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Herbert H. Lehman. At laying of the cornerstone of Letchworth Village, a state mental institution near Haverstraw, New York. Courtesy of the Library of Congress (LC-USZ62-102023).

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Lehman, Herbert Henry (28 March 1878–05 December 1963), investment banker and politician, was born in New York City, the son of Mayer Lehman and Babette Newgass, German immigrants. Lehman was reared in the prosperous surroundings of German-Jewish society in midtown Manhattan. His father was a founding partner of Lehman Brothers, a cotton-trading company that developed into a leading investment banking firm....