The following is from a 1951 petition to the United Nations entitled "We Charge Genocide" edited by William L. Patterson for The Civil Rights Congress, New York.
There was a time when Wall Street governed by pressure and influence. It now governs directly. Wall Street and the United States Government are identical as to personnel as far as the Government's most powerful offices are concerned. This is proved by the following list, prepared by the Labor Research Association, of Wall Street officers in key government positions: Director of the Office of Defense Mobilization: Charles E. Wilson, formerly president of General Electric Co. and director of Guaranty Trust Co., a Morgan bank. Wilson has retired from GE on a pension of $62,000 a year. He has powers greater than any official except the President in time of peace—and some conservative commentators claim his powers are even greater. Secretary of the Navy: Francis P. Matthews, chairman of board of Securities Acceptance Corp., Omaha; former director Northwestern Bell Telephone Co.; director Central National Insurance Co. of Omaha. Secretary of Defense: General George C. Marshall, director of Pan-American World Airways, a Morgan company, since replaced by: Under-Secretary of Defense: Robert A. Lovett, partner in Brown Brothers,Harriman & Co., leading New York investment house; director Union Pacific and other railroads, and New York Life Insurance Co. Secretary of the Air Force: Thomas K. Finletter, partner in Coudert Bros.,a law firm which has represented Franco Spain in the U.S.; director American Machine & Metals, Inc.; long advocate of a huge expansion in military and naval aircraft construction. Co-ordinator of Economic Mobilization (preceding Wilson): W. Stuart Symington, later chairman of National Security Resources Board, now chair man Reconstruction Finance Corporation which finances private plant exparision. Symington had previously been president of Colonial Radio Corp., president of Rustless Iron & Steel Co., and president and chairman of Emerson Electric Mfg. Co. Secretary of Commerce: Charles Sawyer, corporation lawyer of Cincinnati, formerly of the law firm representing Procter & Gamble Co.; director of American Thermos Bottle Co., Union Central Life Insurance Co., and the Crosley Co. Chairman Defense Production Administration: William Henry Harrison, former president, International Telephone & Telegraph Corp., a Morgan monopoly. Harrison was also chairman of the Federal Telephone & Radio Corp. and of International Standard Electric Corp., I.T.&T. subsidiaries. Special Assistant to C. E. Wilson in Office of Defense Mobilization: Sidney J. Weinberg, senior partner in Goldman, Sachs & Co., one of Wall Street's leading firms; director of General Electric Co., B. F. Goodrich Co., General Foods Corp., Continental Can Co., General Cigar Co., McKesson & Robbins, Sears Roebuck & Co., National Dairy Products Corp., and other corporations. Weinberg has been one of the chief Wall Streeters engaged in recruiting big businessmen to take government posts; many are from corporations of which he is a director. (Recently resigned after finishing his recruiting.) Assistant to C. E. Wilson in Office of Defense Mobilization: General Lucius D. Clay, chairman of Continental Can Co., director Lehman Corp. and Newmont Mining Corp. (Morgan), largest copper-mining investment company with large holdings in African mines as well as in Phelps-Dodge Corp. and Kennecott Copper Corp. (Clay resigned on March 30 to return to the Continental Can Co., but he will still act as a "consultant.") Adviser on Public Relations in Office of Defense Mobilization: W. Howard Chase, director of public relations of General Foods Corp. Assistant to Director for Materials, ODM: Fred Searls, Jr., president Newmont Mining Co. (Although Searls resigned recently, his influence exerted rhrough others still dominates policy relating to copper and other metals.) Deputy Administrator for Staff Services: Edwin T. Gibson, vice-president and director, General Foods Corp. Handles the job of certifying tax amortizations for corporate expansion, huge governmental donations to private companies. Director, Chemical Division, NPA: John S. Bates, president, Ciba Pharmaceutical Products, subsidiary of one of world's major chemical cartels. Director, Machinery Division, NPA: Marshall M. Smith, vice-president, E. W. Bliss Co., allocates machine tools, the basic equipment for all war production. Director, Rubber Division, NPA: Leland E. Spencer, vice-president, Kelly-Springfield Tire Co., subsidiary of Goodyear Tire & Rubber Co., chief rubber products manufacturing company in U.S. Director, Iron and Steel Division, NPA: Melvin W. Cole, assistant general manager, Western Sales Division of Bethlehem Steel Corp., second largest steel company in the country. Deputy Administrator, Petroleum Adm. for Defense: Bruce K. Brown, president, Pan-American Petroleum & Transport Co., controlled by Standard Oil of Indiana. Administrator, Defense Electric Power Orm.: Clifford B. McManus, president Georgia Power Co., second largest subsidiary of Commonwealth & Southern, giant Morgan utility holding company. Administrator, Defense Solid Fuels Adm.: Charles W. Connor, formerly in charge of coal mine operations of Armco Steel Corp. Administrator of Economic Stabilization Agency: Eric A. Johnston, formerly president, Chamber of Commerce of the U.S.; director, Seattle First National Bank, United Air Lines and Bank of America, and president of Motion Picture Association of America. In the latter position he was known as czar of the film industry. Director, Transportation, Public Utilities, Fuel and Services Division, OPS: Richard L. Bowditch, director Boston & Maine R.R., Sprague Steamship Co., First National Bank of Boston and Liberty Mutual Insurance Co. Chairman, Munitions Board: John D. Small, president, Maxson Food Systems, chairman of the mercantile section of the New York Board of Trade; formerly vice-president, Emerson Radio & Phonograph Corp. Vice-Chairman of Munitions Board: William T. Van Etten, vice-president, Dun & Bradstreet, Inc., former chairman, New York Board of Trade. Vice-Chairman, Munitions Board: Cornelius W. Middleton, director, Babcock and Wilcox Co., one of the largest metal manufacturers closely linked to U.S. Steel, Republic Steel and General Electric. Vice-Chairman, Munitions Board: Roscoe Seybold, former vice-president, Wesunghouse Electric Supply Co. Deputy Chief of U.S. Delegation to United Nations: John Foster Dulles, director, International Nickel Co. of Canada, American Agricultural Chemical Co., Babcock & Wilcox Corp., American Bank Note Co., trustee of Bank of New York and Fifth Ave. Bank, partner in Sullivan & Cromwell, Wall Street law firm representing Morgan, Rockefeller and other leading financial interests; associated with banking circles which backed Hitler in Germany such as J. Henry Schroder Banking Corp. and I. G. Farben, clients of Sullivan & Cromwell. Presidential Assistant and White House Coordinator on Foreign Policy: W. Averell Harriman, partner of Brown Bros., Harriman & Co.; former vice-president, Union Pacific Railroad, director at one time or another of Guaranty Trust Co. of New York (a Morgan Bank), Illinois Central RR, Western Union Telegraph Co. and many other railroad and shipping companies. Assistant Secretary of State for Economic Affairs: William L. Thorp, director, General Public Utilities Corp., formerly trustee, Associated Gas and Electric Corp., director Associated Electric Co. and United Coach Co. Assistant Secretary of State for European Affairs: George V. Perkins, vicepresident, Merck & Co., chemical company related to Nazi firm of same name; formerly director, City Bank Farmers Trust Co., leading Wall Street bank. Director of Policy Planning Staff of State Department: Paul H. Nitze, former vice-president, Dillon Read & Co., vice-president and director, U.S. Commercial Co., director, Rubber Development Co.; through his family and Dillon Read, closely connected with German cartelists and with North German Lloyd interests. Ambassador to Great Britain: Walter S. Gifford (replacing Lewis W. Douglas, chairman of Mutual Life Insurance Co. and director of American Cyanamid Co., who resigned in September, 1950), former chairman, American Telephone and Telegraph Co., director, U.S. Steel Corp., First National Bank of New York, main bank in the Morgan-First National financial interest group. Comments are closed.
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