WALL STREET WAS INSTRUMENTAL
IN THE FINANCING OF THE NAZIS

After WW2, Treasury Secretary  Henry Morgenthau (Right  below in a picture
with FDR) was deeply disturbed by the implications of Wall Street in the rise of
Nazi Germany. He prepared a memorandum to present to President Roosevelt.
The final draft was completed and presented on may 29th after the death of
FDR. It was too late to change the course of History and even FRD would not
have dare to modify it. Wall Street was never prosecuted and some American
financiers and tycoons got away with some of the meanest deeds of WW2 .
THE  HENRY MORGENTHAU MEMORANDUM
May 29, 1945

Lieutenant-General Lucius D. Clay, as Deputy to General Eisenhower, actively runs the
American element of the Control Council for Germany. General Clay's three principal
advisers on the Control Council staff are :

* Ambassador Robert D. Murphy, who is in charge of the Political Division
* Louis Douglas, whom General Clay describes as my personal adviser on economical,
financial and governmental matters." Douglas resigned as Director of the Budget in 1934;
and for the following eight years he attacked the government's fiscal policies. Since 1940,
Douglas has been president of the Mutual Life Insurance Company, and since December
1944, he has been a director of the General Motors Corporation
* Brigadier-General William Draper, who is the director of the Economics Division of the
Control Council. General Draper is a partner of the banking firm of Dillon, Read and
Company.

Sunday's New York Times contained the announcement of key personnel who have been
appointed by General Clay and General Draper to the Economic Division of the Control
Council. The appointments include the following:

* R.J. Wysor is to be in charge of the metallurgical matters. Wysor was president of the
Republic Steel Corporation from 1937 until a recent date, and prior thereto, he was
associated with the Bethlehem Steel, Jones and Laughlin Steel Corporation and the
Republic Steel Corporation
* Edward X. Zdunke is to supervise the engineering section. Prior to the war, Mr. Zdunke
was head of General Motors at Antwerp
* Philip Gaethke is to be in charge of mining operations. Gaethke was formerly connected
with Anaconda Copper and was manager of its smelters and mines in Upper Silesia
before the war
* Philip P. Clover is to be in charge of handling oil matters. He was formerly a
representative of the Socony Vacuum Oil Company in Germany
* Peter Hoglund is to deal with industrial production problems. Hoglund is on leave from
General Motors and is said to be an expert on German production
* Calvin B. Hoover is to be in charge of the Intelligence Group on the Control Council and is
also to be a special advisor to General Draper. In a letter to the Editor of the New York
Times on October 9, 1944, Hoover wrote as follows: " The publication of Secretary
Morgenthau's plan for dealing with Germany has disturbed me deeply ... such a
Carthaginian peace would leave a legacy of hate to poison international relations for
generations to come... the void in the economy of Europe which would exist through the
destruction of all German industry is something which is difficult to contemplate."
* Laird Bell is to be Chief Counsel of the Economic Division. He is a well-known Chicago
lawyer and in May 1944, was elected the president of the Chicago Daily News, after the
death of Frank Knox.

One of the men who helped General Draper in the selection of personnel for the
Economics Division was Colonel Graeme Howard, a vice-president of General Motors,
who was in charge of their overseas business and who was a leading representative of
General Motors in Germany prior to the war. Howard is the author of a book in which he
praises totalitarian practices, justifies German aggression and the Munich policy of
appeasement, and blames Roosevelt for precipitating the war.

So when we examine the Control Council for Germany under General Lucius D. Clay we
find that the head of the finance division was Louis Douglas, director of the
Morgan-controlled General Motors and president of Mutual Life Insurance. (Opel, the
General Motors German subsidiary, had been Hitler's biggest tank producer.) The head of
the Control Council's Economics Division was William Draper, a partner in the Dillon,
Read firm that had so much to do with building Nazi Germany in the first place. All three
men were, not surprisingly in the light of more recent findings, members of the Council on
Foreign Relations.

Were American Industrialists and Financiers Guilty of War Crimes?

The Nuremberg War Crimes Trials proposed to select those responsible for World War II
preparations and atrocities and place them on trial. Whether. such a procedure is morally
justifiable is a debatable matter; there is some justification for holding that Nuremberg was
a political farce far removed from legal principle.7 However, if we assume that there is
such legal and moral justification, then surely any such trial should apply to all, irrespective
of nationality. What for example should exempt Franklin D. Roosevelt and Winston
Churchill, but not exempt Adolf Hitler and Goering? If the offense is preparation for war, and
not blind vengeance, then justice should be impartial.

The directives prepared by the U.S. Control Council in Germany for the arrest and detention
of war criminals refers to "Nazis" and "Nazi sympathizers," not "Germans." The relevant
extracts are as follows: You will search out, arrest, and hold, pending receipt by you of
further instructions as to their disposition, Adolph Hitler, his chief Nazi associates, other
war criminals and all persons who have participated in planning or carrying out Nazi
enterprises involving or resulting in atrocities or war crimes.

Then follows a list of the categories of persons to be arrested, including Nazis and Nazi
sympathizers holding important and key positions in (a) National and Gau Civic and
economic organizations; (b ) corporations and other organizations in which the government
has a major financial interest; (c) industry, commerce, agriculture, and finance; (d)
education; (e) the judicial; and (f) the press, publishing houses and other agencies
disseminating news and propaganda.

Top American industrialists and financiers named in this book are covered by the
categories listed above. Henry Ford and Edsel Ford respectively contributed money to
Hitler and profited from German wartime production. Standard Oil of New Jersey, General
Electric, General Motors, and I.T.T. certainly made financial or technical contributions which
comprise prima facie evidence of "participating in planning or carrying out Nazi
enterprises."

There is, in brief, evidence which suggests:

* cooperation with the Wehrmacht (Ford Motor Company, Chase Bank, Morgan Bank)
* aid to the Nazi Four Year Plan and economic mobilization for war (Standard Oil of New
Jersey)
* creating and equipping the Nazi war machine (I.T.T.)
* stockpiling critical materials for the Nazis (Ethyl Corporation)
* weakening the Nazis' potential enemies (American I.G. Farben)
* carrying on of propaganda, intelligence, and espionage (American I.G. Farben and
Rockefeller public-relations man Ivy Lee)

At the very least there is sufficient evidence to demand a thorough and impartial
investigation. However, as we have noted previously, these same firms and financiers
were prominent in the 1933 election of Roosevelt and consequently had sufficient political
pull to squelch threats of investigation. Extracts from the Morgenthau diary demonstrate
that Wall Street political power was sufficient even to control the appointment of officers
responsible for the denazification and eventual government of post-war Germany.

Did these American firms know of their assistance to Hitler's military machine? According
to the firms themselves, emphatically not. They claim innocence of any intent to aid Hitler's
Germany. Witness a telegram sent by the chairman of the board of Standard Oil of New
Jersey to Secretary of War Patterson after World War II, when preliminary investigation of
Wall Street assistance was under way: " During the entire period of our business contacts,
we had no inkling of Farben's conniving part in Hitler's brutal politics, We offer any help we
can give to see that complete truth is brought to light, and that rigid justice is done."
F.W. Abrams,
Chairman of Board

Unfortunately, the evidence presented is contrary to Abrams' telegraphed assertions.
Standard Oil of New Jersey not only aided Hitler's war machine, but had knowledge of this
assistance. Emil Helfferich, the board chairman of a Standard of New Jersey subsidiary,
was a member of the Keppler Circle before Hitler came to power; he continued to give
financial contributions to Himmler's Circle as late as 1944.

Accordingly, it is not at all difficult to visualize why Nazi industrialists were puzzled by
"investigation" and assumed at the end of the war that their Wall Street friends would bail
them out and protect them from the wrath of those who had suffered. These attitudes were
presented to the Kilgore Committee in 1946: You might also be interested in knowing, Mr.
Chairman, that the top I.G. Farben people and others, when we questioned them about
these activities, were inclined at times to be very indignant. Their general attitude and
expectation was that the war was over and we ought now to be assisting them in helping to
get I.G. Farben and German industry back on its feet.

Some of them have outwardly said that this questioning and investigation was, in their
estimation, only a phenomenon of short duration, because as soon as things got a little
settled they would expect their friends in the United States and in England to be coming
over. Their friends, so they said, would put a stop to activities such as these investigations
and would see that they got the treatment which they regarded as proper and that
assistance would be given to them to help reestablish their industry."

POSTWORD

Roosevelt died on
April 12th 1945, a
month before
Morgenthau completed
his memorandum.
President Truman did
nothing to squash
Morgenthau's fears
and Wall Street kept
on with its business to
finance Germany's
reconstruction as it
had financed Nazis
enterprises. Both Word
Wars were extremely
profitable to Wall
Street big finance
houses.

In July 1945, three
months after the death
of President
Roosevelt,
Morgenthau resigned
as Treasury Secretary.
He was then planning
to turn post-war
Germany into an
agricultural concern.
An idea that did not
have the agreement of
Wall Street nor of
President Harry
Truman. He was a
very capable and
honest man and spent
the rest of his life
using his influence to
help the jewish cause.
He died on February 6,
1967, in
Poughkeepsie, New
York State.
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WALL STREET  & HITLER
PRE-WORD TO THE MEMORANDUM

Real history is always obliterated. It is written by
the victors who do not want to look bad in the eyes
of the future generations. Given the role of America
and US military forces during WW2 in the
destruction of Nazi Germany, official historians
have developed a tendency to forget that before
the war Nazis had supporters all over the world, in
England and in America, and not only in Fascist
Italy or Spain.

The major role of American tycoons and Wall
Street financiers in the rise of Hitlerism was thus
totally swept under the carpet for many years. It is
now totally forgotten -or it has even never been
known by the public- but the main reason behind
General De Gaulle's dislike of the Americans was not their arrogance and their
imperialism but the hypocrisy of a nation that forgot after 1945 her responsibility in the rise
of Adolf Hitler, her contemptuous ignorance of France's concerns in the 30s and her
willingness to forgo Germany's debts vis à vis the victors of WW1 by lending to Hitler
billions of dollars to pay for Germany's reconstruction and war debts to France.

The goal was evident : reinforce Germany's industrial potential and weaken France's
ambitions. America has never wanted an Europe dominated by one single nation and was
thus led to favorise the ambitions of post-WW1 weak Germany.

This policy was not overtly "pro-Nazi" and all American financiers or industrialists were not
"Nazis" but some were and others were just happy to do business with Hitler and his
corrupt regime.
Postwar  Germany
was in rubbles and if
Morgenthau would
have had his say, it
would have stayed so
for a long time and the
Communists would not
have had any difficulty
to take over an
agricultural country
resourceless. His
father had 5 sons and
he used to say that
Henry  was the
imbecile of the family.  
The economic miracle
of  post-war Germany
is largely due to his
ideas : deprived of her
old industrial
equipment, Germany
borrowed new
equipments from the
USA while France and
Russia inherited the
old obsolete pre-war
german industrial
assets. Stupidity is
everywhere on this
planet, notably among
the victors  of a war.