Holocaust-Era Assets

Trade With the Third Reich

1. Aalders, Gerard and Cees Wiebes. The art of cloaking ownership: the secret collaboration and protection of the German war industry by the neutrals: the case of Sweden. Amsterdam: Amsterdam University Press and the Netherlands State Institute for War Documentation, 1996. v, 210 pp.
Note: The authors deal with the activities of Swedish businessmen, representing "neutral" banks and corporations, who cooperated with their counterparts in Nazi-Germany; specifically, there is a focus on the Wallenberg family and their Stockholm Enskilda Bank. Cloaking, or hiding the true Nazi business ownership from Allies is noted, as is the way neutral banks, including Enskilda, helped to dispose of assets looted from occupied territory or Jews.

2. Aalders, Gerard and Cees Wiebes. "Stockholms Enskilda Bank, German Bosch and IG Farben: a short history of cloaking". Scandinavian Economic History Review 33, no.1(1985): 25-50.
Note: This article represents the authors' early research into the cloaking, or the hiding of Nazi business ownership from Allies, performed by neutral countries.

3. Aarons, Mark and John Loftus. Unholy trinity: the Vatican, the Nazis, and the Swiss banks. Revised ed. New York: St. Martin's Griffin, 1998. xviii, 392 pp.
Note: This book has caused considerable controversy since it first appeared in 1991 as Ratlines; based on British codebreaking of Swiss bank messages, it tells how western money and stolen Nazi money was laundered through Switzerland and then out through the Vatican Bank, the one bank that could not be audited, to South America and back to Germany. The paradoxical role of the Dulles brothers as members of the US intelligence community with connections to German business leaders and the Vatican is detailed. The authors, reporting on the Vatican's Nazi-smuggling network at the end of the war that sent fugitives mostly to Argentina where they were welcomed by the Perons, conclude that the smuggling venture was primarily for the financial interests of non-German investors, including the Vatican.

4. Alvarez, David. "No immunity: signals intelligence and the European neutrals, 1939-1945". Intelligence and National Security 12, no.2(April 1977): 22-43.
Note: U.S. surveillance of neutrals during World War II was minimal until 1942 when the Signal Intelligence Service significantly expanded its codebreaking capabilities. In this article, the author discusses the surveillance of neutral countries including Switzerland; however, American intelligence concluded that Swiss communications were disappointing other than giving evidence that goods were transhipped to the Axis countries.

5. Bauer, Yehuda. Jews for sale? The negotiations between Nazis and Jews 1933-1945. Paris: Liania Levi, 1996. 306 pp.
Note: This book tells of the many attempts to negotiate with the Nazis for the release of Jews in exchange for money, goods, or political benefits. Before the war, the Nazis were willing to permit total emigration of Jews from Germany. During the war, Himmler tried to keep open options for a separate peace with Western powers by using first property and then Jewish lives as negotiating tools.
Shelved in the Library at DS135.G3315 B38 1994.

6. Berggren, Henrik. "Suppressing the memory of recent events". DN: Dagens Nyheter (Sweden)(October 21, 1997).
Note: Sweden was a rich post-war country partly due to its wartime actions. In this interview, author-journalist, Maria-Pia Bothius, tells of transit shipments of German troops through Sweden to Norway and Finland, iron ore exports to Germany, Swedish censorship, and other examples showing that Swedish neutrality amounted to support for the Germans/.
Filed in Library at B8.

7. Bloomfield, Douglas M. "Switzerland: Hitler's most valuable ally". Penthouse 28, no.10(June 1997): 38-40, 45-48, 142. (Filed in the library at B5).
Note: The investigative reporter asserts that documents show that Switzerland provided Germany with a number of services: money laundering, raw materials, munitions, high-tech instruments, military intelligence, fencing of valuables, securities exchange and a safe haven for investments.

8. Borer, Thomas G. "Distortion: guilt by association: a report picks a few deplorable but unrepresentative aspects of wartime activity to impugn an entire nation". Los Angeles Times(June 17, 1998).
Note: Borer is critical of the Schom report on Nazi and pro-Nazi groups in Switzerland, 1930-1945, stating that it employs disturbing guilt-by-association tactics to make an untenable case.
Filed in Library at H23.
Online: http://www.wiesenthal.com/itn/opedlatimes61798b.html.

9. Borkin, Joseph. The crime and punishment of I.G. Farben. New York: Barnes and Noble, 1997. xi, 250 pp.
Note: A number of German chemical companies joined together during World War I; in 1925 these companies merged into a single corporation known as I.G. Farben. The corporation lined up with Hitler when he became chancellor, and although I.G.'s head Carl Bosch, a vocal anti-Nazi, pushed the industrial need for Jewish scientists before his death in 1940, I.G. led the industrial preparation for war. During the war, I.G.'s industrial complex built at Auschwitz, to exploit the supply of death camp labor for the production of synthethic rubber and oil, was so enormous that the complex used as much electricity as the city of Berlin. I.G. also made money from the sale of Zyklon B used in the gas chambers.

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10. Borkin, Joseph and Charles A. Welsh. Germany's master plan: the story of industrial offensive. New York: Duell, Sloan and Pearce, 1943. 339 pp.
Note: Through international cartels Germany was able to build up its own industrial production while restricting that of the Allies. Some of these cartels had representatives in the Allied countries and were able to continue trading during the war.

11. British policy towards enemy property during and after the Second World War. History Notes No. 13. London: Foreign & Commonwealth Office, Historians in Library and Records Department, April 1998. 144 pp.
Note: This report concludes that the reunification of Germany in 1989 and the collapse of the Soviet Union and Warsaw Pact changed the face of Europe in a way that those responsible for administering enemy property policy during and after the Second World War could never have anticipated. Great Britain's recognition of the independence of the Baltic States in 1991 reopened the question of British use of former Baltic Central Banks' gold reserves leading to the transfer in 1992-1993 to each Baltic State gold equal to that deposited with the Bank of England in 1940. Individual victims seeking property they had held in the UK before the war can find in this report the policies and machinery for the seizure and release of property.

12. Burrin, Philippe. "Accommodations. Part II". In France under the Germans: collaboration and compromise, 175-358. New York: New Press, 1996.
Note: Part II of Burrin's book deals with the compromises the French people made to meet the occupying power and its policies. Trade accommodations made by business leaders and captains of industry are discussed in separate chapters. Banking is covered in a chapter entitled "Money manipulators". Two chapters devoted to Parisian cultural life do not discuss art issues.

13. Bütler, Hugo. "Schwizer Vergangenheit auf dem Prüfstand (The Swiss past on trial)_". In Der Zweite Weltkrieg und die Schweiz (The Second World War and the Swiss), 7-14. Zurich: Neue Zürcher Zeitung, 1997.
Note: The ongoing debate about Switzerland's regarding its relations with the Third Reich during WWII and its treatment of Nazi victims after WWII reached a new level of intensity with the Eizenstat report.

14. Carlgren, W. M. "Neutrality and the fortunes of war: Sweden's relations with Germany and the Western Powers". In Swedish foreign policy during the Second World War, 114-168. New York: St. Martin's Press, 1977.
Note: To survive as an independent nation surrounded by Nazi military power, Sweden had to make concessions first to the Axis and then to the Allies that strained her neutral status.

15. Castelmur, Linus von. The Washington Agreement of 1946 and relations between Switzerland and the Allies after the Second World War. n.p.: 7 pp.
Note: Only with the Washington Agreement was Switzerland able to normalize its relations with the Allies. The Agreement called Swiss funds to be used for the reconstruction of Europe.
Filed in Library at C12.

16. Castelmur, Linus von. Financial relations between Switzerland and the Allies, 1945-1952: the Washington Agreement (WA) of 25 May 1946 historical setting, content, partial implementation and final settlement. n.p.: 8 pp.
Note: The purpose of this note is to recall some important historical facts concerning the historical setting, content, partial implementation, and final settlement of the Washington Agreement of 25 May 1946.
Filed in Library at C13.
Online: http://www.swissembassy.org.uk/news/washagr.htm.

17. Dobbs, Michael. "Ford and GM scrutinized for alleged Nazi collaboration: firms deny researchers' claims on aiding German war effort". Washington Post(November 30, 1998): A1.
Note: Ford Motor Co. has hired researchers and historians, as well as lawyers, to defend a civil case brought against them on behalf of a young Russian woman forced from her home to work at the Ford plant at Cologne where she lived in a labor camp.
Filed in Library at D3.

18. Documents pertaining to foreign funds control. Washington: Treasury Department, March 30, 1943.
Note: This volume includes: a compilation of EOs, Regulations, Public Circulars, Rulings and Licenses relating to transactions in foreign exchange and foreign-owned property; reporting of all foreign-owned property; a presidential proclamation authorizing a list of certain blocked nationals; and, documents relating to the Trading with the Enemy Act and the Alien Property Custodian.
Shelved in the library at T65.2F76 943.

19. Domke, Martin. The control of alien property. New York: Central Books, 1947. viii, 334 pp. (Supplement to Trading with the enemy, 1943).

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20. Domke, Martin. Trading with the enemy in World War II. New York: Central Books, 1943. xv, 640 pp.
Note: This book's text on trading with the enemy in World War II is 381-pages long, the appendices of statutes, regulations and cases make up the other 259 pages.

21. DuBois, Josiah E. The Devil's chemists: 24 conspirators of the international Farben cartel who manufacture wars. Boston: Beacon Press, 1952. 374 pp.
Note: The Nuremberg trial of industrial war criminals held by the Americans in May 1947, ended in May 1948. Twenty-four I.G. executives were indicted and charged with five counts including "slavery and mass murder". Although the court did convict the defendants most directly involved in the Aushwitz labor camp, Josiah E. DuBois, chief of the prosecution staff for the I.G. case, vowed to write a book about the Farben cartel when the court passed down sentences "light enough to please a chicken thief".

22. Eisenstadt, Merry Madway. "High-tech Holocaust". Washington Jewish Week 34, no.38(September 17, 1998): 1, 22-25.
Note: This account of IBM's German subsidiary, DEHOMAG, wich leased its equipment to the government for census-type statistics collection, emphasizes the role of data-processing equipment in the Nazi bureaucracy.
Filed in Library at E1.

23. Eizenstat, Stuart E. Testimony: on the U.S. Government supplementary report on Nazi assets. Washington: State Department, 1998. 5 pp. (Testimony for Under Secretary of State Eizenstat for the House Banking Committee on the U.S. Government supplementary report on Nazi assets, June 4, 1998).
Note: Eizenstat notes that the latest report is a follow-up to the first report which focuses on the uses to which the looted gold was put - how it enabled the Nazis to purchase critical war supplies from neutral countries.
Filed in Library at E3.

24. "Foreign funds control". In Annual report of the Secretary of the Treasury on the State of the Finances for the Fiscal Year ended June 30, 1942, 56-57. Washington: GPO, 1943.
Note: During 1940 and 1941, when the US froze all Axis assets in this country, stopped trade with the Axis countries, and began to blacklist fascist fronts in South America, the efforts of the Foreign Funds Contol were to protect the American assets of invaded peoples. In 1942, the Federal Funds Control regulated assets of $8.6 billions owned or controlled by nationals of blocked countries and was ready to move into a program of aggressive economic attack. A census of foreign-owned property was taken, steps were taken to guard against a possible invasion of Hawaii, steps were taken to evacuate Japanese residents from the West Coast, and sanctions were applied to curb cloaking and other abuses.
Filed in Library at T11.

25. "Foreign funds control". In Annual report of the Secretary of the Treasury on the State of the Finances for the Fiscal Year ended June 30, 1941, 66-67. Washington: GPO, 1942.
Note: The Foreign Funds Control was established in 1940 to administer Executive Order 8389 which prohibited transactions involving certain foreign interests.
Filed in the Library at T10.

26. "Foreign funds control activities". In Annual report of the Secretary of the Treasury on the State of the Finances for the Fiscal Year ended June 30, 1942, 125-127. Washington: GPO, 1943.
Note: During 1943, the Foreign Funds Control led the economic attack upon the Axis in an effort to weaken the economic strength of certain foreign interests by destroying their ability to obtain resources and finance their operations throughout the world. Foreign Funds Control pursued the following programs: preventing the enemy from using assets in this country under the enemy's control; preventing the enemy from benefiting from the billions looted outside the US through foreign exchange and black market operators in neutral countries; stopping trade and communication with the enemy; directing the weapons of foreign exchange toward winning the war; and, assisting the armed forces with financial, economic, and property controls in areas they liberated.
Filed in the Library at T12.

27. Fritz, Martin. "Swedish iron ore and German steel, 1939-1940". Scandinavian Economic History Review 21, no.2(1985): 133-144.

28. Fritz, Martin. "Swedish ball-bearings and the German war economy". Scandinavian Economic History Review 23, no.1(1975): 15-35.

29. General Motors statement in response to media calls about the Washington Post story regarding GM and World War II Germany. n.p.: General Motors News Press Releases, November 30, 1998.
Note: GM's statement categorically denies that it aided the Nazis in WWII.
Filed in Library at G7.

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30. Halbrook, Stephen P. Target Switzerland: Swiss armed neutrality in World War II. Rockville Centre, NY: Sarpedon, 1998. xii, 320 pp.
Note: Author argues a conservative view that Switzerland's federal system without a central authority and with a militia-based defense enabled Swiss neutrality during WWII. He also asserts that the question of complicity of Switzerland with Nazi Germany should remain open.

31. Hedin, Sven Fredrik and G"ran Elgemyr. Sweden and the Shoah: the untold chapters. Policy studies no. 11. Jerusalem: World Jewish Congress, 1997. 29 pp., plus appendices
Note: Based upon a 1996 Swedish newspaper series revealing the extent to which Sweden purchased gold looted by the Germans, this study reveals that the Swedish traded gold, traded vital raw materials, and gave Germany permission to use Sweden as a transit corridor for Nazi troops. The study notes the awkward balance between self-interest and compassion in recalling Sweden's humanitarian actions to aid victims of the Nazis.

Summary filed in library at H5.
Online: http://www.wjc.org.il/publications/policy_studies/pub_study11.html.

32. Hedin, Sven Fredrik and G"ran Elgemyr. "When Stockholm glittered with stolen diamonds". DN: Dagens Nyheter (Sweden)(October 21, 1997).
Note: Twice a month, a young German official came to Stockholm with stolen diamonds in his diplomatic pouch. In this article, the authors describe how Swedish companies traded illegally with the Nazis. Newly opened U.S. documents indicate that American intellignece suspected the Swedish of dealing in stolen diamonds during WWII.
Filed in the Library at H13.
Online: http://www.dn.se/DNet/departments/172-static/english/ediamant.html.

33. Henry, Marilyn. Switzerland, Swiss banks, and the Second World War: the story behind the story. New York: American Jewish Committee, 1997. 42 pp.
Note: This analysis of Switzerland's banking activities during WWII and what happened to Jewish assets in Swiss banks calls for Switzerland to help the remaining Holocaust survivors and to engage in "moral stock-taking" about its business and banking history. The documents of "Operation Safehaven", a US military intelligence operation assigned to identify and track Nazi assets in neutral countires, indicate that besides holding dormant Jewish accounts, Switzerland had stored German assets and allowed Germany to exchange gold for currency thereby enabling the Reich's war effort. Switzerland's behavior since WWII demonstrates that the Swiss felt no commitment to uncover victim assets on their own.
Shelved in the National Archives Library at D819.S9H46 1997.

34. Higham, Charles. Trading with the enemy: the Nazi-American money plot, 1933-1949. New York: Barnes & Noble Books, 1983. xx, 277 pp.
Note: Higham's book on Nazi-American wartime business relations revolves around the Bank for International Settlements in Basel, Switzerland, established in 1930 under the Young Plan to handle German reparations to the Allies after World War I, but under Hitler's control by the outbreak of World War II.
Shelved in the library at HF3099.H5.

35. Higham, Charles. American swastika: the shocking story of Nazi collaborators in our midst from 1933 to the present day. New York: Doubleday, 1985. xvii, 332 pp.
Note: Information on trade with Nazi Germany by American businesses.

36. Howe, Desson. "A wealth of new information on Holocaust: declassified bank, other wartime papers at Archives generate lots of interest". Washington Post(November 18, 1998): B1, B8.
Note: This article focuses on the importance of archival records to the study of Holocaust history; because of NARA records, the economic history of WWII is being told, as well as the full level of knowledge and complicity on the part of business, financial, and political leaders.
Filed in the Library at H30.

37. Karlbom, Rolf. "Sweden's iron ore experts to Germany, 1933-1944". Scandinavian Economic History Review 13, no.1(1965): 65-72. (A reply to this article by J"rg-Johannes Jäger appeared 15:2(1967); 137-147, Karlbom's response appeared 16:3(1968); 172-175).

38. Kolko, Gabriel. "American business and Germany, 1930-1941". Western Political Quarterly 15, no.4(December 1962): 713-728.

39. Leitz, Christian. Economic relations between Nazi Germany and Franco's Spain, 1936-1945. Oxford: Oxford University Press, 1996. 255 pp.
Note: Based on German, British, Spanish and American sources, this book is a thorough study of Spain and its relations with Nazi Germany. It focuses on the economic relations from the time of Franco's victory over the Spanish Republic when the Nazis planned to convert Spain into an 'economic colony'. Franco turned out to be unwilling to subordinate Spanish interests to either Hitler or the Allies; as the war continued, the Nazis became relatively reliant on Spain for critical raw materials.

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40. Lochner, Louis P. Tycoons and tyrant: German industry from Hitler to Adenauer. Chicago: Henry Regnery, 1954. 304 pp.
Note: A study of industrial leaders and their contributions to the Nazi war effort including financial contributions to Hitler's movement. Chapter 12 is on forced labor and the spoliation of foreign plants.

41. Lomfors, Ingrid. "Not all Swedes remained silent". DN: Dagens Nyheter (Sweden)(October 21, 1997).
Note: Although many Swedes were pro-German, there were important exceptions: among them academics, clerics and women involved in refugee work.
Filed in the Library at S3.
Online: http://www.dn.se/DNet/departments/172-static/english/etyste.html.

42. Marks, John. "Now, American firms face Holocaust claims: finger-pointing at the Swiss comes full circle". U.S. News & World Report 124(December 14, 1998): 40.
Note: Documents discovered at the National Archives show that a number of US firms dealt directly or indirectly with the Nazi regime.

43. Newton, Ronald C. The "Nazi menace" in Argentina, 1931-1947. Stanford: Stanford University Press, 1992. xx, 520 pp.
Note: US Safehaven teams sought assets sequestered by Nazis in Argentina.
Shelved in library at F2848.N4.

44. Offer, Avner. "Morality and admirality: "Jacky" fisher, economic warfare and the laws of war". Journal of Contemporary History 23, no.1(1988): 99-119.

45. Reveille, Thomas. "The purse strings: the art of commandeering money and banking". In The spoil of Europe: the Nazi technique in political and economic conquest, 89-147. New York: W.W. Norton, 1941.
Note: In this early report on the plunder of occupied countries by Germany, the author tells of the financial and economic structure imposed on the conquered areas including the seizure of raw materials, finished products, machinery, and trains, as well as the imposition of a charge for "costs of occupation". Reveille notes that all gold and foreign asset reserves of occupied countries are seized and he tells how the Nazis stripped the Jews of property and wealth. The author's chapter entitled "The Golden Haul" tells in detail how the gold reserves were taken and how the Bank for International Settlements served Nazi purposes.

46. Ruth, Arne. "The Holocaust as a business project". DN: Dagens Nyheter (Sweden)(May 17, 1997).
Note: During WWII, Switzerland served as a curtain for other countries by creating multinational gold depository for neutral and non-aligned national states - Sweden, Portugal, Spain and Turkey - to use in trading money with the Axis. After the war, at a time when the Swiss were claiming that they had not received stolen Nazi gold, Swedish officials collaborated the Swiss statements by indicating that they, too, had trust in Emil Puhl, who led the day-to-day operations for the German Reichsbank, and who had assured the Swedes that no stolen gold had been transferred to the Swedish accounts. According to the author, Puhl planned with the SS how victim gold and other valuables could be used for the war effort.
Filed in the Library at R15.
Online: http://www.dn.se/DNet/departments/172-static/english/eaffair.html.

47. Scally, William. "U.S. report details close Swiss-German war ties". Reuters(December 17, 1996).
Note: According to an official 1945-1946 report, gold deposits in Swiss banks doubled between 1939-1945 due to Nazi gold deposits. The report also states that Swiss industry was geared to the German war effort and Swiss banks used for German financial transactions.
Filed in Library at S17.

48. Swiss policies on purge of Axis supporters. Washington: State Department, 1945.

49. Vagt, Detlev F. "Switzerland, international law and World War II: editorial comment". American Journal of International Law 91, no.3(July 1997): 466.
Note: On the whole, Switzerland's behavior during WWII was in compliance with the rules of international law regarding neutrality.
Filed in Library at V5.

50. Waters, Donald Arthur. Hitler's secret ally, Switzerland. Le Mesa, CA: Pertinent Publications, 1994.
Note: In addition to the availability of the Swiss banking system to the Nazi war effort, the author reports that Switzerland's production of machine tools and precision parts, including jeweled bearings, was devoted to Germany's needs during the war. The Swiss also furnished electric power to the Third Reich, as well as the use of its key north-south railway system to support German troops in the Mediterranean area.

51. Ziegler, Jean. The Swiss, the gold, and the dead: how Swiss bankers helped finance the Nazi war machine. New York: Harcourt Brace, 1998. xii, 336 pp
Note: The author, a member of the Swiss parliament, expands on Swiss involvement in Nazi German war crimes by showing how top bankers laundered gold stolen from conquered nations' banks, as well as from Jewish homes, businesses, and even victims' teeth. Ziegler argues that by exchanging this loot for foreign currency and giving Hitler loans and arms, Swiss citizens prolonged the war. He documents the transfers of funds to South America to aid fleeing Nazis after the war, notes the turning away at the Swiss border of Jewish refugees, the imposition of unconstitutional taxes on Swiss Jews by their own government, and the misappropriation of bank funds from Jewish heirs unable to produce proof of death of family members who died in death camps.
Shelved in the National Archives Library at D810.D6Z5413.

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