Prescott Sheldon Bush (May 15, 1895 – October 8, 1972) was a Wall Street executive banker, and a United States Senator representing Connecticut from 1952 until January 1963. He was the father of the 41st President of the United States George H. W. Bush and the grandfather of 43rd President George W. Bush.

Early life

Bush was born in Columbus, Ohio, to Samuel Prescott Bush and Flora Sheldon Bush. Samuel Bush was a railroad executive, then a steel company president, and, during World War I, also a federal government official in charge of coordination and assistance to major weapons contractors.

Bush attended St. George's School in Newport, Rhode Island, from 1908 to 1913. In 1913, he enrolled at Yale University, where his grandfather James Smith Bush, class of 1844 and his uncle Robert E. Sheldon Jr., class of 1904, had matriculated. Three subsequent generations of the Bush family have been Yale alumni. Prescott Bush was admitted to the Zeta Psi fraternity and Skull and Bones secret society. George H. W. Bush and George W. Bush are also members of that society. A disputed urban legend holds that Bush stole the bones of Geronimo for the society while he was stationed at Fort Sill. In 2009, Ramsey Clark filed a lawsuit on behalf of people claiming to be Geronimo's descendants against Skull and Bones, Barack Obama, and Robert Gates in connection with the alleged theft, seeking to have Geronimo's remains moved from Oklahoma to New Mexico. The Oklahoma descendants of Geronimo filed suit to prevent such a move.

Prescott Bush played varsity golf, football, and baseball, and was president of the Yale Glee Club.

Military service

After graduation, Bush served as a field artillery captain with the American Expeditionary Forces (1917–1919) during World War I. He received intelligence training at Verdun, France, and was briefly assigned to a staff of French officers. Alternating between intelligence and artillery, Bush came under fire in the Meuse-Argonne offensive. In what became a controversy, Bush wrote home about receiving medals for heroic exploits, and his letters were later published in Columbus newspapers. He retracted such claims in a cable in which he stated that his earlier letter had been written "in a spirit of fun" and was not intended for publication.

Business career

After his discharge in 1919, Prescott Bush went to work for the Simmons Hardware Company in St. Louis, Missouri.

The Bushes moved to Columbus, Ohio, in 1923, where Prescott Bush went to work for the Hupp Products Company, where his business efforts generally failed. He left in November 1923 to become president of sales for Stedman Products in South Braintree, Massachusetts. During this time, he lived in a Victorian home at 173 Adams Street in Milton, Massachusetts, where his son, George H.W. Bush, was born.

In 1924, Bush became vice-president of A. Harriman & Co. His father-in-law, George Herbert Walker also worked with the company, as did E. Roland Harriman and Knight Woolley, Bush's Yale classmates and fellow Bonesmen. Seven years later, Bush became a partner of Brown Brothers Harriman & Co., which was created through the 1931 merger of A. Harriman & Co with Brown Bros. & Co. (a merchant bank founded in Philadelphia, Pennsylvania, in 1818) and with Harriman Brothers & Co. (established in New York City in 1927).

In 1925, Bush joined the United States Rubber Company of New York City as manager of the foreign division, and moved to Greenwich, Connecticut. He was an avid golfer, and in 1935 named head of the USGA.

From 1944 to 1956, Bush was a member of the Yale Corporation, the principal governing body of Yale University. Bush was on the board of directors of CBS, having been introduced to chairman William S. Paley around 1932 by his close friend and colleague William Averell Harriman, who became a major Democratic Party power-broker.

Bush and the Union Banking Corporation

Bush was one of seven directors of the Union Banking Corporation, an investment bank controlled by the Thyssen family, which was seized in October 1942 under the Trading with the Enemy Act as being owned by "enemy aliens." The assets were held by the government for the duration of the war, then returned afterward.

In an article relying on John Buchanan's work, The Guardian stated that the company formed part of a multinational network of front companies to allow Thyssen to move assets around the world.The Alien Property Custodian records state "Whether all or part of the funds held by Union Banking Corporation, or companies associated with it, belong to Fritz Thyssen could not be established in this investigation." The seizure of companies under the Act were designated "classified" and declassified in 2002 when all similar records were declassified.

In 2003, the Anti-Defamation League responded, saying:

On September 25th of 2004, just over a month before the U.S Presidential Election, The Guardian, a left wing British paper, ran a story about business links between Prescott Bush and "the financial backers of Nazi Germany,". While noting that throughout the 1930s these activities were not illegal, the new documents, many of which were only declassified in 2002, show that even after America had entered the war and when there was already significant information about the Nazis' plans and policies, he worked for and profited from companies closely involved with the very German businesses that financed Hitler's rise to power. It has also been suggested that the money he made from these dealings helped to establish the Bush family fortune and set up its political dynasty. The article further states "A report issued by the Office of Alien Property Custodian in 1942 stated of the companies that "since 1939, these (steel and mining) properties have been in possession of and have been operated by the German government and have undoubtedly been of considerable assistance to that country's war effort" and "Erwin May, a treasury attache and officer for the department of investigation in the APC, was assigned to look into UBC's business. The first fact to emerge was that Roland Harriman, Prescott Bush and the other directors didn't actually own their shares in UBC but merely held them on behalf of Bank voor Handel." The primary source for the article was John Buchanan described in the article as "suffers from hypermania, a form of manic depression, and when he found himself rebuffed in his initial efforts to interest the media, he responded with a series of threats against the journalists and media outlets that had spurned him. The threats, contained in e-mails, suggested that he would expose the journalists as "traitors to the truth"."

Political career

Bush was politically active on social issues. He was involved with the American Birth Control League as early as 1942, and served as the treasurer of the first national capital campaign of Planned Parenthood in 1947. Bush was also an early supporter of the United Negro College Fund, serving as chairman of the Connecticut branch in 1951.

From 1947 to 1950, he served as Connecticut Republican finance chairman, and was the Republican candidate for the United States Senate in 1950. A columnist in Boston said that Bush "is coming on to be known as President Truman's Harry Hopkins. Nobody knows Mr. Bush and he hasn't a Chinaman's chance." Bush's ties with Planned Parenthood also hurt him in heavily Catholic Connecticut, and were the basis of a last-minute campaign in churches by Bush's opponents; the family vigorously denied the connection, but Bush lost to Benton by only 1,000 votes.

In 1952, he was elected to the Senate, defeating Abraham Ribicoff for the seat vacated by the death of James O'Brien McMahon. A staunch supporter of President Dwight D. Eisenhower, Bush served until January 1963. He was reelected in 1956 with 55 percent of the vote over Democrat Thomas J. Dodd (later U.S. Senator from Connecticut and father of the current U.S. Senator from Connecticut, Christopher J. Dodd), and decided not to run for another term in 1962. He was a key ally for the passage of Eisenhower's Interstate Highway System, and during his tenure supported the Polaris submarine project (which were built by Electric Boat Corporation in Groton, Connecticut), civil rights legislation, and the establishment of the Peace Corps.

On December 2, 1954, Bush was part of the large (67-22) majority to censure Wisconsin Republican Senator Joseph McCarthy, after McCarthy had taken on the U.S. Army and the Eisenhower administration. Eisenhower later included Bush's name on an undated handwritten list of prospective candidates he favored for the 1960 GOP presidential nomination.

In terms of issues, Bush often agreed with New York Governor Nelson Rockefeller, but personally disliked and politically opposed him, despite the close relationship his father had with the Rockefeller family. During the 1964 election, Bush denounced Rockefeller for divorcing his first wife and marrying a woman about 20 years his junior with whom Rockefeller had been having an affair while married to his first wife.

Personal life

Bush married Dorothy Walker on August 6, 1921, in Kennebunkport, Maine. They had five children: Prescott "Pressy" Bush, Jr. (b. 1922), George H. W. Bush (b. 1924, named after Dorothy's father George Herbert Walker), Nancy Bush (b. 1926), Jonathan Bush (b. 1931), and William "Bucky" Bush (b. 1938).

Bush founded the Yale Glee Club Associates, an alumni group, in 1937. Following his father-in-law, he was a member of the United States Golf Association , serving successively as secretary, vice-president and president, 1928-1935. He was a multi-year club champion of the Round Hill Club in Greenwich, Connecticut, and was on the committee set up by New York City Mayor Robert F. Wagner, Jr. to help create the New York Mets.

Bush maintained homes in New York, Long Island, and Greenwich, Connecticut; the family compound at Kennebunkport, Maine; a 10,000 acre (40 km²) plantation in South Carolina; and a secluded island off the Connecticut coast, Fishers Island.

He died in 1972 at age 77 and was interred at Putnam Cemetery in Greenwich, Connecticut.

Writings

Bush's articles include:

• "Timely Monetary Policy," Banking, June 1955 and July 1955
• "To Preserve Peace Let's Show the Russians How Strong We Are!" Reader's Digest, July 1959
• "Politics Is Your Business," Chamber of Commerce, State of New York, Bulletin, May 1960

Further reading

• The Prescott Bush Papers are at the University of Connecticut, Storrs.
• The Greenwich Library Oral History Project has interviews with Prescott Bush, Jr., and Mary Walker.
• There is material by and about Bush in the History of the Class of 1917 Yale College (1919) and the supplementary class albums.
• John Atlee Kouwenhoven, Partners in Banking: An Historical Portrait of a Great Private Bank, Brown Brothers Harriman (1968).
• Obituaries are in the Washington Post, October 9, 1972; the New York Times, October 9, 1972; the Hartford Courant, October 9, 1972; and Yale Alumni Magazine, December 1972.
• "Prescott Sheldon Bush. "Dictionary of American Biography, Supplement 9: 1971-1975. Charles Scribner's Sons, 1994.
• Darwin Payne, Initiative in Energy: Dresser Industries, Inc., 1880-1978. New York: Simon and Schuster (1979).

References

See also

• Geronimo

External links

• University of Connecticut's profile of Prescott Bush
• Bush Family Tree
• Retrieved on 2009-02-24