Thomas W. Lamont, chairman of J. P. Morgan & Company. was the nation's leading Wall Street investment banker. His son and author of this book, Corliss Lamont became a key figure in the Communist organization Friends of the Soviet Union (FSU). In 1943 FSU was restructured under the name National Council of American-Soviet Friendship, with Lamont as its Board Chairman and chief incorporator.
In 1936, Corliss Lamont helped found and subsidized the magazine Marxist Quarterly. When the Dewey Commission reported in 1937 that the Moscow Show Trials of Leon Trotsky and others were fraudulent, Lamont, along with other left-wing intellectuals, refused to accept the Commission's findings. Under the influence of the Popular Front, Lamont and 150 other left-wing writers endorsed Stalin's actions as necessary for "the preservation of progressive democracy". Their letter warned that John Dewey's work was itself politically motivated and charged Dewey with supporting reactionary views and "Red-baiting." Ironically Lamont had done his graduate studies at Columbia University, where he studied under John Dewey
Lamont remained sympathetic to the Soviet Union well after World War II and the establishment of satellite Communist governments in Central and Eastern Europe. He authored a pamphlet entitled The Myth of Soviet Aggression in 1952. He later became president emeritus of the American Humanist Association and in 1977 was named Humanist of the Year.
The Stalinist Lamont never discusses in this book the hard facts later revealed in Antony C. Sutton's Wall Street and the Bolshevik Revolution concerning how his father's firm was instrumental in providing crucial financial support to Lenin's Bolshevik regime and funneling illegal Bolshevik gold into the U.S.
Sutton was the author of the monumental three volume series, Western Technology and Soviet Economic Development 1917-1930; Western Technology and Soviet Economic Development 1930-1945; and Western Technology and Soviet Economic Development 1945 to 1965. He later wrote National Suicide: Military Aid to the Soviet Union; and The Best Enemy Money Can Buy; concerning how the United States and its European allies essentially built the Soviet military industrial complex.