After the conquest of France, the Nazis imposed a regime of terror on the French people. Thousands of French workers were sent to slave labor in Germany. Hitler hurled vituperative broadsides at the Anglo-American imperialists for daring to challenge his right to dominate France and all of Europe. But for the British and American banks in France, the Nazis had only kind words and more important kind deeds. Each proved helpful to each other.
The well known newspaper columnist Drew Pearson recently disclosed some of the facts. When the American Army swept into Germany, they captured a Dr. H.J. Caesar, the Nazis' Alien Property Custodian who had charge of American banks and alien property which the Germans seized in France. Dr. Caesar was questioned by his captors and furnished, among other things, information showing how American banks collaborated with the Nazi conquerors.
The Chase Bank (J.P. Morgan and Co.) was especially favored and
protected by the Nazis because
it had been active on behalf
of Germany before the war in such matters as the German
‘standstill’; credit negotiations.
The Nazis were grateful for this aid and furnished the Paris branch of the Chase Bank with profitable business throughout the period of the occupation of France, Dr. Caesar disclosed.