The Washington times., 1930-03-28
BANKERS SEEK
j. s. IN LEAGUE
Photo by international

America was put "On Euaro"
last night against subtle propa-
ganda seeking to entangle this
nation into Europe's economical
and financial intrigues. ultimately
to force the United States into
the League Of Nations.
Representative Louis T. Nc
Fadden, chairman of the House
Banking and Currency Commit
tee, sounded the warning in q
radio address over the National
BroadcaSting System, under the
auspices of the Daughters of the
American Revolution.
McFadden revealed the vital is
sues of the battle of "NationaliSln
Versus Internationalism' now in
progress.
The latest move to involve the
United States into European en-.
tanglem nj is, he declared, is
through the Bank for Intert1a.
tional Settlements.
Dump Bonds Here
America is to be made the dump
ing ground of German Reparation
Bonds, McFadden declared. Once
this nation is enSnared in the Fl.
nancial scheme, the way to draw
the United States into the League
Court and the League of Nations
will be open, McFadden said.
"The present form of inter
natiOnaliSm has no precedent
In history. It cOntemplates
the abandonment of national
sovereign power to international
sovereign power. The struggle
is being waged in the fields
Of politics, economies and
finance.
'It is in the financial field
that the attacks Of the inter.
natiOnaliStS are more danger.
Gus. in that they are more
subtle, and their purpose, there
fore, less obvious"
McFadden branded as "insidi.
Gus" the arguments to secure
American adhesion to the League
of Nations and the League Court.
and added:
I'm my Judgment, the indie
pendence and safety of the
American people will be best
served by remaining outside
the League of Nations and the
World Court. Only thus may
questions arising between Eu.
rope and the United States
be clearly defined and settled.
even more dangerous, l
believe, than pro.League prOpa-
ganda is that which, under the
guise Of private banking trans
actions, would tie up the United
States with Europe economically
and financially"
McFadden declared that the
international banking house OF
j. p. Morgan and Company, "the
most dominant banking influence
in the world" will represent the
Bank for international Settle
mentS insofar as this country Is
to participate.
"TheSe internationally minded
men, who are attempting to
direct our participation in .n-
ternatiOnal political, economic,
and financial affairs know the
importance Of the mobilization
Of our financial resources with
the financial resources Of Eu-
rope through the Bank for In
ternatiOnal Settlements and
through the sale Of billions Of
dollars worth Of German repara-
tiOn bonds to our people here
in exchange for our gold.
"They know that these en-.
tangling alliances will even
tually dray us into the World
Court. the Bank for Interna-
tionaI Settlements, and event
ually into the League Of Ma
tiOnS.
Apparently, Federal Re-
serves participation In the bank
for international settlements Is,
through an ediCt of the State
Department, to be by and
through the firm Of J. p. Nor
gan and Company. This action
Of the State Department in for.
bidding any further partiCipa-
tiOn by the Federal Reserve
banking system in the bank for
international settlements turns
over to the Morgan firm one Of.
the most valuable franchises
which any private banking
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