South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-09-29
BATTERED WITH
ALLIES FOR LOAN
Charge Made Against Bankers
by Members of Peace
Conference.

WASHINGTON, Sept. 29-The di-
rect charge that a group of bankers
headed by members of the firm of ].
2. Morgan & Co. bartered with Great
Britain, France and Russia to negoti-
ate a billion dollar loan in return for
war contracts netting them 100000
600 profit. is made by the executive
committee of the National Industrial
Peace conference in a report Tuesday.
The federal reserve board Is charged
with acquescing in the transaction.
As means of defeating the loan
depositors are urged by the commit
tee to withdraw their money from
national banks and redepOsit it in
state banks.
Defeat of the loan is declared 10 be
imperative, because, the committee
report insists. the European govern
ments by piling up war Indebtedness,
face bankruptcy and bankruptcy
threatens the institutions in the fed
eraI reserve systems and practically
their entire loaning sources are tied
Mp in loans to European governments.
Chosen i'm July.
The executive committee OF which
former Congressman Robert Fowler
OF Illinois is chairman was appointed
at the convention of the National In
dustrial Peace conference which was
held in Washington, July Il last. The
representatives and delegates of the
labor and agricultural societies repre-
sented 100000 organized farmers
and 100000 members OF labor or
CARNATIONS, the Fowler committee re-
port declares.
Responsibility for keeping the war
alive is placed on "OuT lords of the
great criminal trusts" who are fur
nishing money and war supplies TO the
belligerents.
The committee has absolutely
convincing proof the report says.
that a group OF men now in control
of the great trusts ConspiracieS head
ed by mem bers Of the firm of ]. =.
Morgan q Co. who are and have been
for years past robbing the people OF
this country of several millions of dol
lars a day are in possession Of con-
tracts for war materials and supplies
of various kinds from the govern
ments of Great Britain. France and
Russia. on a scale So transcendantly
enormous as 10 guarantee TO the con-
tract mOngeTS a profit OF more than
S40O0OOOOO and that in return for
these contracts and the profits flowing
from them. the masters of the great
trusts cOnspiraCies have entered into
unQeEIaklnES 10 0Dlaln lodnS Ol ulontA
from the banks OF the federal reserve
system for account OF Great Britain
and her allies To the amount of at
least a billion and half dollars"
Have $4,000 900.
The financial interests have already
extracted from the banks in the fed
eral reserve system more than So
coo. goo. the report alleges. and are
now making sedulous efforts TO Sc
cure Immediately at least an addi-
tional amount. The federal reserve
board is charged with being a party
10 the plan in the report which says.
The federal reserve board not
only refuses 10 put stop 10 these
transactions. but exhibits a willing
ness to allow the entire money with
credit resources of the banks in the
federal reserve system TO be used
without limit in furnishing money for
use in buying munitions and supplies
by which the European war is fed
and kept alive.
Morgan dominance Of the federal