Henry Morgenthau Jr.

Henry Morgenthau Jr.
Morgenthau in 1944
Henry Morgenthau Jr.
Born	11 5, 1891
Birthplace	New York City, New York, U.S.
Died	Template:Death date and age Poughkeepsie, New York, U.S.
Nationality	American
Occupation	Government official, farmer
Known for	United States Secretary of the Treasury (1934–1945), financing the New Deal and World War II, Morgenthau Plan
Education	Cornell University
Spouse(s)	Template:Marriage
Children	3
Awards	Medal for Merit

Henry Morgenthau Jr. (May 11, 1891 – February 6, 1967) was an American government official and farmer who served as the 52nd United States Secretary of the Treasury from January 1, 1934, to July 22, 1945, spanning most of the administration of President Franklin D. Roosevelt and the first months of the presidency of Harry S. Truman. A close friend and neighbor of Roosevelt in New York's Hudson Valley, Morgenthau played a central role in designing and financing the New Deal, and after 1937 he became the principal architect of the financial mechanisms that funded American participation in World War II. Beyond his domestic economic responsibilities, Morgenthau shaped significant aspects of U.S. foreign policy, including Lend-Lease arrangements, financial support for China, efforts to rescue Jewish refugees from Nazi-occupied Europe, and the controversial Morgenthau Plan for the postwar deindustrialization of Germany. Following the resignation of Secretary of State Edward Stettinius Jr., Morgenthau was next in the presidential line of succession from June 27 to July 3, 1945, making him the only Jewish person to have held such a position in American history. He served as Secretary of the Treasury for over eleven years, making his tenure one of the longest in the history of that office.

Early Life

Henry Morgenthau Jr. was born on May 11, 1891, in New York City, into a prominent and wealthy Jewish-American family with deep roots in public service. His father, Henry Morgenthau Sr., was a successful real estate investor and diplomat who served as the United States Ambassador to the Ottoman Empire from 1913 to 1916, a period during which the elder Morgenthau became one of the earliest American officials to document and publicize the Armenian Genocide. His mother was Josephine Sykes Morgenthau. The Morgenthau family represented a tradition of civic engagement and public responsibility that would define much of Henry Jr.'s own career.

Growing up in privilege in New York City, the younger Morgenthau developed an early interest in agriculture and the land, a pursuit that would distinguish him from the urban professional class into which he was born. Rather than following his father into real estate or diplomacy, Morgenthau Jr. gravitated toward farming, eventually purchasing land in Dutchess County, New York, in the Hudson Valley region. This decision proved consequential not only for his personal life but for the trajectory of American political history, as it placed him in close geographic proximity to Franklin D. Roosevelt, who maintained his family estate at Hyde Park in the same county.

The friendship between Morgenthau and Roosevelt became one of the most significant political relationships of the twentieth century. The two men became neighbors and close friends, bonded by their shared interest in agriculture, conservation, and progressive politics in the Hudson Valley. This personal connection would prove instrumental in Morgenthau's rise to national prominence, as Roosevelt increasingly relied upon his trusted neighbor for counsel and, eventually, for leadership of the nation's financial apparatus during some of the most challenging years in American history.

Education

Morgenthau attended Cornell University, where he studied agriculture. His focus on agricultural studies reflected his genuine commitment to farming as a vocation, setting him apart from many of his contemporaries in the New York social elite who pursued careers in law, finance, or business. His time at Cornell helped prepare him for his work as a gentleman farmer in Dutchess County, and his knowledge of agricultural economics would later inform his understanding of the rural economic crisis that gripped the United States during the Great Depression. Morgenthau did not complete a degree at Cornell but left with a practical education that served him in his farming endeavors and his subsequent public career.

Career

Farming and Early Public Service

After leaving Cornell, Morgenthau purchased a farm in Dutchess County, New York, where he established himself as a working farmer and agricultural publisher. He published the American Agriculturalist, a farming journal, which gave him a platform to engage with agricultural policy issues and connect with rural communities across the northeastern United States. His farming background provided him with a grounding in the practical economic challenges facing rural Americans, an understanding that informed his later policy work during the New Deal.

Morgenthau's proximity to Franklin Roosevelt in Dutchess County deepened their friendship and led to early political collaboration. When Roosevelt became Governor of New York in 1929, he appointed Morgenthau to serve in his state administration, where Morgenthau gained experience in government operations and agricultural policy at the state level. This period of state service proved a valuable apprenticeship for the far larger responsibilities that lay ahead.

New Deal and Secretary of the Treasury

When Roosevelt won the presidency in 1932 and entered office in March 1933, he brought Morgenthau into the federal government. Morgenthau initially served in agricultural and financial roles before being appointed to lead the Treasury Department. On January 1, 1934, Morgenthau was officially sworn in as the 52nd United States Secretary of the Treasury, succeeding William H. Woodin, who had resigned due to ill health.

As Treasury Secretary, Morgenthau became one of the central figures in the implementation of the New Deal, the sweeping set of economic programs and reforms that Roosevelt initiated to combat the Great Depression. The Treasury Department under Morgenthau's leadership was responsible for managing the federal government's finances during a period of unprecedented peacetime spending. Morgenthau oversaw the financing of major public works programs, social welfare initiatives, and agricultural relief efforts that defined the New Deal era.

Morgenthau's approach to fiscal policy has been the subject of considerable historical debate. He was generally more fiscally conservative than some other members of Roosevelt's inner circle, expressing concern at times about the scale of deficit spending that the New Deal entailed. Despite these reservations, Morgenthau loyally executed the president's economic agenda and proved an effective administrator of the Treasury's vast operations. His long tenure at the Treasury—over eleven years—reflected both Roosevelt's confidence in him and Morgenthau's own competence in managing the department through extraordinary circumstances.

Financing World War II

After 1937, as the international situation deteriorated and the United States moved toward greater involvement in global affairs, Morgenthau's role expanded significantly beyond domestic fiscal management. He became the central figure in financing American participation in World War II, a task of staggering complexity and scale that required mobilizing the financial resources of the entire nation.

Under Morgenthau's direction, the Treasury Department launched massive war bond campaigns to fund the military effort. These bond drives served a dual purpose: they raised enormous sums of money to finance military operations, and they served as a tool for managing inflation by absorbing consumer spending power during a period of wartime production. The war bond program became one of the most successful government financing campaigns in American history, engaging millions of ordinary citizens in the financial effort to win the war.

Morgenthau also played a key role in administering Lend-Lease, the program through which the United States provided military aid and supplies to Allied nations, including Great Britain, the Soviet Union, and China, before and after American entry into the war. The financial management of Lend-Lease required careful coordination between the Treasury and other government agencies, and Morgenthau's department was instrumental in structuring the financial arrangements that kept Allied nations supplied with the material they needed to continue fighting.

Additionally, Morgenthau was involved in providing financial support to China, which had been at war with Japan since 1937 and was a key Allied partner in the Pacific theater. The Treasury Department's role in managing currency stabilization efforts and financial aid to China reflected the expanding international dimensions of Morgenthau's portfolio.

President Truman awarded Morgenthau the Medal for Merit for his wartime service, citing his "exceptionally meritorious conduct in the performance of outstanding services" as Secretary of the Treasury from 1934 to 1945.

Rescue of Jewish Refugees

One of the most significant and historically consequential aspects of Morgenthau's career was his role in efforts to rescue Jewish refugees from Nazi-occupied Europe during the Holocaust. As the only Jewish member of Roosevelt's Cabinet, Morgenthau occupied a unique and often difficult position in pressing for action on behalf of European Jews.

On June 19, 1939, Morgenthau attempted to raise the issue of Jewish refugees with Roosevelt over lunch at the White House, an effort that reflected both his personal anguish over the fate of European Jews and the political delicacy of the subject within the administration. Throughout the early years of the war, Morgenthau grew increasingly frustrated with what he perceived as obstruction and indifference within the State Department regarding the rescue of Jewish refugees. Treasury Department staff, working under Morgenthau's direction, compiled evidence that officials in the State Department had actively impeded rescue efforts and suppressed information about the genocide.

On January 16, 1944, Morgenthau met with President Roosevelt to discuss the rescue of European Jews, presenting the president with evidence of the State Department's failures and pressing for more vigorous action. This meeting was a turning point. Treasury Department officials had prepared a damning report, initially titled "Report to the Secretary on the Acquiescence of This Government in the Murder of the Jews," which documented the State Department's obstruction of rescue efforts.

Six days later, on January 22, 1944, Roosevelt signed Executive Order 9417, establishing the War Refugee Board (WRB), an agency specifically tasked with rescuing victims of enemy oppression who were in imminent danger of death. The creation of the WRB represented a major shift in U.S. policy and was largely the result of Morgenthau's persistent advocacy. The WRB is credited with helping to save the lives of tens of thousands of Jews and other refugees during the final year and a half of the war.

Morgenthau's role in exposing the State Department's failures and pressing for the creation of the War Refugee Board has been recognized by historians as one of the most consequential acts of moral leadership by any American government official during the Holocaust.

The Morgenthau Plan

In September 1944, as the Allied armies advanced into Germany and the question of postwar occupation policy became urgent, Morgenthau proposed what became known as the Morgenthau Plan. The plan called for the deindustrialization of Germany after the war, stripping it of its industrial capacity and converting it into a primarily agricultural and pastoral country. Morgenthau's objective was to ensure that Germany could never again wage aggressive war by eliminating its industrial base, which had been the foundation of its military power.

The Morgenthau Plan generated significant controversy both within the Roosevelt administration and in the broader public sphere. Secretary of War Henry L. Stimson and Secretary of State Cordell Hull opposed the plan, arguing that it was too punitive and would undermine European economic recovery. When details of the plan leaked to the press, it became a political liability, with critics charging that it would condemn millions of Germans to poverty and starvation and potentially drive them toward radicalism. German propaganda seized on the plan as evidence of Allied intentions to destroy Germany, potentially stiffening German resistance in the war's final months.

Roosevelt initially endorsed the plan at the Quebec Conference in September 1944 but subsequently distanced himself from it as criticism mounted. The Morgenthau Plan was never formally implemented, though some elements of its philosophy influenced early occupation policy before being superseded by the Marshall Plan, which pursued European recovery through economic reconstruction rather than deindustrialization.

Departure from Office

Following Roosevelt's death on April 12, 1945, Morgenthau continued to serve as Treasury Secretary under President Harry S. Truman. However, the close personal bond that had sustained Morgenthau's influence under Roosevelt did not exist with the new president. Morgenthau's relationship with Truman was notably cooler, and his influence within the administration diminished.

From June 27 to July 3, 1945, following the resignation of Secretary of State Edward Stettinius Jr. and before a successor was confirmed, Morgenthau stood next in the presidential line of succession, making him briefly the person who would assume the presidency if Truman were unable to serve. This made Morgenthau the only Jewish person to have occupied this position in American history.

Morgenthau resigned as Secretary of the Treasury on July 22, 1945, and was succeeded by Fred M. Vinson. His departure from office marked the end of one of the longest tenures in the history of the Treasury Department.

Post-Government Career

After leaving government, Morgenthau devoted considerable energy to Jewish philanthropic causes. He served as general chairman of the United Jewish Appeal (UJA), one of the most prominent Jewish charitable organizations in the United States, and was active in supporting the establishment and development of the State of Israel. His post-government philanthropic work reflected both his personal Jewish identity and the profound impact that the Holocaust had on his worldview during his years in office.

Personal Life

Morgenthau married Elinor Fatman in 1916. Elinor Morgenthau was a significant figure in her own right, active in Democratic Party politics and civic affairs. The couple had three children: Robert M. Morgenthau, who became the long-serving District Attorney of Manhattan, holding that office for 35 years; Henry Morgenthau III, who became an author and television producer and lived to the age of 101, dying on July 10, 2018; and Dr. Joan Morgenthau Hirschhorn, a noted pediatrician.

Elinor Morgenthau died in 1949. Henry Morgenthau Jr. subsequently married Marcelle Puthon Hirsch in 1951.

The Morgenthau family's tradition of public service extended across multiple generations. Henry Morgenthau III later wrote Mostly Morgenthaus: A Family History, a memoir chronicling the family's contributions to American public life. In 2025, the Museum of Jewish Heritage in New York City opened an exhibit titled "The Morgenthaus: A Legacy of Service," documenting the family's long record of civic engagement.

Henry Morgenthau Jr. died on February 6, 1967, in Poughkeepsie, New York, at the age of 75.

Recognition

Morgenthau received the Medal for Merit from President Truman in recognition of his "exceptionally meritorious conduct in the performance of outstanding services" as Secretary of the Treasury from 1934 to 1945. The citation specifically honored his leadership of the Treasury during both the New Deal and World War II, acknowledging the extraordinary demands placed upon the department during those years.

Time magazine featured Morgenthau on its cover during his tenure as Treasury Secretary, reflecting his status as one of the most prominent and consequential members of the Roosevelt administration.

Morgenthau's role in pressing for the creation of the War Refugee Board has received particular attention from historians of the Holocaust. The United States Holocaust Memorial Museum in Washington, D.C., includes documentation of Morgenthau's January 16, 1944, meeting with Roosevelt and its role in the establishment of the WRB as key events in its historical record of the American response to the Holocaust.

The 2025 exhibition at the Museum of Jewish Heritage in New York City, "The Morgenthaus: A Legacy of Service," includes extensive documentation of Henry Morgenthau Jr.'s career and his contributions to American public life and Jewish causes.

Legacy

Henry Morgenthau Jr.'s legacy is defined by his central role in the financial management of the United States during two of the most consequential periods in American history: the Great Depression and World War II. As the longest-serving Treasury Secretary of the twentieth century, he oversaw the financing of the New Deal's transformative social and economic programs and then managed the far larger task of mobilizing the nation's financial resources for global war.

His role in the rescue of Jewish refugees stands as one of the most significant instances of a high-ranking American official using his position to confront the moral catastrophe of the Holocaust. By exposing the State Department's obstruction of rescue efforts and pressing Roosevelt to establish the War Refugee Board, Morgenthau helped save thousands of lives during the final phase of the war. Historians have noted that the War Refugee Board represented a belated but meaningful shift in American policy, and Morgenthau's advocacy was the primary catalyst for its creation.

The Morgenthau Plan remains a subject of historical debate. While it was never implemented as conceived, it reflected Morgenthau's conviction that only the elimination of Germany's industrial capacity could prevent future aggression. Critics at the time and since have argued that the plan was impractical and potentially counterproductive, a judgment that the subsequent success of the Marshall Plan appeared to vindicate. Nonetheless, the plan illustrated the depth of Morgenthau's engagement with postwar planning and his willingness to advance controversial positions on matters he considered essential to future peace.

The Morgenthau family's tradition of public service, extending from Henry Morgenthau Sr.'s ambassadorship through Henry Jr.'s long tenure at the Treasury and into the careers of his children—particularly Robert M. Morgenthau's decades as Manhattan District Attorney—constitutes one of the most notable family legacies in American political history. The extensive Morgenthau diaries and papers, preserved at the Franklin D. Roosevelt Presidential Library, remain a primary source of extraordinary value for historians studying the New Deal, World War II, the Holocaust, and American political and economic history of the mid-twentieth century.