 1973.
In 1933, Sachs served as organizer and chief of the economic research division of the National Recovery Administration
National Recovery Administration
The National Recovery Administration was the primary New Deal agency established by U.S. president Franklin D. Roosevelt in 1933. The goal was to eliminate "cut-throat competition" by bringing industry, labor and government together to create codes of "fair practices" and set prices...
. In 1936, he served on the National Policy Committee. During the war, he was economic adviser to the Petroleum Industry War Council, and special counsel to the director of the Office of Strategic Services
Office of Strategic Services
The Office of Strategic Services was a United States intelligence agency formed during World War II. It was the wartime intelligence agency, and it was a predecessor of the Central Intelligence Agency...
. He was knighted by the Queen of England and at the time of his death held the title of Sir Alexander Sachs. He is presently survived by his nephew, Zachary H. Sacks, an attorney in Los Angeles, California.