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Examines how J.P. Morgan, then the world's leading bank, responded to the greatest crisis in the history of financial capitalism.
This is the first full-length study of one of the major political figures of twentieth-century America, Hiram Johnson (1866-1945). Elected governor of California in 1910, reelected in 1914, and elevated to the United States Senate in 1916, he characteristically cut his own political path, bringing an apocalyptic intensety to the many battles he waged. Armed with a sharp wit, a talent for invective, and a capacity for self-righteousness, he invigorated the political order around him with the passion he invested in it. Stubbornly independent, he pursued his goals with a fighter's determination. For Johnson, politics was an art not of compromise but of confrontation. As he himself put it, he preferred to be a "bloc of one." Johnson began his political career as an insurgent, a progressive in the stamp of Robert La Follette and Theodore Roosevelt. As governor he thoroughly revamped California's political and social order, creating a legacy that can still be felt today. He helped shape a progressive movement on the national level as well, and was Theodore Roosevelt's running mate on the Progressive party ticket in 1912. Johnson left the governorship in 1917, midway through his second term, to enter the United States Senate, where he served until his death in 1945. Arriving on the eve of America's entry into World War I, he continued to define himself as a reformer but quickly embraced a second cause as well, becoming one of the nation's most adamant proponents of American isolationism. He opposed American entry into the League of Nations in 1919, fought persistently against U.S. entanglement abroad throughout the inter-war years, and from his deathbed voted in 1945 against American entry into the United Nations. Although today he is best remembered as a fierce and uncompromising isolationist, his accomplishments in the Senate as a progressive - such as his decade-long fight for Hoover Dam - were significant and lasting. Johnson's public career encompasses and illuminates almost all the significant political issues, both domestic and international, in American life during the first half of the twentieth century.
‘The contribution made by American capitalism to German war preparations can only be described as phenomenal. It was certainly crucial to German military capabilities... Not only was an influential sector of American business aware of the nature of Naziism, but for its own purposes aided Naziism wherever possible (and profitable) - with full knowledge that the probable outcome would be war involving Europe and the United States.’ Penetrating a cloak of falsehood, deception and duplicity, Professor Antony C. Sutton reveals one of the most remarkable but unreported facts of the Second World War: that key Wall Street banks and American businesses supported Hitler’s rise to power by financing and trading with Nazi Germany. Carefully tracing this closely guarded secret through original documents and eyewitness accounts, Sutton comes to the unsavoury conclusion that the catastrophic Second World War was extremely profitable for a select group of financial insiders. He presents a thoroughly documented account of the role played by J.P. Morgan, T.W. Lamont, the Rockefeller interests, General Electric Company, Standard Oil, National City Bank, Chase and Manhattan banks, Kuhn, Loeb and Company, General Motors, the Ford Motor Company, and scores of others in helping to prepare the bloodiest, most destructive war in history. This classic study, first published in 1976 - the third volume of a trilogy - is reproduced here in its original form. (The other volumes in the series study the 1917 Lenin-Trotsky Revolution in Russia and the 1933 election of Franklin D. Roosevelt in the United States.)
With increasing world economic interdependence and a new position as a creditor nation, the American business community became more actively and vocally concerned with foreign policy after World War I than ever before. This book details the response of American businessmen to such foreign policy issues as the tariff, disarmament, allied debts, loans, and the Manchurian crisis. Far from presenting a monolithic front, the business community fragmented into nationalist and internationalist camps, according to this study. Division over each issue varied with the size, type, and geographic region of the various business interests, and despite their formidable economic power, business internationalists are shown to have played a more limited role on certain issues than has been formerly assumed. Unfortunately for the future development of United States diplomacy and world stability, no institutional means for tempering business influence on the formulation of foreign policy, or for coordinating economic and political foreign policies, were developed in the twenties.