The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-01
Senator From Idaho Says
Bankers Seek to Secure
Ventures in Europe.
CoRROBORATED BY KNOX
Pennsylvanian Learns Of Pro-
posed Legislation for Cor
Z. poration to Handle It.
Special DsspafcA 10 TIE sus.

porting II because putting the league
into effect would effectually secure and
practically underwrite their financial
ventures in Europe and elsehewre
throughout the world. This charge
was made from the Senate floor to-day
by Senator Borah (Ida-).
J Senator Knox (Pa) interposed to
say that he had received the same sort
Of Information, and that he had
learned that legislation has been
drafted which contemplated the for
nation of a great corporation to ham
die the international business Of the
reconstruction era. The backing Of
the League to Enforce Peace, which is
headed by William H. Taft, was barred
during the Borah speech and cited as
one Of the proofs of his contention.
At times throughout the whole de-
bate Senator Hitchcock (Neb.), who
has assumed the Senatorial leadership
Of the pro-league faction there, sought
to answer Senator Borah on specific
points.
support From Wall Street.
I'VE who have been opposed to the
League of Nations" said Senator Borah,
ARE unanimous for making 1t a party
issue by these organizations that are
conducting the propaganda in its be-
half. and learn from its own bulletin
on the subject that this organization, the
League to Enforce Peace. gets three
fourths Of its support from Wall Street
and interests associated with Wall
Street. For the bulletin which I have
tells US that the opposition Is restricted
to small business men whose horizon is
restricted to their own front door. Three
fourths of its support comes from bust
ness men of large affairs"
Senator Hitchcock denied that the
league support came from Wall Street
and said he would put in the facts
which showed that only one name given
In the bulletin was that OF a Wall Street
man and that there was nothing what
ever to sustain the charge that three
fourths of the money came from Wall
Street.
What I said was that three-fourths
OF the support came from " all Street
and big business" retorted Mr.. Borah.
tk~Ot Gil tuc DuSlutSs IntH VINO cooperate
with Wall Street have their addresses
there. The truth is, Mr.. President, that
big business has to be Interested and to
pafticipate In this consideration and we
have the right to examine into Its mo-
lives and reasons No prominent OPP
ponent of the League OF Nations has
escaped the charge that he was narrow.
disioyal and unpatriotic.
Some time ago. speaking on this floor,
! said that blows would be given as
we'll as taken In this fight, and l ex-
poet to make good on that promise. I
Will prove that combination has been
formed for exploiting the resources of
Europe. Wall Street proposes to have
the American Government underwrite
financial and other ventures which will
be described as having for their pur-
pose the rehabilitation of European ma
Cons and peoples Our nation Is to
underwrite the mortgage and American
soldiers are to be sent to enforce its col1
lection. But they will And that the
mask of hypocrisy will be finally thrown
OF. Even the name OF an ex-President
cannot successfully be used, to protect
men engaged in selling their own coun-
try" - - '.-7'..', -
Underwriting Bill Prepared.
Senator Knox interrupted to say that
q bill had been prepared for submission
To the Senate Committee on Banking and
Currency whose object is to form
great international financing corporation
to underwrite billions in securities These
securities will be representative of mer-
chsndise that Is to be marketed In Eu-
rope In the process OF rehabilitation.
Senator Knox explained that the meas
ure sought Congressional sanction for
the entry OF the United States into this
proposed combination OF financial inter-
estS. and added:
1.-THE Senator who confirmed by in
formation on this subject only discov-
cred to me the truth OF Information of
which have been in possession for sew
eral weeks with regard to this proposed
combination. In conveying the facts
TO me he expressed the opinion that the
organizers would better leave the United
States out Of It II they expected favor
able action from Congress on their pro-
posal."
} Sentaor Knox further intimated the
opinion that the international corpora
ton to which he referred has excellent
financial reasons for wishing the United
States TO be member Of the Wilson
League OF Nations"
when this fight was in its begin
ming" resumed Senator Borah. Thomas
Lamont, a partner In the Arm OF ]. p.
Morgan & Co.. bought the New York
Evening Post and It Immediately was
enlisted in the support of the League of
Nations. An ably edited newspaper, its
propaganda in this cause was backed by
an international banker who sat as prac-
tically Americas official representative
at Versailles and was able to send a
copy Of the peace treaty to his partner.
Propa Eanda Spread over Country.
''This newspaper propaganda has been
spread all over the country. What does
Il advocate7 The surrender OF our ira
ditional foreign policy. 1t would have
us put aside the very policy under which
we grew to the power and wealth which
made II possible for us to do what we
have done in the war. A policy which
kept Europe out OF America for more
than a century and saved this continent
TO peace.
"It advocates that a combine con-
t4rolled by foreigners shall succeed to
The control OF our international rela-
lions: that our foreign affairs shall he
placed In the hands OF a body whose
overwhelming majority are aliens to U.S.
And why? When Mr.. Lamont of the
Arm of Morgan gave a copy OF the
treaty to his partner. Mr.. Dawson, he
did not say. Read this over and see IL
in your opinion 1t accords with the in
terests and traditions of America No,
he handed It to his partner and said,
Study this and see II you think II will
help this plan we are formulating TO
finance Europe That was the object OF
sending the treaty to Mr. Dawson to
determine II the treaty is SO drafted that