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.
American International Corp., and partner, Kuhn, Loeb & Co., speaking to the League/or Industrial Democracy, New York, December 30, 1924 Before World War I, the financial and business structure of the United States was dominated by two conglomerates: Standard Oil, or the Rockefeller enterprise, and the Morgan complex of industries — finance and transportation companies. Rockefeller and Morgan trust alliances dominated not only Wall Street but, through interlocking directorships, almost
helping us to get recognition from the State Department are the big Chit ago packers, Armour, Swift, Nelson Morris and Cudahy ..... Among the other firms are . . . the American Steel Export Company, the Lehigh Machine Company, the Adrian Knitting Company, the International Harvester Company, the Aluminum Goods Manufacturing Company, the Aluminum Company of America, the American Car and Foundry Export Company, M.C.D. Borden & Sons."17 The New York Times followed up these claims and reported
over this that he was willing to go on the board, and offers the most active cooperation. I felt very good over getting Sabin. The Guaranty Trust is altogether the most active competitor we have in the field and it is of great value to get them into the fold in this way. They have been particularly enthusiastic at Kuhn, Loeb's. They want to take up to $2,500,000. There was really quite a little competition to see who should get on the board, but as I had happened to talk with Kahn and had
armies. And there seems to be little question that German industrial and banking circles were financing the all-Russian anti-Bolshevik army in the Baltic. Obviously bankers' funds have no national flag. Footnotes: 1New York Times, June 21, 1919. 2Ibid., March 28, 1920. 3U.S. State Dept. Decimal File, 861.51/649. 4Ibid., 861.51/675 5Ibid., 861.51/656 6Ibid., 861.51/767 — a letter from J. P. Morgan to Department of State, November 11, 1919. The financing itself was a hoax (see AP report
sources of Trotsky's funds, we do know that Von Pavenstedt, the chief German espionage paymaster in the U.S., was also senior partner of Amsinck & Co. Amsinck was owned by the ever-present American International Corporation — also controlled by the J.P. Morgan firm. Further, Wall Street firms including Guaranty Trust were involved with Carranza's and Villa's wartime revolutionary activities in Mexico. We also identified documentary evidence concerning. a Wall Street syndicate's financing of