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Old October 2nd, 2013 #70
Henry.
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Originally Posted by Hadding View Post
I would like to know a solid source for this claim. I've heard it many times but apparently when Father Coughlin was called on it in 1938 he had no source to show.
The gold story is a myth. No gold was ever given to Trotsky to take back to Russia. If gold had been given then the British would have found it when they took him into custody once his ship had docked in Canada.

The bankers' money was channelled through the American Red Cross Mission to Russia. The Utopianist 'Colonel' Raymond Robins was their lead agent and he dealt directly with Lenin, Trotsky et al.

Raymond Robins (second from left I think) standing near the US flag flown by the American Red Cross mission in Russia


The bank used was the National City Bank where an account for assisting the Bolsheviks by issuing credits was opened by the gentile Morgan who also took a major interest in Russia.

Jacob Schiff was for 16 years a director of National City Bank but suddenly resigned from the board in July 1914, citing 'limitations' imposed on him by the recently introduced Federal Reserve Bank legislation.

Before the war, Schiff had organised an issue of $25,000,000 of Austrian Treasury Notes via Kuhn, Loeb and Co, and the aforementioned National City Bank. Of these Notes, $12,500,000 were due to mature and pay out on the 1st July, 1914 - the same day that Schiff rushed off his letter of resignation - the remaining Notes fell due in January 1915.

For Schiff there was serious concern that Austria would not meet it's commitments and so Max Warburg went from Hamburg to Vienna to oversee arrangements. Later Schiff wrote to Warburg:
I must say frankly that we here feel fortunate, not only because we had large holdings ourselves, but even more because the Notes had been placed through us.
Below is Schiff's letter of resignation. I've bolded the part where Schiff mentions how, due to recent change in law, the bank would soon have opportunities to ''branch out into foreign countries''.
July 1 , 1914.

Dear Mr. Vanderlip:

Owing to what appear to be limitations in the Federal Reserve Bank legislation, it is necessary that I resign as a director of the National City Bank. It hardly needs any special assurance on my part that I do so with a feeling of keen regret at being compelled to sever associations which at all times have been a source of much satisfaction and pleasure to me.

Sixteen years ago, when I became a member of the board of the National City Bank, the latter was not so important a concern as it is today, and it is my concern that the great and honourable position that the National City Bank has acquired in the financial and commercial life of the United States is, to no small degree, owing to the prudent and efficient management which the bank has enjoyed under Mr. James Stillman's, and in later years, under your own guidance. Particularly do I regret that it has become necessary that I leave the board just at a time when, under recent legislation, an opportunity is now given to the bank - of which I am glad to note it is promptly availing itself - to branch out into foreign countries, and thus become a further and still more important factor for the promotion of financial and commercial interests of this nation.

May I ask you to present my resignation to the board at the next meeting, and wishing you personally, as well as your associates in the management of the bank, every further success.

Yours most faithfully,

Jacob H. Schiff.
This move allowed Schiff to withdraw into the background but he remained a major shareholder in the National City Bank and enjoyed continuing influence in its operations as a leader of the inter-banking group which was fronted by J.P. (Jack) Morgan, who himself, was the largest shareholder in the National City Bank.

Schiff had for years been the treasurer of the American Red Cross and was the greatest donor to that organisation. This is an important fact that Antony Sutton completely ignores in his book on Wall St and the Bolsheviks; wherein he dismisses Schiff's involvement in both the later revolution and its aftermath. Schiff had certainly involved himself in attempting to destroy the Tsar and he often met in private with Russian revolutionaries at the Henry Street Settlement, which he had purchased for Lillian Wald who on these occasions would cook dinner and act as their host.

Charles_Richard_Crane Charles_Richard_Crane
who knew Schiff and was a close friend of Lillian Wald mentioned in two letters (dated 5 Feb, 1921 and 14 Dec, 1934) that Schiff met Trotsky at Wald's Settlement the night before he left New York in March 1917, and that Schiff gave him $50,000. Crane also happened to take the same ship from New York as Trotsky and was witness to Trotsky's arrest when the ship reached Canada.

Crane referred to money from Schiff to help fund the return of Trotsky and his followers but not a huge injection of gold as some people claim.

He wrote:
[Lillian Wald] played a very important role in bringing about the Russian Revolution.Trotsky was always in touch with her and followed her orders. She always could get any amount of money from the Schiff-Warburg family, and the night before Trotsky sailed for Russia, he and Jacob Schiff had a secret meeting at Miss Wald's, and Schiff turned over fifty thousand dollars to Trotsky to use shepherding his flock to Russia
It's often overlooked that Trotsky had been regarded as a Menshevik (at least for a time) but not a Bolshevik, and if Kerensky, who demanded his release and return to Russia, thought that he was still of that persuasion, then (assuming they did meet) why would Schiff have been any the wiser as to Trotsky's plans for a partnership in the business of Lenin & Co?


Sources: Jacob H. Schiff: His Life and Letters 1928, volumes 1 and 2.
.............Charles R. Crane's Crusade for the Arabs, 1919-39, F. W. Brecher, Middle Eastern Studies, Vol. 24, No. 1 (Jan., 1988), pp. 42-55

Last edited by Henry.; October 2nd, 2013 at 09:29 PM.