Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-06-13
MONEY KINGS SAY
AMERICANS MUST
REBUILD EUROPE
"Treaty Leak" Investigation
a Flare in the Pan - No
Criticism for Wilson,
Leading Finanicers Testify

WASHINGTON, June 11.-Chair-
man Lodge, Senator Hitchcock and
ether committee members said this
afternoon it was doubtful whether
any further treaty investigati ton
would be made. Mr.. Lodge received
a message from Paul NJ. warburg.
in which Mr.. warburg was under
stood to have disciaimed any Enowl-
edge Of any copies Of the treaty in
New York.
The resources OF the United
States must DO pooled and poured
into Europe to rebuild and restore
it, and the United States govern
mont must cooperate with Ameri-
can bankers and European govern
ments in mobilizing Americas dol.
lars to help the old world.
bankers told the senate foreign re.
lations committee, is why Wall
street has been interested in the
peace treaty and the League Of Ma
lions.
Frank A. Vanderlip and Henry p.
From these witnesses and from
Elihu Root the committee drew the
following statements in it's investiga
ton of the "leak" whereby the
York men while 1t was denied to the
senate.
Mr.. Root: That he got copy of
the treaty two weeks ago from Mr.
DAWSON; that he felt he has per-.
feet right to 1t because 1t has been
made public by Germany and there
| fore, was public property" ..r
Mr.. DAWSON: That he got his
copy on May from Thomas w
Lamont, partner in Morgan & Co.
and expert adviser to the American
mission in Paris. That his primary
interest in it was as head of the
| international League Of Red Cross
societies, but that he also was/
deeply interested in it as an interna-
! tional banker.
That the United States must CO.
ordinate its money resources to re-
store Europe.
Mr.. Morgan: That American mon
ey must be poured into Europe until
normal production has been restored
there, thus protecting and guaran-
tee1ng European market for Amer
lean goods.
Mr.. Vanderlip: That the govern
| ment should sanction and aid q con-
sortium of American banks to finance
the old world, all except Russia.
point that the United States must
/ commit itself. financially at least. to
| guaranteeing Europe's welfare for
years to come. Both Mr.. Morgan and
Mr.. Vanderlip denied having seen
tn the treaty. vi but but acknowledged the
clauses. They repeatedly stated to
| the committee that it is vital" for
| the United States to take an interest
In European affairs, though Mr.. Wan,
not believe the United States .shoud
guarantee the territory or independ
ence Of foreign nations.
Mr.. Vanderlip caused a sensation
when he said there was strong sen
timent in English and French cir.
Giles that the United States ought
never to expect repayment fror
| those countries of the billions 1oan6
them. That money, Mr.. Vanderli
! said, Is regarded in those countrit
as part of Americas fair share CT
the wars burden. because of thi
country's late entrance into the war.
He himself did not, however, advo
No Criticism for Wilson
Former Senator Elihu Root, o.
testified that it was he who showed
3. copy of the peace treaty to Sen.
| ator Lodge
J. P. Morgan testified he had never
| seen a cory Of the treaty and so dill
Frank A. Vanderbilt. retiring presi
dent of the National City Bank. Mr.
| Dawson testified he has shown ii
to no one but Mr.. Root.
During an hours testimony in
in the witness chair. Mr.. Root said
he thought President Wilson was
within his constitutional rights in
not sending the treaty to the sen
ate but thought It perfectly 1egiti-
mate for the senate to ask for it
after 1t had been published by the
German government. He gave It as
| his opinion that the president was
within his rights in not consulting
the senate more freely on the nego-
| tiations, but thought It would have
! facilitated a solution had that been
| done.
Mr. Root saw nothing improper in
Mr.. Dawson having copy Of the
| treaty.
At the conclusion Of Mr.. Wander
| lips testimony, the committee end
ed the hearing for the day and went
| into executive session.
Chairman Lodge, at the opening
Of the hearing, read telegram from
Jacob Schif. saying he knew "abso-
lutely nothing directly or indirectly"
regarding the treaty. and then called
| Mr.. Root to witness chair. explain
ing that he appeared voluntarily and
had requested to be heard.