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Council of League Urges Melchior Not to Resign

The Council of the League of Nations today considered the resignation submitted by the well-known Jewish banker and internationally known economist, Dr. Carl Melchior, a partner of Max Warburg, Hamburg banker and brother of Felix M. Warburg, who is Germany’s representative on the financial committee of the League of Nations. He is also chairman of the committee.

The Norwegian representative on the committee, E. A. Colban, who is also the Council’s rapporteur on finances, endeavored, on behalf of the members of the financial committee, to induce Dr. Melchior to change his decision to resign. The British, French, Italian and Polish representatives also sought to persuade Dr. Melchior to withdraw his resignation before the next session of the Council.

Finally after Count von Bernstorff declared that he was sure that the German government would do its best to persuade Dr. Melchior to retain his position, the Council decided to postpone its decision. In an official communique issued by the information section of the League of Nations, Dr. Melchior is described as one of the most competent members of the financial committee. It is learned that Dr. Melchior’s resignation is due to his heavy duties as one of the two German representatives on the directorate of the Bank for International Settlements. He is also vice-president of the Bank.

Dr. Melchior, who last April declined to head the Reichsbank when Dr. Hjalmar Schacht resigned, has represented Germany at every post-War international conference.

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