Wall Street and the Bolshevik Revolution
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“Sutton comes to conclusions that are uncomfortable for many businessmen and economists. For this reason, his work tends to be either dismissed out of hand as ‘extreme’ or, more often, simply ignored.” ―Richard Pipes, Baird Professor Emeritus of History, Harvard University (from Survival Is Not Enough: Soviet Realities and America's Future)
Why did the 1917 American Red Cross Mission to Russia include more financiers than medical doctors? Rather than caring for the victims of war and revolution, its members seemed more intent on negotiating contracts with the Kerensky government and, subsequently, the Bolshevik regime.
In a courageous investigation, Antony Sutton establishes tangible historical links between Russian communists and US capitalists. Drawing on US state department files, personal papers of key Wall Street figures, biographies, and conventional histories, Sutton reveals:
- The role of Morgan banking executives in funneling illegal Bolshevik gold into the US.
- The co-option of the American Red Cross by powerful Wall Street forces.
- The intervention by Wall Street sources to free the Marxist revolutionary Leon Trotsky, whose aim was to topple the Russian government.
- The deals made by major corporations to capture the huge Russian market a decade and a half before the US recognized the Soviet regime.
- The secret sponsoring of Communism by leading businessmen, who publicly championed free enterprise.
Wall Street and the Bolshevik Revolution traces the foundations of Western funding of the Soviet Union. Dispassionately, and with overwhelming documentation, the author details a crucial phase in the establishment of Communist Russia.
This classic study―first published in 1974 and part of a key trilogy―is reproduced here in its original form. The other volumes in this trilogy are Wall Street and the Rise of Hitler and Wall Street and FDR.
Disconto Gesellschaft, and Max Warburg, the Hamburg banker, but hard supportive evidence is more elusive. In general, the Sisson Documents, while themselves outright forgeries, are nonetheless based partly on generally authentic information. One puzzling aspect in the light of the story in this book is that the documents came to Edgar Sisson from Alexander Gumberg (alias Berg, real name Michael Gruzenberg), the Bolshevik agent in Scandinavia and later a confidential assistant to Chase
capital into the Soviet Union, and generally to facilitate Russian overseas trade. It opened on December 1, 1922, in Moscow and employed about 300 persons. In Sweden Ruskombank was represented by the Svenska Ekonomibolaget of Stockholm, Olof Aschberg's Nya Banken under a new name, and in Germany by the Garantie und Creditbank fur Den Osten of Berlin. In the United States the bank was represented by the Guaranty Trust Company of New York. On opening the bank, Olof Aschberg commented: The
Crotonon-Hudson, New York. In the letter Reed asserts that he has drawn up a memorandum for the State Department, and appeals to Sands to use his influence to get release of the boxes of papers brought back from Russia. Reed concludes, "Forgive me for bothering you, but I don't know where else to turn, and I can't afford another trip to Washington." Subsequently, Frank Polk, acting secretary of state, received a letter from Sands regarding the release of John Reed's papers. Sands' letter,
order of Professor G. V. Lomonossoff, which we understand that you are kindly forwarding to this gentleman. We shall be glad to have your receipt for same, arid beg to remain, Yours, respectfully, A. B. Nordisk Reserbureau E. Molin * * * * * A. B. Nordisk Resebureau. Stockholm Gentlemen: I beg to acknowledge receipt of your letter of February 26, inclosing a check for $10,000 payable to Professor G. V. Lomonossoff. As I advised you in my letter of February 25, I have been authorized
counter-Bolsheviks. John P. Diggins, in Mussolini and Fascism: The View from America,4 has noted in regard to Thomas Lamont of Guaranty Trust that Of all American business leaders, the one who most vigorously patronized the cause of Fascism was Thomas W. Lamont. Head of the powerful J.P. Morgan banking network, Lamont served as something of a business consultant for the government of Fascist Italy. Lamont secured a $100 million loan for Mussolini in 1926 at a particularly crucial time for