Why is this so? Why have the powerful banking families of Wall Street surrounded themselves so carefully with non-Jewish associates? Why has this great dividing line been drawn between members of the Jewish and non-Jewish races in the financial district that manages the financial resources of the nation?
Why? The answer to the question is in the custody of the stronger and sounder financial heads of Wall Street.
Only here and there will one discover a Jewish director in the boards of some of the lesser banking institutions.
The situation may be due merely to a shrewd analysis of the public mind. Rightly or wrongly the public prefers not to confide its money to an institution under Jewish control. It is true that in certain uptown sections of New York there are a few banks of a local character which are completely under Jewish management. But even the Jews prefer to deposit their money in banks which are free of Jewish control.
The situation may also be the effect of the unfortunate experience which the public has had with Jewish management of banks in the past. Several large failures have served to impress upon the public mind a certain peculiarity which attached to the Jewish element in those failures. The public has not forgotten, among others, the failure of Joseph G. Robin, whose real name was Robonovitch. He was an Odessa Jew. In an incredibly short space of time he built up four large banking institutions in which public money was deposited. He wrecked them all. His failure was most sensational and caused untold suffering. Robonovitch’s career illustrated very vividly the extent of the gifts and energies of the Jew from Russia, his wonderful faculty for building up large concerns through chicanery, and his cowardice and duplicity in the hour of defeat. This banking career ended in a felon’s cell.
However, one fact of importance, a fact that should be reassuring to the general public, is that the men to whom is entrusted the crucial task of putting to work and keeping at work the financial resources of the United States have hedged themselves about with a non-Jewish wall of great and long standing.