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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:
(a) cooperation with the Wehrmacht (Ford Motor Company, Chase Bank, Morgan Bank);
(b) aid to the Nazi Four Year Plan and economic mobilization for war (Standard Oil of New
Jersey);
(c) creating and equipping the Nazi war machine (I.T.T.);
(d) stockpiling critical materials for the Nazis (Ethyl Corporation);
(e) weakening the Nazis' potential enemies (American I.G. Farben);
and,
(f) 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
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CHAPTER ELEVEN: Wall Street-Nazi Collaboration in World War II
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 in. dignant. 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.8
Footnotes:
1
Morgenthau Diary (Germany).
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2
Ibid.
3
Ibid.
4
Ibid., pp. 800-2.
5
James Stewart Martin, All Honorable Men, op. cit., p. 75.
6
Morgenthau Diary (Germany), p. 1543. Colonel Graeme K.
Howard's book was entitled, America and a New World Order,
(New York: Scribners, 1940).
7
The reader should examine the essay, "The Return to War
Crimes," in James J. Martin, Revisionist Viewpoints, (Colorado:
Ralph Mules, 1971).
8
Elimination of German Resources, p. 652.
BACK
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CHAPTER TWELVE: Conclusions
CHAPTER TWELVE
Conclusions
We have demonstrated with documentary evidence a number of critical associations
between Wall Street international bankers and the rise of Hitler and Naziism in Germany.
First: that Wall Street financed the German cartels in the mid-1920s which in turn proceeded
to bring Hitler to power.
Second: that the financing for Hitler and his S.S. street thugs came in part from affiliates or
subsidiaries of U.S. firms, including Henry Ford in 1922, payments by I.G. Farben and
General Electric in 1933, followed by the Standard Oil of New Jersey and I.T.T. subsidiary
payments to Heinrich Himmler up to 1944.
Third: that U.S. multi-nationals under the control of Wall Street profited handsomely from
Hitler's military construction program in the 1930s and at least until 1942.
Fourth: that these same international bankers used political influence in the U.S. to cover up
their wartime collaboration and to do this infiltrated the U.S. Control Commission for
Germany.
Our evidence for these four major assertions can be summarized as follows:
In Chapter One we presented evidence that the Dawes and Young Plans for German
reparations were formulated by Wall Streeters, temporarily wearing the hats of statesmen,
and these loans generated a rain of profits for these international bankers. Owen Young of
General Electric, Hjalmar Schacht, A. Voegler, and others intimately connected with Hitler's
accession to power had earlier been the negotiators for the U.S. and German sides,
respectively. Three Wall Street houses Dillon, Read; Harris, Forbes; and, National City
Company handled three-quarters of the reparations loans used to create the German cartel
system, including the dominant I.G. Farben and Vereinigte Stahlwerke, which together
produced 95 percent of the explosives for the Nazi side in World War II.
The central role of I.G. Farben in Hitler's coup d' état was reviewed in Chapter Two. The
directors of American I.G. (Farben) were identified as prominent American businessmen:
Walter Teagle, a dose Roosevelt associate and backer and an NRA administrator; banker
Paul Warburg (his brother Max Warburg was on the board of I.G. Farben in Germany); and
Edsel Ford. Farben contributed 400,000 RM directly to Schacht and Hess for use in the
crucial 1933 elections and Farben was subsequently in the forefront of military development
in Nazi Germany.
A donation of 60,000 RM was made to Hitler by German General Electric (A.E.G.), which
had four directors and a 25-30 percent interest held by the U.S. General Electric parent
company. This role was described in Chapter Three, and we found that Gerard Swope, an
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CHAPTER TWELVE: Conclusions
originator of Roosevelt's New Deal (its National Recovery Administration segment),
together with Owen Young of the Federal Reserve Bank of New York and Clark Minor of
International General Electric, were the dominant Wall Streeters in A.E.G. and the most
significant single influence.
We also found no evidence to indict the German electrical firm Siemens, which was not
under Wall Street control. In contrast, there is documentary evidence that both A.E.G. and
Osram, the other units of the German electrical industry both of which had U.S.
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