W.A Harriman merges with the British firm Brown Brothers. Thatcher Brown, Prescott Bush and the two Harriman brothers were the senior partners in the new firm
of Brown Brothers and Harriman. Robert Lovett son of Robert Scott Lovett and a close friend of Prescott Bush became a partner in the new firm. Lovett would
later serve as Asst. Sec. for Air during the war, as Under Sec. Of State 1947-1949, as Deputy Sec. of Defense 1950-1951 and as Secretary of Defense
1951-1953. Prescott Bush ran the New York office while the London office of the new firm was ran by Thatcher Brown. Montagu Collet Norman, governor of the
Bank of England and close friend of Prescott Bush often staying with the Bush family on his visits to New York was a partner of Brown Brothers. He also was a
well-known Nazi sympathizer. His grandfather had been boss of Brown Brothers during the Civil war when Brown Brothers were directly responsible for shipping
seventy five percent of the cotton from the south to England.
Precott Bush and George Walker hosted host of the Third International Congress of Eugenics. The purpose of the event was to call for the sterilization of fourteen
million Americans.
Bank of International Settlements formed.