Creature From Jekyll Island by G. Edward

THE CREATURE FROM JEKYLL ISLAND

Without the assistance of capital it will be impossible for us to retain proletarian power in an incredibly ruined country in which the peasantry, also ruined, constitutes the overwhelming majority—and, of course, for this assistance capital will squeeze hundreds per cent out of us. This is what we have to understand. Hence, either this type of economic relations or nothing...

On another occasion Lenin further explained his rationale for accepting Wall Street's terms. He said:

The Capitalists of the world and their governments, in pursuit of conquest of the Soviet market, will close their eyes to the indicated higher reality and thus will turn into deaf mute blindmen. They will extend credits, which will strengthen for us the Communist Party in their countries; and giving us the materials and technology we lack, they will restore our military industry, indispensable for our future victorious attack on our suppliers. In other words, they will labor for the preparation of their own suicide.2

Arthur Bullard, mentioned previously as the representative in Russia of the U.S. Committee on Public Information, apparently understood the Bolshevik strategy well. Even as early as March of 1918, he sent a cablegram to Washington warning that, while it is true we ought to be ready to help any honest government in need, nevertheless, he said, 'men or money sent to the present rulers of Russia will be used against Russians at least as much as against Germans.... I strongly advise against giving material help to the present Russian government. Sinister elements in Soviets seem to be gaining control.'3

Unfortunately, Mr. Bullard was a minor player in this game, and his opinion was filtered by others along the way. This cablegram was sent to his superior, none other than Col. Edward Mandell House, in hopes that it would be relayed to the President, The message did not get through.

A SIDE TRIP THROUGH WORLD WAR II

Returning to the trail of actual events since that time, let us pause briefly to take a short side trip through World War II.

1. V.I. Lenin, Report to the Tenth Congress of the Russian Communist Party, March 15,1921. Quoted by Sutton, Revolution, p. 157.

2. Quoted by Joseph Finder, Red Carpet (New York: Holt, Rinehart and Winston, 1983), p. 8.

3. Arthur Bullard papers, Princeton University, cited by Sutton, Revolution, p. 46.

THE BEST ENEMY MONEY CAN BUY 295

Financing and profiting from both sides in a conflict has never been more blatant.

ITEM: From the beginning of Hitler's rise to power, German industry was heavily financed by American and British bankers.

Most of the largest U.S. Corporations were knowingly invested in war industries. I.G. Farben was the largest of the industrial cartels and was a primary source of political funding for Hitler. It was Farben that staffed and directed Hitler's intelligence section and ran the Nazi slave labor camps as a supplemental source of manpower for Germany's factories. Farben even hired the New York public relations firm of Ivy Lee, who was John D. Rockefeller's PR specialist, to help improve Hitler's public image in America. Lee, incidentally, had also been used to help sell the Soviet regime to the American public in the late 1920s.1

ITEM: Much of the capital for the expansion of I.G. Farben came from Wall Street, primarily Rockefeller's National City Bank; Dillon, Read & Company, also a Rockefeller firm; Morgan's Equitable Trust Company; Harris Forbes & Company; and, yes, the predominantly Jewish firm of Kuhn, Loeb & Company.2

ITEM: During the Allied bombing raids over Germany, the

factories and administrative buildings of I.G. Farben were spared upon instructions from the U.S. War Department. The War Department was liberally staffed with men, who in civilian life, had been associates of the investment firms previously mentioned. For example, the Secretary of War at that time was Robert P. Patterson.

James Forrestal was Secretary of the Navy and later became Secretary of Defense. Both men had come from Dillon Read and, in fact, Forrestal had been president of that firm.

ITEM: During World War II, under the Lend-Lease program,

the United States sent to the Soviets more than $11 billion in aid, including 14,000 aircraft, nearly half a million tanks and other military vehicles, more than 400 combat ships, and even half of the entire U.S. supply of uranium which then was critically needed for the development of the atomic bomb. But fully one-third of all the Lend-Lease shipments during this period comprised industrial equipment and supplies to be used for the development of the 1 Anthony Sutton, Wall Street and the Rise of Hitler (Seal Beach, California: '76

Press, 1976),. 15-18,33-43, 67-97,99-113. Also Revolution, p. 174.

2. Sutton, Hitler, pp. 23-61.

296 THE CREATURE FROM JEKYLL ISLAND

Russian e c o n o m y after the war. A n d w h e n the w a r did end, the Lend-Lease p r o g r a m continued to flow into the Soviet U n i o n for over a year. As late as the end of 1946, Russia w a s still receiving t w e n t y - y e a r credit terms at 23/s per cent interest, a far lower rate than returning GIs could obtain.1

THE TRANSFUSION MECHANISM

W i t h the termination of the Lend-Lease p r o g r a m , it w a s necessary to invent n e w m e c h a n i s m s for the s u p p o r t of Soviet Russia a n d h e r satellites. O n e of these was the sale of m u c h - n e e d e d c o m m o d i t i e s at prices below the w o r l d m a r k e t and, in fact, below the prices that A m e r i c a n s themselves h a d to p a y for the s a m e