Max D. Steuer Issues New Statement; Asks J.D.C. for Accounting on Its Funds
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Max D. Steuer Issues New Statement; Asks J.D.C. for Accounting on Its Funds

Max D. Steuer issued another statement in which he demands that the Joint Distribution Committee make a public accounting of its collections and distributins.

“Where in that statement is the evidence to be found that a substantial part of the moneys that were transmitted were not diverted?” Mr. Steuer asks in his statement. “Where in that statement is the proof to be found that the whole of the money was devoted to the purposes for which it was sent? On the contrary, in my opinion, the inference from it may be drawn that even those who prepared the statement had knowledge or suspected that in the manipulation of the exchange a substantial part of the money that was sent over disappeared.

“Otherwise, what is the purpose of calling attention to the fact that in 1921, in the forepart of the year, there were 800 Polish marks to the dollar, whereas in 1923, in the latter part of that year, there were 250,000 Polish marks to the dollar?

“If by that it is meant to convey that by reason of this fluctuation in the exchange, for which the members of this committee are in no wise responsible, bankers or others in these foreign countries were placed in a position such that by a manipulation of the exchange they were enabled lawfully. or unlawfully, to enrich themselves at the expense of the needy, then let that fact be stated in unambignous terms. Not only should the proof not be suppressed, but the facts should be given the widest publicity.

“I observe that in the statement the committee asserts it has no apology to make. None was asked so far as I know. and none expected. I have no apology to offer to the committee nor to any one else. I withdraw not one word of what I have said.

“When a trustee claims to have expended moneys consisting of trust funds he must account. Every donor is entitled not merely to request but to demand an accounting. I was a donor. I request an accounting.” Mr. Steuer declared in his statement.

“The assertion made by me” he continued, “that I was informed that 40 per cent of the money transmitted from the United States for charitable purposes to foreign countries had been diverted by European bankers by manipulation of the exchange was not hearsay. That is a statement of fact upon personal knowledge. which I could testify to in any court of law in any land.”

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