The Elk Mountain pilot., 1920-12-16
THE WALL STREET SOVIET"

Mr.. Paul Warburg is very distin-
guished and powerful person. He
was the first chief officer of the Fed
eral reserve Bank appointed by Pres
ident Wilson, and for long time held
up the United States Senate. He is
member of a banking corporation
which is one of the half dozen banks
whose directors are interlocked and
who, as individuals, are the financial
agents of all of the great monopolies
in the United States.
Mr.. Warburg and Mr.. Thomas w.
Lamont were the special advisers of
President Wilson at Paris in the
preparation of the Treaty. including
the covenant of the League of Ma
tions. Mr.. Lamont is the chief
spokesman for the Morgan banking
interests and Mr.. Elihu Root, the in
ternational attorney for this banking
syndicate, was so closely connected
with these gentlemen that when this
group of bankers had obtained copy
of the Treaty prior to its presenta-
tion to the United States Senate, it
was Mr.. Root, who, along with Mr..
Morgan. was called upon to explain
the circumstances.
And now Mr.. Root, the attorney
for the advisers of Mr.. Wilson, be-
comes himself the adviser of Mr..
Harding who is to be Mr.. Wilson's
successor. 1t is a great thing to
change presidents, but continue = in
control the same advisers as before.
Mr. Root, Mr.. Lamont and Mr.. War
burg have all of them been European
visitors during the recent months.
Mr.. Root came home with an an
nouncement which implied that he
had fixed up matters with the Euro
pean countries for the final determi-
nation of the, position of the United
States in the League of Nations.
Mr.. Lamont returned with the an
nouncement that the consortium,
which was established before the
breaking out of the World War by
this Syndicate of American bankers,
in cooperation with the Rothchilds
of London and Paris and the special
bankers of the Kaiser of Germany,
for the purpose Of uniting all Of
these under the protection of all of
these governments to finance China,
had been re-established.
Mr.. Lamont announced that this
consortium, which was destroyed by
the coming of the World War, had
been renewed; that Germany had been
dropped out and Japan substituted in
its place. And since this announce
ment on the part of Mr.. Lamont, the
diplomatic representatives of these
governments have formally ratified
the arrangements of these bankers, in
document especially prepared and
signed by the representatives of these
governments in conference at Wash
ington, and at the same time that
this American credit was extended to
China it was contracted in America.
Mr.. Warburg reached home more
recently than the others, but imme-
diately his return was proclaimed
through the press and his discussion
of European conditions given a first
page Importance. He reports that
the new government of Germany has
provided a most effective method for
the organization of industry and
commerce. 1t has been done in such
way as to give the workers, not
only a voice, but definite authority in
the management of the industries in
sizes the fact that the same move
ment is covering the whole field of
Italian industry; that the French
Progressives are committed to it and
that the whole British Labor move
ment is demanding the adoption of
plans involving the same idea.
Mr.. Warburg reports that in Ger
many the shop committees are re-
government; that the shop commit
tees in the various manufacturing
plants involved in the production OF
any gwen commcditv are themselves
represented by delegates of their own
choice in a National Council repre-
senting that industry; and that the
councils of all these industries arc
Represented in federal body which
acts as sort of supplementary leg
islatiye body in cooperation with the
German Reichstag dts Congress) in
the administration of the affairs OF
the New German Republic.
He further indicates his conviction
that something of the sort is sure to
prevail throughout Europe and that,