This book was originally published in 1933 under the title THE FINANCIAL SOURCES OF NATIONAL SOCIALISM. It's author, "Sidney Warburg" is believed to be a pseudonym for James Warburg, an American banker and son of Paul Warburg, Secretary of State under Wilson. The book remained on the shelf for a very short time and was declared a forgery by the Warburg family. Others believe it to be a true and tragic tale of a man caught up in a world whose treachery he despised. Indeed, he introduces himself as being a "cowardly instrument" of American banking colleagues.
The book was again published in 1983 under the present title. It begins with the "hell" of the 1929 stock market crash and the attempts by Wall Street to restore economic stability, not only to the United States, but to the world as a whole. The bankers concluded that a prosperous Germany was necessary, but was hindered by the French, who had been "favored" by the Versailles Treaty imposed by Woodrow Wilson following World War 1. France refused to negotiate, maintaining its favored position of making its reparations to Germany as reduced as possible. It was decided by Wall Street that a "revolution" was in order, and "this man Hitler" might just be the person with which to meet. As Mr. Warburg spoke flawless German, he would be the man for the job.
The meeting took place without Hitler knowing his contact person was Jewish. The thought "crossed his mind, but he didn't ask." His first meeting with Hitler "made a "singular impression" on him. His confused rambling centered on the plights of the unemployed and the general poverty of the people. It was not helped by the "swindling of Jewish banks" and the general corruption of the German leaders. Mr. Warbur, after consultation with "New York" agreed to accommodate Hitler's request for one hundred million marks. The stipulations of this gift was that "an aggressive foreign policy towards France" be pursued. He also was expected to asked Hitler how much money he would need to pursue a revolution in Germany.
The author digresses here to discuss international finances. It seemed that in 1931 the Bank of England gave up the gold standard. This led to further fears of weakening markets, particularly if England cooperated with France. The French financiers were described as "the most clever of manipulaters." They negotiated with "New York" and the Federal Reserve, making a bargain strengthing their position. In October of 1931, a tense Wall Street was once again contacted by Hitler. He needed a great deal of money. It was the consensus of Wall Street to once again send Mr. Warburg to Germany. There the author mentions a conversation with a Jewish banker who was supportive of Hitler. The banker went on to say "By Jews, Hitler means Galician Jews who polluted Germany after the war. He recognizes Jews of pure German origin as equal to other Germans, and when the time comes, he will not bother us in any way. Also you must not forget that Jews control both the Social Democratic Party and the Communist Party. He will have to win these over, not because they are Jews, but because they are Communists or Social Democrats."
Mr. Warburg became increasingly convinced tht Hitler wanted to achieve a goal supported by the majority of the German people. Once again, the two men met. This time Hitler expressed triumph in his work with the unemployed. He expressed that a great deal more money was needed for the military, and that within two years, France would be surrounded by German armies. He also stressed his concern of Stalin who he felt was gaining the support of the Russian people. Again he stated that unemployment would no longer be a problem after one year. However, it appeared that Hitler was becoming increasingly more disorganized in his thinking and making frequent contradictions. Once again, he stressed the need for more money. He discussed revolution to gain power in Germany. Much money would have to go to the unemployed. He asked for five hundred million marks. "You people there in America must be interested in our party coming to power in Germany, otherwise you wouldn't be here and ten million dollars would never have been given to me in 1929." At this point Hitler was screaming and rambling. Mr. Warburg had "had enough." He did however, phone New York and was informed that the five hundred million requested marks were "out of the question. Fifteen million dollars was the maximum." Hitler accepted. Wall Street reiterated again that "an aggressive foreign policy be pursued."
I shall not go on with further conversations. Hitler's fanaticism grew, unable to forget World War 1 when Germany was broken as a people, the result of a broken economic life. There were more requests for money. It was explained to him that his next request of twenty-five million marks would disturb the stock market. He was given seven million dollars. At this time he was dictator of the largest European country. The author now knew that his extreme rages and rantings would lead to nothing good. At this point he said, "The world continues to suffer under a system that has to bow to a Hitler to keep itself on its feet."
It is sad to note the disturbed Hitler appeared only to care about helping the unemployed. He was equally concerned about Jewish Bolshevism, a movement begun in Russia. It was now threatening the German state and "threatening to to destroy the existence of Christianity." One gets the distinct impression that his mission to help the unemployed and preserve Christianity was seriously undermined by American banking interests.
"Poor world, Poor humanity."
Operating within a financial system of which he was a part appeared to be a personal tragedy to the author, as well as for the world. He was unable to reconcile himself to that which he had done. This short book is nothing short of a confession and personal apology.
Pamela K. Johnson
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