When, with Mr. Wolf, President
of the American Association of Commerce and Trade in Berlin, I
called upon the director of the Imperial Bank and begged him
to arrange something for the relief of American travellers in
Germany, he refused to do anything; and I then suggested to him
that he might give paper money, which they were then printing
in Germany, to the Americans for good American credits such as
letters of credit and bank checks, and that they would then have a
credit in America which might become very valuable in the future.
He, however, refused to see this. Director Herbert Gutmann of
the Dresdener Bank was the far-seeing banker who relieved the
situation. Gutmann arranged with me that the Dresdener Bank,
the second largest bank in Germany, would cash the bank checks,
letters of credit and the American Express Company's drafts and
international business checks, etc., of Americans for reasonable
amounts, provided the Embassy seal was put on the letter of credit
or check to show that the holder was an American, and, outside
of Berlin, the seal of the American Consulate.
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