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was very good. Warren's specialty was money and financing. Henry Morgenthau thus became interested in everything that had to do with money and fiscal policies because of his interest, through Warren, in fiscal matters.

Then the President brought Oliver Sprague in. He was a Professor of Fiscal Economics at Harvard, but had been on loan to the Bank of England for a number of years. He had a great reputation. Montagu Norman thought that he had been one of the great inventors of a way to save the English financial situation, credited him with a great deal of skill. He had a pretty big reputation at the time. Somebody recommended him to the President and he asked Sprague to come down.

Sprague was a peculiar man in many ways. He had peculiar ways of doing things, peculiar attitudes and ways of expression. So he wasn't popular immediately, but I thought very well of him. I made a point of seeing him occasionally.

At any rate, these people and a few others were studying for the President this whole question of fiscal economics and fiscal management, money management, and the gold policy. It was then Henry Morgenthau began to show up somewhat in those circles. There were three or four things going on which had to do with the management of