Most guests expected that he would give a brief talk, but Baruch instead launched into a scorching attack on the industrial labor problems in the country. A portrait of the native South Carolinian was to be hung in the state’s House of Representatives, and Baruch was invited for its unveiling. His speech in April 1947, however, was given in a completely different context. After World War II, he remained a trusted adviser to the new administration of Harry S. Roosevelt and members of Congress on international finance and issues of neutrality. During the 1930s, he frequently advised Franklin D. advisers at the Paris Peace Conference that ended World War I. The phrase stuck, and for over 40 years it was a mainstay in the language of American diplomacy.īaruch had served as an advisor to presidents on economic and foreign policy issues since the days of Woodrow Wilson. Multimillionaire and financier Bernard Baruch, in a speech given during the unveiling of his portrait in the South Carolina House of Representatives, coins the term “Cold War” to describe relations between the United States and the Soviet Union.
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