J. D. B. News Letter

The renewed discussion of the German reparations question and the plan under advisement for the establishment of an international bank as formulated by the American experts at the Paris session to handle the financial problems of the reparations payments, provided the German chauvinists with an opportunity to renew their anti-Jewish agitation.

The “Protocols” myth has been revived by the “Deutsche Adelsblatt,” the organ of the old German nobility. the Junkers whose domination was overthrown by the establishment of the German Republic. The paper denounces the plan as a plot on the part of the “Elders of Zion” to set up a financial instrument for carrying further “the insidious campaign of International Jewry” against the German Fatherland.

The Junkers have always blamed the Jews for Germany’s defeat in the Great War and for the Revolution, and the setting up of the Republic. All the revolutionary leaders of Germany have been credited to the Jews, and some Jew-baiters have gone so far as to declare that ex-Kaiser Wilhelm was not only influenced by the Jews, but is himself of Jewish descent, and for this reason did not defend Germany as loyally as he should have done. He conspired against the Hohenzollern dynasty and undermined it. He destroyed his own throne because he was serving the secret Jewish world organization. The “300 Elders of Zion” are in Germany referred to as “the 300 Rathenaus.” who brought about the whole Great War in order that they should be able to rule the world. Among those who have put forward this remarkable allegation is the famous German war lord, Field Marshal von der Goltz, who, in an appeal to President von Hindenburg to exterminate the Jews and save Germany, wrote: That the 300 Rathenaus should retain their hegemony, the whole World War had to be fought and millions of young Nordics in England and America. too, had to lay down their lives. And today the 300 rule the world. Our enemies are the Jews and only the Jews.

There has also been a special German version of the “Elders of Zion” issued by one “Hermann the German,” alleging that there was a secret pact signed between 300 Jewish financiers, including Rathenau, and Lloyd George, Wilson, Lenin, Clemenceau and others, providing for the disruption of Germany and claiming that it was as part of this plot that the 30 Bolshevist leaders were allowed to pass through Germany in order to establish Bolshevism in Russia.

The plan for the organization of a new Bank for International Payments, (Continued on Page 4)

which is being put forward by the Committee of Experts now assembled in Paris to decide the question of Germany’s real capacity to pay, is outlined in an explanatory communique issued by the Committee, which states that it will be necessary gradually to do away with a great part of the temporary war-time machinery that was created to collect reparations and that new machinery may be required to handle the great new international movements of funds created by the reparations and war debts. This would be the primary business of the proposed Interanational Bank, which would act as Trustee, receiving from Germany such annuities as may be arranged and dispersing them among the creditor nations. It would also cooperate with and act as an essential intermediary between all the interested governments and the issuing bankers in the marketing of such bonds as might be created for the commercialization of German annuities.

Owen D. Young is the chairman of the Committee of Experts. Sir Josiah Stamp is the Chief British Delegate and Dr. Schacht, the head of the German State Bank, is the Chief German Delegate. Mr. Parker Gilbert, the Agent General for Reparations Payments, has been attending the meetings of the Committee, and Mr. Winston Churchill has been in Paris conferring with the British delegation. None of the Principal delegates on the Committee of Experts are Jews. Dr. Karl Melchior, a partner in the banking firm of Max Warburg, was to have been one of the two German principal delegates, but the German industrialists objected to having another banker act in addition to Dr. Schacht, and he was replaced by Dr. Alfred Voegler, a steel manufacturer and a prominent German Nationalist. Dr. Melchior is attending the meetings as a deputy delegate.