President Franklin D. Roosevelt coined the slogan "The Arsenal of Democracy" to describe American might during the grim years of World War II. The man who financed that arsenal was his Secretary of the Treasury, Henry Morgenthau Jr. This is the first book to focus on the wartime achievements of this unlikely hero-a dyslexic college dropout who turned himself into a forceful and efficient administrator and then exceeded even Roosevelt in his determination to defeat the Nazis.
Based on extensive research at the FDR Library in Hyde Park, NY, author Peter Moreira describes Morgenthau's truly breathtaking accomplishments: He led the greatest financial program the world has ever seen, raising $310 billion (over $4.8 trillion in today's dollars) to finance the war effort. This was largely done without the help of Wall Street by appealing to the patriotism of the average citizen through the sale of war bonds. In addition, he championed aid to Britain before America entered the war; initiated and oversaw the War Refugee Board, spearheading the rescue of 200,000 Jews from the Nazis; and became the architect of the 1944 Bretton Woods Conference, which produced the modern economic paradigm.
The book also chronicles Morgenthau's many challenges, ranging from anti-Semitism to the postwar "Morgenthau Plan" that was his undoing.
This is a captivating story about an understated and often overlooked member of the Roosevelt cabinet who played a pivotal role in the American war effort to defeat the Nazis.
