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The Soon Coming Judgment Of God Upon America and How To Escape It 244
$55,994,588 was sent to the areas controlled by the Bolsheviks.
957
Although this charity was officially regarded as a humanitarian effort and officially the
US did not yet recognize the communist government, it can clearly be seen that there was US
favoritism towards the communists. For every $1 given those fighting against the communist
(anti-communist), the U.S gave the communist $168. This ratio of 168 to 1 does not tell the
whole story. At the time the anti-communist still controlled the vast majority of Russia
958
and so
it is possible that on a per capita basis the communist received as much as $1,680 to every $1
received by the anti-communist.
The U.S. Aids Russian Industry
Although US policy didn’t recognize the Communists, that didn’t stop US corporations
from aiding the communist in the form of business investments and loans. “Standard of New
Jersey bought 50 percent of the Nobel’s huge Caucasus oil fields”. In 1927 Standard Oil built an
oil refinery and their subsidiary, “Vacuum Oil Company, concluded a deal to market Soviet oil
in European countries.” Along with this deal it was reported a loan of $75 million was arranged
to the new Communist government. In 1928 the Chase National Bank (now J.P. Morgan Chase)
was involved in selling Russian Communist bonds in the US. The Federal Reserve was also
involved. Describing how the Federal Reserve had aided the Russians, Congressman Louis
McFadden, chairman of the House Banking Committee, stated the following before Congress:
The Soviet Government has been given United States Treasury funds by
the Federal Reserve Board and the Federal Reserve Banks acting through the
Chase bank and the Guarantee Trust Company and other banks in New York
City….
…Open up the books of Amtorg, the trading organization of the Soviet
government in New York, and of Gostorg, the general office of the Soviet Trade
Organization, and of the State Bank of the Union of Soviet Socialists Republics
and you will be staggered to see how much American money has been taken from
the United States’ Treasury for the benefit of Russia. Find out what business has
been transacted for the State Bank of Soviet Russia by its correspondent, the
Chase bank of New York;...
959
There is also a “report in the State Department files that names Kuhn, Loeb & Co. (the
long established and important financial house in New York) as the financier of the First Five
Year Plan” for the Soviets. Jacob Schiff, previously mentioned for his $20 million contribution
to the Russian revolution was a partner in Kuhn, Loeb & Co as well as Federal Reserve
Chairman Paul Warburg.
960
Up to this point, the aid the Soviets had received was far too little to rescue them.
Maintaining control of a nation is a far more difficult task and a far more costly task than taking
control of it. This is particularly true of an autocratic form of government such as the Marxist-
Leninist form of Communism. The Russian people had no incentive to be productive, creative or
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