Sutton - Wall Street and the rise of Hitler

ANTONY C. SUTTON, born in London in 1925, was educated at the universities of London, Gottingen and California. He was a Research Fellow at the Hoover Institution for War, Revolution and Peace at Stanford, California, from 1968 to 1973 and later an Economics Professor at California State University, Los Angeles. He is the author of 25 books, including the major three-volume study Western Technology and Soviet Economic Development. He died in 2002.

WALL STREET
AND THE RISE OF HITLER

PUBLISHERS NOTE

Wall Street and the Bolshevik Revolution was first published in 1974. Sadly, the author was not able to update it in his lifetime. It is reproduced here in its original form, as a classic study of the subject.

WALL STREET
AND THE RISE OF HITLER

ANTONY C. SUTTON

Clairview Books
Hillside House, The Square
Forest Row, RH18 5ES

www.clairviewbooks.com

Published by Clairview 2012

First published in 1976 by 76 Press, California

Antony C. Sutton 1976

The moral right of the author has been asserted under the Copyright, Designs and Patents Act, 1988

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of the publishers

A catalogue record for this book is available from the British Library

ISBN 978 1 905570 62 1

Cover by Andrew Morgan Design

Dedication

Dedicated to the memory of Floyd Paxton entrepreneur, inventor, writer, and American, who believed in and worked for individual rights in a free society under the Constitution.

CONTENTS

Introduction
Unexplored Facets of Naziism

Chapter One
Wall Street Paves the Way for Hitler

Chapter Two
The Empire of I.G. Farben

Chapter Three
General Electric Funds Hitler

Chapter Four
Standard Oil Fuels World War II

Chapter Five
I.T.T. Works Both Sides of the War

Chapter Six
Henry Ford and the Nazis

Chapter Seven
Who Financed Adolf Hitler?

Chapter Eight
Putzi: Friend of Hitler and Roosevelt

Chapter Nine
Wall Street and the Nazi Inner Circle

Chapter Ten
The Myth of Sidney Warburg

Chapter Eleven
Wall Street-Nazi Collaboration in World War II

Chapter Twelve
Conclusions

Appendix A
Programme of the National Socialist German Workers Party

Appendix B
Affidavit of Hjalmar Schacht

Appendix C
Entries in the National Trusteeship Account

Appendix D
Letter from U.S. War Department to Ethyl Corporation

Appendix E
Extract from Morgenthau Diary (Germany)

PREFACE

This is the third and final volume of a trilogy describing the role of the American corporate socialists, otherwise known as the Wall Street financial elite or the Eastern Liberal Establishment, in three significant twentieth-century historical events: the 1917 Lenin-Trotsky Revolution in Russia, the 1933 election of Franklin D. Roosevelt in the United States, and the 1933 seizure of power by Adolf Hitler in Germany.

Each of these events introduced some variant of socialism into a major country i.e., Bolshevik socialism in Russia, New Deal socialism in the United States, and National socialism in Germany.

Contemporary academic histories, with perhaps the sole exception of Carroll Quigleys Tragedy And Hope, ignore this evidence. On the other hand, it is understandable that universities and research organizations, dependent on financial aid from foundations that are controlled by this same New York financial elite, would hardly want to support and to publish research on these aspects of international politics. The bravest of trustees is unlikely to bite the hand that feeds his organization.

It is also eminently clear from the evidence in this trilogy that public-spirited businessmen do not journey to Washington as lobbyists and administrators in order to serve the United States. They are in Washington to serve their own profit-maximizing interests. Their purpose is not to further a competitive, free-market economy, but to manipulate a politicized regime, call it what you will, to their own advantage,

It is business manipulation of Hitlers accession to power in March 1933 that is the topic of Wall Street and the Rise of Hitler.

A NTONY C. S UTTON

July, 1976

INTRODUCTION

Unexplored Facets of Naziism

Since the early 1920s unsubstantiated reports have circulated to the effect that not only German industrialists, but also Wall Street financiers, had some role possibly a substantial role in the rise of Hitler and Naziism. This book presents previously unpublished evidence, a great deal from files of the Nuremberg Military Tribunals, to support this hypothesis. However, the full impact and suggestiveness of the evidence cannot be found from reading this volume alone. Two previous books in this series, Wall Street and the Bolshevik Revolution described the roles of the same firms, and often the same individuals and their fellow directors, hard at work manipulating and assisting the Bolshevik revolution in Russia in 1917, backing Franklin D. Roosevelt for President in the United States in 1933, as well as aiding the rise of Hitler in pre-war Germany. In brief, this book is part of a more extensive study of the rise of modern socialism and the corporate socialists.

This politically active Wall Street group is more or less the same elitist circle known generally among Conservatives as the Liberal Establishment, by liberals (for instance G. William Domhoff) as the ruling class, as the Insiders. But whatever we call this self-perpetuating elitist group, it is apparently fundamentally significant in the determination of world affairs, at a level far behind and above that of the elected politicians.

The influence and work of this same group in the rise of Hitler and Nazi Germany is the topic of this book. This is an area of historical research almost totally unexplored by the academic world. It is an historical minefield for the unwary and the careless not aware of the intricacies of research procedures. The Soviets have long accused Wall Street bankers of backing international fascism, but their own record of historical accuracy hardly lends their accusations much credence in the West, and they do not of course criticize support of their own brand of fascism.

This author falls into a different camp. Previously accused of being overly critical of Sovietism and domestic socialism, while ignoring Wall Street and the rise of Hitler, this book hopefully will redress an assumed and quite inaccurate philosophical imbalance and emphasize the real point at issue: Whatever you call the collectivist system Soviet socialism, New Deal socialism, corporate socialism, or National socialism it is the average citizen, the guy in the street, that ultimately loses out to the boys running the operation at the top. Each system in its own way is a system of plunder, an organizational device to get everyone living (or attempting to live) at the expense of everyone else, while the elitist leaders, the rulers and the politicians, scalp the cream off the top,

The role of this American power elite in the rise of Hitler should also be viewed in conjunction with a little-known aspect of Hitlerism only now being explored: the mystical origins of Naziism, and its relations with the Thule Society and with other conspiratorial groups. This author is no expert on occultism or conspiracy, but it is obvious that the mystical origins, the neo-pagan historical roots of Naziism, the Bavarian Illuminati and the Thule Society, are relatively unknown areas yet to be explored by technically competent researchers. Some research is already recorded in French; probably the best introduction in English is a translation of