 Eugene R. Black papers
Collection DescriptionHistorical SketchEugene Black, grandson of Henry W. Grady, founder-editor of The Atlanta Constitution and distinguished Southern leader, and son of Eugene Robert Black, former member of The Federal Reserve Board, was born in Atlanta, Georgia and graduated with Phi Beta Kappa honors from the University of Georgia. After serving in the United States Navy during World War I, he began his distinguished career in the financial world with Harris, Forbes and Company, an investment house that, in 1933, became part of The Chase National Bank. Mr. Black advanced through posts of increasing responsibility, becoming a Vice President of the bank in 1937. In 1947 he was named the United States Director of the International Bank for Reconstruction and Development. The World Bank, as it is commonly called, had been established at the Bretton Woods monetary conference in 1944 as an autonomous international organization for the purpose of providing loans to member nations to aid them in recovering from the effects of the Second World War and to promote economic growth. In 1949 Mr. Black returned to The Chase National Bank but almost immediately was called back to the World Bank as President and Chairman. With Mr. Black as its leader, the bank became a potent force in the international community and in the continuing development of the world economy. Simultaneously, he served as President of the International Development Association and the International Finance Corporation. Through these institutions, and Mr. Black's striking success in introducing World Bank bonds to the leading financial markets of the world, private and public capital was mobilized on an international basis and channeled into productive projects in the developing countries for power, transportation, agriculture, communications, industry and other essential purposes. Mr. Black also made invaluable contributions in leading the World Bank Group to a vital role as mediator and conciliator in the peaceful settlement of intense international controversies, of which the dispute over compensation for the nationalization of the Suez Canal and the dispute between India and Pakistan over the division of the waters of the Indus River System are well-known examples. Combining a banker's prudence with a statesman's vision, and smoothing the way with unfailing Southern charm, Mr. Black built a bridge of development and trust between the world of private finance and the emerging nations and became a symbol of international cooperation for the common good. When he retired from World Bank activities in January 1963, Mr. Black no doubt assumed that his life would be less hectic, but it was not to be. As a reflection of the business world's esteem for him, he was elected to the Boards of some of the nation's most important firms, including The Chase Manhattan Bank, Royal Dutch Shell Company, International Telephone & Telegraph Company, The New York Times, F. W. Woolworth Company, Cummins Engine Company, American Express Company, and The Howmet Corporation, of which he was recently named Chairman of the Board. Mr. Black has also served as President of the American Shakespeare Festival and on the Boards of a large number of other organizations devoted to the material and spiritual betterment of man, such as the Ford Foundation, The Johns Hopkins University, the Brookings Institution, Project Hope and the Population Council. Governments of the World have also called on his time and talents. Mr. Black has been the Special Financial Consultant to the Secretary-General of the United Nations, Financial Advisor to the Sheik of Kuwait, and has served the Government of the United States in many capacities. Of particular note has been his service as Special Advisor to the President for Economic and Social Development of Southeast Asia since 1965. Surely, few men in our time have carried heavier or more significant political and economic responsibilities. As might be expected, Mr. Black has been the recipient of numerous honors and awards, including honorary degrees granted to him by colleges and universities in this country and in other lands, but he is in all probability unique in receiving degrees from Harvard, Princeton and Yale in a single year. In 1969 he was given the Medal of Freedom, the highest honor that the United States can grant to a civilian. Scope and ContentThe collection consists of the papers of Eugene Robert Black from 1917-1974. The papers include correspondence, speeches, newspaper clippings, photographs, scrapbooks, records relating to his travels, and printed materials by or about Black. The papers pertain mainly to his work at the Chase National Bank, the International Bank for Reconstruction and Development (World Bank), and as an international economic advisor. Administrative InformationPreferred CitationEugene R. Black papers. MS 1108. Hargrett Rare Book and Manuscript Library, University of Georgia Libraries. Finding Aid PublicationFinding aid prepared on: 2010 March 22. Related Materials and SubjectsSubject Terms | ||||||||||||||||||