Detroit evening times. (Detroit, Mich) 1921-1958, 1941-02-04
Nazis Getting
u. S. HoIdings
By Robbery
Bleed Conquered Nations
Of Their Gold, Trode
BY PAUL MALLON

W NaziS are bleeding white
their conquered foes. The in
duSirlal life-Wealth of Holland.
France, Belgium. Norway is be-
me drained into IIitlers Golfers
drop by drop. in such a way that
Germany Will own and control
the major businesses OF these
countries no matter what kind
Of a peace settlement is eVantu-
ally made. 1t amounts 10 eco
monte enSlaVement.
News of their doings has fill
tered into official channels here
mainly because the Germans
IN their buying OF industries with
nothing except gun-are ac-'
qulring holdings in our own big
industries here General Motors,
United States Steel, Radio.
TIVE Nazi process is neat.
They took over control of
all banks in occupied areas,
forced bank officers to open all
safety deposit boxes and vaults
IN their presence. When they
see local stocks of value. or such
rich prizes as American securi-
ties or gold, they require the
owners to sell these to them
The selling process is even
neater. The Germans pay the
owner of the valuables in the
local currency of the occupied
country francs in France,
guilderS in Holland. This cur
ronCy is obtained mainly by
lcvNing upon the occupied cOun-
try tt1T'- cost OF 0CCUUdt1UT1- f1r1CS,
assessments. whatever sums the
Germans say are necessary
The conquered nations have no
means of raising such tribute 81
they lust print more money.
They are being forced into in
flation.
The polite illnesses of this form
of robbery may sound compll-
Gated The results could not be
simpler. The NaziS buy every
thing they want without pay&
anything for il. The cos t is
footed by the subject nations
which squeeze themselves into
inilationary bankruptcy to raise
the money so they may be
robbed
THE work of this Nazi wrack
L upon Europe can be observed
on prices on the bourscS In AM
Sterdam and Paris. a continuous
rise in the value Of securities
has been noticeable since June.
Prices have more than doubled
in growing realization of the
initiation that is being forced
upon them
But food and commodity prices
in The occupied areas have not
risen. The NaziS control the
cost of these staples. They only
let the stock markets 90.
The system is not new II was
worked first in Czecho-Slovakla
and Poland before its advept
into western Europe. and toSa
limited extent in Germany itself
before that Germans were re-
ouired to register their stock
holdings early under Hitler In
many cases. holdings of Jews
were subsequently confiScated
because the owners were absent
or had fled the country
IN CASES where a particular
i business is privately owned and
has no public issue OF common
stock. the Nazis look up the
owner and require him to sell at
a fixed price
The extent of these operations
in western Europe up 10 the end
of November is evident IN the
fact that the subject nations had
then paid since June over five
billions IN rcichsmarkS as cost OF
five months of occupation.
Iitlcrs shotgun buying Of
American stocks. a. a Sldelne of
the process. viii cause no heavy
worry here. He can never ac-
quirC substantial ownership Of
American concerns. and could
not assert il If he did That Is
not what he wants. Tho Securi-
ties are valuable 10 hun only be-
cause they give HIM dollar eX-
change. the wherewithal 10 buy
in the United States or else
where around the globe.
THERE are indications he has
L been using these dollars for
purchases in Latin America,
through Russia Latin trade
figures are uncommunicatiVe.
but IL is known fhe Russians
have been purchasing in unusual
quantities there. Deals for cop
per from Mexico and Chile. and
mercury from Mexico, have had
a suspicious appearance.
But these are no more SuS-
piciouS than Russian purchases
IN this country of oil drilling
equipment with which 10 pro-
duce oil that could be used by
the Nazis under their Russian
trade agreement.
Also Russia has been buying
quantities OF metal working ma
Chincry in the United States.
The lifting Of the moral en-
hargo against Russia by this
government January y could
permit the Reds 10 acquire our
planes and aviation gasoline for