The New York herald., 1922-07-03

innate of their value. No human being
could put an accurate estimate on them.
The Germans had held them for their
nuisance value. and no method of ap-
rraisal existed. Many have expired or
are about to expire. Many are quite
worthless.
"rhe Foundation was organized to be
as nearly a public institution as possi-
BILE, owned by the industries themselves
and guided by men whose names are
synonymous with character and public
service. The trustees of the common
stock. with entire voting power, have
no connection with the chemical indus
tries whatever, no interest in making
money. directly or indirectly, out of the
patents. 1t is the trustees who select
the officers.
Some of the Trustees.
Among these men are Otto t. Ban
nard. president of the New York Trust
Company; Cleveland H. Dodge, George
L. Ingraham, recently retired as a JUS
tice of the Appellate Division of the Su-
preme Court; Ralph S. Store, president
of the Detroit Trust Company. and Ben
jamin Griswold. Jr.. of Baltimore. These
gentlemen insisted that 1 accept the
presidency, a course that / was averse
TO taking. They said that my particular
service had given me a knowledge of
German intrigue unsurpassed by that of
any man in the country. and that 1t was
perfectly apparent that the Foundation
would become the target of German at
tack the moment it was launched. They
thought the president Should be one ia
miliar with German methods and the
personnel of their merely suspended
business penetration system / accepted
the presidency on condition that I might
serve without compensation along with
the other executive officers.
THE public character of the Founda-
ton has been established in several
searching Investigations by Congress. In
those inquiries the Foundation met and
destroyed a variety of false attacks and
malicious insinuations. Now, as before,
it is ready to stand and fight, ready to
show all of It's books and records, ready
to answer any questions. But 1t will not
lie down under anybody's attack, Presi-
dent or anybody else, and the country
will hum with the strife of this con-
flict. To me 1t is shocking thing to
find the President of the United States
lending himself to the German intrigue
which is aimed not only at the prosper
ity but the very safety of our country
lending himself to it or completely duped
by it, one or the other.
Aims Not Selfish.
How far removed the aims Of the
Foundation are from selfishness gain
and monopoly may be seen from the
single fact that the licensing system
used to control the one time German
patents and the licensing system for
controlling imports are great money
losses to the institution. Licenses are
issued at very small rates. the Founda-
ton aiming to encourage American in
dustry and especially to transfer medi-
cal and surgical science.
"It could hold these patents and sit
back and collect fortune both from
American manufacturers and importers
Its course is just the reverse. The
Foundation has never made a move,
has never been used except to serve
the best interests of the American
people 1t is slandered and attacked
only by such persons as those whose
minds run with the Germans.
There is. unfortunately. type OF
American extremely useful to the Ger
man agents in their scheming to regain
what they lost through the war. Per-
sons laboring and lying in the German
interest are engaging in "a particularly
despicable program. because they strike
even at the sick and diseased of America
whose welfare is affected by American
chemical industry independence.
"If such persons should succeed In
pulling the Foundation down there
would be terrible judgments for them
to meet eventually. OF Importance
though of lesser note, is the banking
situation in this matter. Attacked by
the President. license holders under the
Foundation might well have trouble
renewing their notes or obtaining loans
Their business is stabbed at from the
back An industry with sl50,00o,c0o in
vested is suddenly put in grave peril,
and by the Government of its own
country"