The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1924-11-27

The September Letter referred to
certain current expression of opinion
10 the effect that international loans and
International bankers were often re-
sponsible for wars, and in the course
of our comments said:
The United States government never has
gone to var to protect the investments OF
its citTsns In foreign countries, nor has war
ever ben made by any country that we know
OF In behalf of the investments of its peo-
pie il foreign countries; foreign loans and
foreign trade have been subjects OF disagree
menE end controversy; they are points of
contact, and wherever people come in contact
disagree ,aents are likely to arise, antagonisme
may Gc9elop, and where the antagonisms
develop along national lines they may lead
to war. Economic considerations are a very
important factor In human affairs, within
countries as well as between countries, and
are likely to be as long as men strive for
economic gains, but it is impossible to
name war OF any consequence for the col
lection OF debt
1t il safe to say, not only that no war
ever las been begun for the collection of
debt, but that no war ever has been due
to the influence Of bankers or private finan-
cial interests. The people who imagine the
contrSry have a theory that conditions are
more favorable to such interests in period
OF NEUTRALITY-SUSPICIOUS. imam III u perlOu OF
general wealth-aeeumula tion, which OF course
is fundamentally untrue.
In response to the foregoing we have
received a copy of the same with the
irst sentence of the second paragraph
underlined. accompanied by the follow
ng letter:
A. L. MEYER
62oS Cass Street
Omaha, Nebraska
9-19-24
National City Bank,
New York.
Dear Sirs:
Do you really mean to assert in the
underlined sentence of your September issue
on page 149 enclosed, that the house Of Nor
gan & Co. and the American bankers, who
the Allies, did htt d. their utmost in the
winter of 1861 to drive this country
into The war or more to the Allies, did not
do their utmost in the allied debts? Why
did U. S. Treas. McAdoo pay Morgan &
Co. out # the T.. s. Treasury almost in
s.nnIly uoen our declaration of war. what
they had sdvaacad to the Allies, thus as
Stunning that burden without security to the
T.. 81? W
II YOU have any data to contradict that
conclusion. held by many millions of people,
and which seems to be justified by much
1t might not be amiss to present it in your
next Letter.
Respectfully yours,
(Signed) A. L. MEYER.
There is no basis or warrant what
ever for the implications carried by the
inquiries of this letter.
The Anglo-Freneh fve-year loan of
$500, 100000 which was foated in this
country in October, 1915, was handled
by an organization of bankers and in
vestment houses headed by J. P. Nor
gan & Co. and comprising 1870 SUD-
scribing houses, located in all parts of
the country. These bankers, however,
we're not the only participants, for
there were sub-participants back of
them. These houses sold the bonds to
investors, this widespread organization
giving them a like distribution over the
country. This issue passed out of the
hands of the bankers at once. Bankers
who are bond distributors buy bonds as