New-York tribune., 1918-11-07
Says German lndustr;,.
Here Should Foot Bin.
for outrages
$500, 900, 900 Worth
OF Property Seized
Federal Custodian u,,n
Americanizasion Of All
Alien Business

The insidious growth of Germs.
owned industries and German hp,h;s
interests in the United States ws. :
scribed last night by A. Mitchell p,,~
er, the Alien Property Custodian i q
address at the dinner OF the ousy,.., =
Club in the rooms of the Netrnno,s.s
Club.
Mr.. Palmer explained that il h. w..
allowed to carry out his plans be vosn
use the proceeds from the All. :,
seized German industries in the fs 1Is,.ss y
States to recompense American. 80 -
losses suffered through German ~. ~
RACES during the war. sa''
Il earnestly hope" he sni6 s4h..
will be given the power Co uss ~ ~.
money TO pay just claims of Amsr;s.ss s
citizens against the German govern
ment, due to its Illegal warfare. Vss
should Americans have to wais 4,
years for the payment of these claim
when so much enemy money Ia asrl
able to pay them at once?1
Not only the attempts .,hich c.x
many had made to dominate Amsr;s
through peaceful means. but aIso n.
measures which are now ps.nr ,at,,
to free American industry from a.
taint of Gexmanism were described 4,
Mr.. Palmer.
Asks Aid of Banks
II want the banks of this eountyrs
Mr. Palmer told his audience. MAIN,
members of that profession. ato heln
me crush the straMgle hold which Ger
many, through it's bankers and agents
has laid on most OF the essential ;n'
dustries of this country. want "a
Americanize every Germar-owned n.
dustry in this country. | want 10 s.,
every factory, every workshop anS
every manufacturing plant that i,
enemy-owned placed in the hands os
loo per cent Americans for all time
The Americanization of Germsn-owned
industries in this country is big task
and 70 be successful | must have ths
hearty and patriotic cooperation Of Ii.
bankers and business men Of this cous.
try.
"In the next few weeks we will sell
approximately S200.000.0 .000 worth d
enemy-oWned concerns in this countr,
RS PNtliS Au(IlOji.
These sales offer sn excellent op
portunity for the bankers Of Amerts
to demonstrate their hearty patriol
ism in no uncertain manner. Ths
have aided our country nobly in rsg
ing funds to finance the war. Tsy
can. and should, do more by heh;s
to Americanize the great Gclna,
owned industries in this country +
feel that ! can count on their b.
operation in this great task Of AnY
canization.
At present, Mr.. Palmer said. he sss
custodian for about $500 0000Ce wcf..
Of alien property. He hoped, he added
soon to pass the billion mark in cor
iscations.
Concerning the menace of Gern,l
banks he said:
"a recital of the operations Of IL,
big German banks in other countfis
would be long story. It Is not alto
gether the well known system o.
branch banking openly revealed as VI
have it. 1t is rather the tradi.ions
German system of insidIous encroaeh
mcnts through concealed branch bsnk
ing-that is, through establishment,
of independent appearance, but direct
ed by delegates from Berlin. In othei
words, it is the same network Of bid
den connections which characterips
their large industrial organizationa
such as the Metallen Geselschaft
Gains Control of Banks
"For instance, in Buenos Ayres ihss
Is the Banco Aleman Transatlanfss
with more than twenty branches
Argentina. all directed by the Deuteh
Bank. Then, too, there is the bsla
Commercials Ttaliana in Milan, form@
by cooperation of five of the big GsF
man banks. Italian publicists have e.
planned how it sapped, little by HUE
all Of the resources of the eounusI
financial, industrial, commercial ess
even political. The history OF hs
Orient Bank is TO the same etfeet !,
"In short, the German bank Is foune
everywhere. a spiders web that spfsso
over the financial world, and il Is suls,
as plain as can be that the etecs y
this is the draining of capital toxsss, toxsa,
Germany. Gradual gaining OF conu0'
over American corporations Is oniy =,
other one Of those methods eEpio!v'
by German banks to extend the doma'
ion of German capital and 'ndustfy !. !.
this country. 1t is challenge y, =
American bankers. and herein also ~
their opportunity. These Amenn.s y
corporations should be restored " v
American ownership, and the conna.
must perforce look TO its banken =
furnish the means to bring this aD0uA