Rockefeller Internationalist - Emanuel Josephson




The Rise of the Rockefeller Empire

A Lamp More Magic Than Aladdin's

The rise of the Rockefeller Empire, the greatest the world has ever known, has been the most fateful development of the twentieth century. Coupled with the spread of Marxism, with which it has been closely identified, it has assumed the rule of human destiny.

The story of the origin of the Standard Oil Company, and of the Rockefeller fortune with which it is synonymous, has been repeatedly told in such works as Ida Tarbell's The Standard Oil Company; in the exhaustive biography, John D. Rockefeller (JDR), written by Professor Allan Nevins, of Rockefeller's Council on Foreign Relations and Columbia University, with the authorization of John D. Jr. and the cooperation of the family, as a definitive memorial; and in numerous official government investigations, lawsuits and other records. A brief resume will suffice.

John D. Rockefeller was the son of "Doc" Williams Avery Rockefeller. "Doc" was a cunning, crafty, unscrupulous, ruthless and irresponsible vendor of patent medicines and a quack physician. He advertised himself as "The Celebrated Cancer Specialist—All Cases Cured Unless Too Far Gone", according to John K. Winkler in his John D.—A Portrait In Oil. It is reported that his cancer remedy was crude petroleum oil, sold at twenty five dollars a pint, when the traffic would bear it. Nevins also reports rumors of horse thievery, bigamy and an indictment for rape. As a consequence, the Rockefellers were forced to migrate, an incident that has been repeated in the family history; and they hit upon hard times. John D's early life was one of insecurity and spells of poverty. As biographer Nevins states it:

". . . the inevitable tendency of this family atmosphere of hazard and dubiety was to foster in him . . . a profound desire for certainty and dependability . . ."

Though for the major part the father derived a handsome income from his devious devices, and at times provided well for the family, the lapses intensified in John D. an instinctive penuriousness and love of money. This was further intensified by the training which the father gave his sons, mayhap unintentionally and instinctively to make amends for failing to provide adequately at all times for the family, a training that would help materially in keeping the wolf from the door. Nevins quotes his boasts about it to his crony, Uncle Joe Webster, as follows:

"'I cheat my boys every time I get a chance', the doctor said. 'I want to make 'em sharp, I trade with the boys and skin 'em, and I just beat 'em every time I can. I want to make 'em sharp.'" Ruthlessness and rapacity were masked by a pose of benevolence and philanthropy. This attitude and training have become a family tradition. John D. acknowledged that even as a multi-billionaire he suffered from an insane fear of poverty. He related in a talk to the Standard Oil Club on May 7, 1904, quoted by Nevins, that:

"As a multimillionaire, he would occasionally awake fancying that he was still a clerk under Hewitt (his first employer) and had discovered a shortage."

Fear of poverty was imposed by him on those about him, especially on his family, to such extent that it became the mainspring of the character of Rockefeller enterprises. This fear could be allayed only by such complete domination of the community and of the world that no one could ever arise to offer competition or to threaten impoverish him. This mental condition gave rise to a super-Napoleonic complex, a driving urge to rule the U.S. and the world.

The initial urge manifested itself in the field of oil. Rockefeller had built up with ruthless skill the powerful Standard Oil monopoly. By 1915, it produced almost a third of the oil of the United States. Complete monopoly of all phases of the oil business loomed as a conceivable goal. This dominant role had been gained by gangsterism that would make an A1 Capone blush. In the process there had been used unsavory methods ranging from theft to arson and slaughter. The tactics adopted by the Rockefeller interests differed primarily in their excesses, from those adopted by the respected Morgans, Vanderbilts, Goulds and others of the time. But the Rockefeller Standard Oil tactics were even more ruthless than the others and were crowded with inordinate success. His methods are illustrated by the reports of Ida Tarbell in The History Of The Standard Oil Co. and by Anton Mohr in The Oil War. The latter reports:

"Standard Oil's intrigues—the Americans even hired bands of Mexican brigands, who destroyed Pearson's (Mexican) oil-pipes and set his wells on fire . . ."

Nevins subtitled his official biography of Rockefeller, The Heroic Age Of American Enterprise. If systematic use of arson, murder, burglary, theft, extortion, swindling, blackmail, wholesale corruption of public officials and gangsterism on a grandiose scale are "heroic", this was indeed an heroic age. And one of the most "heroic" of the contemporary figures was John D. Rockefeller. All his untiring energy and sleepless enterprise were devoted to the "holy" purpose of acquiring unlimited wealth and power, and the "security" he sought for himself.

In the process of development of the Standard Oil Co. by merger with powerful allies and by ruthlessly crushing rivals and weaker independents, a score of great fortunes were made. A curious collaboration has prevailed among most of those families whose fortunes were made in the Standard Oil Co., and retained. They have accepted the domination of the Rockefellers. This is denied by them and by biographer Nevins. But there is much evidence to bear it out. Many enterprises are controlled by these fortunes, and in turn by the Rockefellers, and innumerable matrimonial financial alliances have been formed.

Oliver H. Payne acquired as in-laws, William C. Whitney and Gertrude Vanderbilt. They have come to dominate American Tobacco Co., Great Northern Paper Co., Belmont Park Race Track, Pan American and New York Airways (with Juan Trippe), Hudson Bay Mining & Smelting Co., Whitney Realty Co., Technicolor Inc., Selznick International, the Communist newspaper PM, now defunct, and many others.

Oliver B. Jennings acquired as in-laws, William Rockefeller and Mary Brewster. They dominate Bethlehem Steel Corp., McKesson & Robbins, U.S. Industrial Chemical Co.. National Fuel Gas Corp., National Distillers Co., Amalgamated Textiles, and others.

Stephen V. Harkness' family are important factors in New York Central and Southern Pacific railroads, and in Time Inc. The Pratts are factors in the Chase National Bank and Corn Products Refining Co. John D. Archbold and his family had important holdings in National City Bank, Equitable Trust Co., General Electric Co. and Pennsylvania Central Airlines. Henry Flagler controlled Florida East Coast R.R. and other extensive holdings in Florida. Edward T. Bedford was an important holder of stock in Title Guarantee & Trust Co., American Tobacco Co., Bedford Petroleum Co., Corn Products Refining Co. and Penick & Ford Ltd., Inc.

William Rockefeller numbered among his inlaws the Dodges, Stillmans, Carnegies and the Watjens. He was a dominant factor in National City Bank, Anaconda Copper Co., American Brass Co., Air Reduction Co., U.S. Industrial Alcohol Co., U.S. Rubber Co. and many others. Their holdings in the Standard Oil Co. are small as compared with those of John D.

The holdings and wealth of John D. Rockefeller and his descendants mushroomed so rapidly that it is difficult to keep track of them. Indeed the task has been made almost impossible because of the family practise of holding stock in the names of nominees and trustees, almost exclusively in many instances. They appear in person in very few corporations which they control. Their nominees and agents are multitudinous. The more important of them are generally placed by the Rockefellers on the boards of trustees of their various "philanthropies" and in the membership of their agencies, especially the Council on Foreign Relations. As a rule, this is done at the time of acquisition of the property for which the individual acts as nominee.

Thus, about 1937 it was rumored that the Rockefellers had acquired control of the New York Times for the sum of seventeen and a half million dollars. At about the same time one of the nominal owners of the Times and its publisher, Arthur Hays Sulzberger, became a trustee of the Rockefeller Foundation. The name of Rockefeller has never been publicly identified with the Times. But the publication has been obviously the official journal of the Rockefeller Empire, in much the same sense that the London Times has been the official journal of the British Empire. Reliable information regarding Rockefeller ownership or control of the Times, however, has never been made public.

It has been an apparent objective of the Rockefeller interests to gain monopolistic control of every necessity of life and of every source of energy, oil, gas, coal, water- and wind-power, electricity, atomic energy and every other source that exists or comes into being. They have not yet succeeded in making the greatest of all sources of power, the sun, render them tribute. But when a means for doing so will be devised, they will control it, and make the world pay for its solar energy. They seek to control all necessities from the time they are produced until they are consumed, and to cartelize the process. They control every important governmental agency in the land, and abroad, and have converted them into their private agencies that are empowered to levy upon and confiscate the wealth of every private citizen, and of the nation, through taxation and control of the expenditure of the funds thus levied. The citizenry of the U.S. virtually have been disfranchised in the process. For all effective purposes, the Rockefellers remain free of taxation under the laws written and enforced by their agents.

As a consequence, the wealth of the Rockefellers is incalculable. Favored by the law, their fortune grows while others are wiped out. It is doubtful if there exists enough money in the world to make their wealth liquid. For it represents the wealth of all of us, plus control of the natural resources of the larger part of the world, or possibly of all of it. In effect, the wealth of all of us is levied on and, in many instances, confiscated, for the advantage of the Rockefeller Empire. Our tax and other laws are effecting for the Rockefeller interests a monopoly of all the wealth of the nation. This serves to explain why the Rockefellers personally are so consistently and insistently demanding increased taxation to pay for ever larger expenditures for the Marshall Plan, the Point 4 program, and any device for squandering the taxpayers' moneys. The tax moneys from these programs flow into their own coffers. Their "philanthropies" are defrayed with "other people's money", the taxpayers'. These matters will be related later in full detail.

The visible wealth of the Rockefellers, that which they hold in their own names, is, nevertheless, the world's largest fortune. Their holdings of the various Standard Oil Companies, that constituted the nucleus of their wealth, has been variously estimated. The semi-official figures released by them in their publication Life, on April 17, 1950, expressed as percentages of the outstanding voting stock, is as follows:

  • Standard Oil of New Jersey, 14.52% of sixty million shares with market value of more than four billion dollars;
  • Standard Oil of Indiana, 13.58%;
  • Standard Oil of California, 12.58%;
  • Socony-Vacuum, 17.25%;
  • Standard Oil of Ohio, 10%;
  • Ohio Oil Co., 13.02%.

These figures are a bit lower than reported to the Interstate Commerce Commission in 1933, when in addition the following holdings were listed:

  • Prairie Pipe Line, 14.72%;
  • Atlantic Refining Co., 7.12%;
  • South Pennsylvania Oil Co., 32.92%;
  • and 69,020 shares of Shell Union Corp. of the Royal Dutch group.

These holdings constitute but a small fraction of the holdings in those companies held by the Rockefellers in the names of the Foundation and other nominees, and holding companies, interlocking stock ownership and other devices. Their holdings in the so-called "independent" oil companies, such as Texas Co., Pure Oil Co., and a host of others, are equally important.

Each of these companies controls a host of subsidiaries that operate throughout the world. Many of them are quite as important and impressive as their mother companies. Among the 149 subsidiaries of the Standard Oil Co. of New Jersey that circle the world are Creole Petroleum Corp., Imperial Oil Co., Humble Oil & Refining Co., and the Arabian American Oil Co. (known as Aramco). The concession of Aramco holdings to the Rockefeller interests cost the U.S. and the world two World Wars, the lives of tens of thousands of GI's, and endless misery for mankind. The expense of its development has been defrayed largely by U.S. taxpayers. It produces more than 850,000 barrels of oil, a day for Rockfeller interests exclusively, that they have supplied to Russia, the Chinese and Korean Communists, and yields them a tax-exempt gross income of almost two million dollars a day, largely, and possibly entirely, paid them by the U.S. Treasury.

The international ramifications of the Rockefeller Empire are illustrated by the principal affiliates listed in pages 20-21 of the 1950 Annual Report of the Standard Oil Co. of New Jersey, as follows:

STANDARD OIL CO. OF NEW JERSEY
Consolidated Companies & Percentage Owned

UNITED STATES
Esso Standard Oil Company (100%) (Refining, transportation and marketing on Eastern seaboard)
Humble Oil & Refining Company (72%) Producting, transportation, refining and marketing in Texas
The Carter Oil Company (100%) Producing, refining and marketing in central United States and Rocky Mountain area
Interstate Oil Pipe Line Company (100%) Pipeline transportation, Oklahoma, Louisiana and Mississippi
Interstate Natural Gas Company, Incorporated (64%) Production of natural gas in Louisiana
Esso Shipping Company (100%) Marine transportation
Esso Export Corporation (100%) Marketing
Mediterranean Standard Oil Co. (100%) Purchase and sale of Middle East crude and products
Gilbert & Barker Manufacturing Company (100%) Manufacturing and sale of oil burners and service station equipment
Enjay Company, Inc. (100%) Marketing of chemical products
Standard Oil Development Company (100%) Research and development
CANADA
Imperial Oil, Limited (70%)
LATIN AMERICA
Creole Petroleum Corporation (94%) Producting, transportation, refining and marketing in Venesuola
Lago Oil & Transport Company, Limited (100%) Refining in Aruba, Indonesia
International Petroleum Company, Limited (88%) Producing, transportation, refining and marketing In Peru, Colombia and Venezuela
Panama Transport Company (100%) Marine transportation
Standard Oil Company of Brazil (100%) Marketing in Brazil
Esso. Productora de Petre1eo S. A. (100%) Producing in Argentina
Esso, Refinadora de PetnSleo S. A. (100%) Refining in Argentina
Esso, Sociedad Anrtnima Petrolera Argentina (100%) Marketing in Argentina
Ebso Standard Oil Company (Chile) S.A.C. (100%) Marketing In Chile
Esso Standard Oil Company (Uruguay), S.A. (100%) Marketing in Uruguay
Esso Standard OH Company (Cuba) (100%) Refining and marketing in Cuba
Esso Standard Oil Company (Puerto Rico) (100%)
Esso Standard Oil (Antilles) S.A. (100%) Marketing In Gulanas and Lesser Antilles
Esso Standard Oil (Caribbean) S.A. (100%) Marketing in Bermuda, the Bahamas and Greater Antilles
Esso Standard Oil (Central America) S.A. (100%) Marketing in Central America
Standard Oil (Canal Zone) Company (100%) Marketing in Canal Zone


NON.CONSOLIDATED COMPANIES

UNITED STATES
Plantation Pipe Line Company (49%) Pipeline transportation from Louisiana to North Carolina
CANADA
Interprovincial Pipe Line Company (85%) Pipeline transportation from Alberta to Wisconsin
EUROPE AND NORTH AFRICA
Anglo-American Oil Company. Limited (100%) Refining, transportation, and marketing in the United Kingdom and Erie
Standard Francaise des Pctroles S.A. (56%) Refining and marketing in France
Esso A. G. (100%) Marketing in Western Germany
Ebano Asphalt-Werke A. G. (100%) Refining in Western Germany
GewerkBchaft Brigitta (60%) Producing in Western Germany
Societa Petrolifera Italiana p. A. (69%) Producing and refining in Italy
Stanic-lndustria Petrolifera S. p. A. (60%) Refining in Italy
Esso Standard Italians, S. p. A. (90%) Marketing in Italy
Esso Standard (Belgium) (88%) Marketing in Belgium
Standard Amerikaansche Petroleum Cie. N. V. (66%) Marketing in the Netherlands
N. V. Nederlandse Aardolie Mij. (50%) Producing in the Netherlands
Det Danske Petroleums A/S (82%) Marketing in Denmark
Svenska Petroleum A/B Standard (100%) Marketing in Sweden
A/S Ostlandske Petroleumseompagni (66%) Refining and marketing in Norway
O/Y Nobel-Standard A/B (67%) Marketing in Finland
Esso Standard (Switzerland) (100%) Marketing in Switzerland
Esso Standard Algtrie S. A. (100%) Marketing in Algeria
Esso Standard Tunisia S. A. (76%) Marketing in Tunisia
Esso Standard (Near East), Inc. (100%) Marketing in eastern Mediterranean
MIDDLE AND FAR EAST
Standard-Vacuum Oil Company (50%) Producing, refining, transportation and marketing in Far East, Australasia and Africa
Iraq Petroleum Company, Limited (12%) Producing, refining and pipeline transportation In Iraq
Arabian American Oil Company (80%) Producing and refining in Saudi Arabia
Trans-Arabian Pipe Line Company (80%) Pipeline transportation from Saudi Arabia to Mediterranean terminal In Lebanon

The Standard Oil holdings of the Rockefellers is a small fraction of their wealth. One of the most astute students of the Rockefeller interests is Henry H. Klein, former Commissioner of Accounts of New York City. His estimate of the Rockefeller wealth in the depression year 1938, published in his pamphlet Rockefeller Or God, is as follows:

"In my book, Dynastic America and Those Who Own It, published in 1921, I estimated the wealth of the Rockefeller family at $2,400,000,000. I estimated at that time, that the Rockefellers owned about $1,000,000,000 in oil alone; $400,- 000,000 in railroad stocks, bonds and notes; $400,000,000 in industrial corporations, mines and banks; $300,000,000 in national, state, city and foreign bonds; $200,000,000 in public utilities securities; and $100,000,000 in real estate and mortgages.

"I now revise this estimate to date. The Rockefeller family now owns about five billion dollars ($5,000,000,000), and enjoys an income of about $250,000,000 a year, or about $5,000,000 week. In my opinion, their holdings are approximately as follows:

Standard Oil and other oil securities. $2,000,000,000
National, state, city and foreign bonds. 1,000,000,000
Real estate and mortgages. 600,000,000
Railroad stocks, bonds and notes 400,000,000
Industrial corporations, mines and banks 400,000,000
Public utilities securities. 300,000,000
Miscellaneous investments (unclassified) 300,000,000

"The Rockefellers are the richest family on earth, all made in the lifetime of one person, the late John D. Rockefeller. When the latter died a year ago his will disposed of $25,000,000 to a grandchild. It made no mention of any other property. It is obvious, therefore, that all the other wealth that he had accumulated had been distributed before his death, on which no inheritance tax was paid. In fact, in my book, Dynastic America and Those Who Own It, published in 1921, I tell of the transfer of more than one billion dollars in oil holdings alone, to his son, John D. Rockefeller, Jr., the year before. I also tell of the transfer of vast oil holdings to his daughter, Alta Rockefeller Prentice; to Mrs. Edith R. McCormack, another daughter; to the Rockefeller Foundation, General Education Board, and Laura Spelman Rockefeller Memorial Fund. These transfers from John D. Sr., included hundreds of thousands of shares of Standard Oil securities, and a vast amount of other securities which doubled and tripled in value before he died.

"In Dynastic America and Those Who Own It, I estimated Mr. Rockefeller's income from his total Standard Oil holdings alone, prior to 1921, at about $400,000,000 cash, and about $250,000,- 000 in dividend stocks. Since 1921, these amounts have been at least doubled.

"Aside from their ownership of about one-quarter of the securities of the leading Standard Oil corporations, the Rockefellers own securities, consisting of stocks, bonds and notes, in most of the large, so-called independent oil corporations in the United States. They are also heavily interested in the Royal Dutch and other foreign oil monopolies in many countries. Their interests cover virtually every spot on earth, including Russia, where they own a half interest in the Nobel Oil Works.

"It is known that the Rockefeller family owns a vast amount of government securities. John D. Sr. was credited with having bought most of the second Liberty Loan, and a large amount of Victory bonds during the World War (tax exempt), and it is known that he and his brother, William, bought other securities of the U.S. Government, and of many cities and states. The Rockefeller family is credited with owning the largest amount of bonds of the City of New York, their holdings in these securities being estimated at more than $100,000,000. When William Rockefeller died in 1922, he left many millions of dollars of the bonds of the City and State of New York. His wealth at the time (about $150,000,000), was less than one-tenth his brother's holdings. Because of their ownership of government securities, aside from other wealth, the Rockefellers are the most influential factors in government.

"The Rockefellers' holdings in real estate are tremendous, their holdings in New York City alone, being estimated at over $500,000,000, or about 3 percent of the total assessed value of all real estate in Greater New York. They have similar large holdings in other cities, and their personal estates are estimated to have cost at least $50,000,000. Besides these personal holdings, the various Standard Oil corporations which they control, own real estate whose actual and potential value is several billion dollars.

"The Rockefellers have long been credited with controlling the leading railroads in the U.S. through their ownership of the largest share of railroad securities. They are known to be heavily interested in the Pennsylvania, New York Central, Union Pacific, Southern Pacific, Central R. R. of New Jersey, Erie, Western Maryland, Wabash, Michigan Central, Missouri Pacific, West Pacific, Texas and Pacific, Northern Pacific and Great Northern, Baltimore and Ohio, Wheeling and Lake Erie, Seaboard Air Line, Reading, National Railways of Mexico, Missouri, Kansas and Texas; Atchison, Topeka and Santa Fe; Chicago, Milwaukee and St. Paul; Denver and Rio Grande; Chicago and Alton; Chicago, Rock Island and Pacific; Illinois Central; New York, New Haven and Hartford; Kansas City Southern and other railroads.

"The Rockefellers have been credited with being the leading, if not controlling factors in most of the large industrial corporations and mines. They were heavily interested in the U.S. Steel Corp., Bethlehem Steel, General Electric, International Harvester, Westinghouse Manufacturing Co., Armour & Co., American Linseed Co., National Lead, Corn Products Refining Co., Sheffield Farms and Bordens, American Tel. & Tel., Radio Corp. of America; Colorado Fuel & Iron Co., American Shipbuilding Co., Virginia Carolina Chemical Co., Republic Iron & Steel Co., Jones & Laughlin Steel Co., Provident Loan Society, Consolidated Coal Corp., and in other mining and industrial companies in various parts of the U.S., and in other countries.

"Rockefeller holdings in banks and other financial institutions are indicated by the fact that they control the Chase National Bank, the largest in the U.S., with deposits of two billion dollars, in which they invested $45,000,000 cash, and that before they acquired this holding, they sold their interest in the Bankers Trust Company for $28,000,000. They owned the Equitable Trust Company almost outright before they combined it with the Chase National Bank. Winthrop W. Aldrich, chairman of the Board of the Chase National, is a brother-in-law of John D. Rockefeller, Jr., who married Aldrich's sister, a daughter of the late Senator Nelson W. Aldrich of Rhode Island, who was one of Rockefeller's chief agents in the U.S. Senate. The Rockefellers are interested in other large financial institutions in the U.S. and in foreign countries, including life and fire insurance companies, and they are heavily interested in the National City Bank in New York City, the second largest bank in the country; Central Hanover Bank & Trust Company, New York Trust Company, J. Henry Schroeder Banking Corporation, and banks and trust companies in many cities.

"The Rockefellers have long been interested in public utilities corporations. They early acquired control of the Consolidated Gas Company in New York City which is now the Consolidated Edison Co., in which their holdings are worth at least $50,000,000. Most of the Rockefeller stock holdings in this corporation are in the names of "dummies". They control the Manhattan Elevated R.R. Co. in New York City, in which they invested about $25,000,000, and they hold millions of dollars of the bonds and notes of the Brooklyn Manhattan Transit Corp. and Interborough Rapid Transit Company, which operate subways in Greater New York. They own millions of dollars of stocks, bonds and notes, in other utilities monopolies, including the United Gas Improvement Co., Public Service of New Jersey, People's Gas of Chicago, Mountain Fuel Supply Co., Colorado Interstate Gas Co., Mutual Fuel Gas Co., Chicago Railways Co., Philadelphia Co., etc.

"The Rockefellers are interested in many corporations aside from those enumerated or referred to, whose securities are not traded in on the Stock Exchange, but which do a large business in their lines. They are interested financially in almost every large corporation in the country.

"The Rockefeller family controls the wealth of the world. No family owns more than half their wealth. The Rothschilds of Europe, the Du Ponts in the United States, and the Mitsuis in Japan, are their closest rivals. The wealth of these families is estimated at about $2,500,000,000, each. The Rockefellers' wealth is about five billion dollars. Their income is estimated at $250,000,000 a year, or about $5,000,000 a week. At that rate, the Rockefellers will continue to outstrip every other family. They control about $250,000,000 a year in newspaper, magazine, and radio advertising, and their influence in this direction is supreme. It is realized by those in the publishing business, that no newspaper or magazine could live without the advertising patronage of the corporations which they control. For that reason, the Rockefellers are able to shape editorial policies in newspapers, magazines, and on the radio. The Rockefellers are interested in three daily newspapers in France, and they undoubtedly own or control newspapers and magazines in other countries. They control broadcasting and moving picture corporations in this country, directly through their ownership of 500,000 shares of R.K.O. and through their interest in the Radio Corporation of America (in which they owned 300,000 shares), Westinghouse, and General Electric, all of which own the patent rights on all sound equipment in all the moving picture houses. Their banking houses finance large moving-picture corporations."

These estimates of Rockefeller wealth, made in 1938 in the midst of a depression on the basis of the depressed market price of stock holdings and at a time when crude oil sold as low as 10c a barrel as compared with the present price of more than $2.00 a barrel, have been made absurd underestimates by ensuing developments. Two World Wars and inflation have multiplied the visible Rockefeller wealth fantastically. To-day, their oil holdings purchased for them by U.S. taxpayers' money and the lives of tens of thousands of doughboys and GIs lost in two World Wars, are alone worth more than five billion dollars. Their share of the capitalized income from approximately 160 wells in the hundreds of square miles of their Saudi Arabian concessions, producing almost 850,000 barrels of oil a day yielding an income of about $2,000,000 a day, are alone worth over $2,500,000,000) ?>aside from the value of the proved reserves in the one field which runs many times that figure. And though it was being produced, refined and marketed virtually entirely at the expense of the American taxpayer, largely for direct or indirect delivery to the Soviets, it is tax-exempt for all practical purposes. From the value of this one holding it can be discerned that the wealth of the Rockefellers is incalculable and can not be expressed in terms of money. It must be expressed in terms of control of the limitless resources of the world.

These holdings of the Rockefellers are but a small fraction of their domain. They control the Borden (Milk) Co., as well as National Dairy Products Co., comprising together what their protege, Henry Wallace, has labelled the "Milk Trust".

"Philanthropically" it has raised the minimal price of milk from six cents to more than twenty cents a quart while degrading its quality. They control the Drug Trust, including American Home Products Co. and its subsidiaries, Winthrop Chemical Co., Sterling Products, the I.G. Farbenindustrie and its American and world-wide subsidiaries, American Cyanamid Co. and its Lederle Laboratories, and numerous other major drug and chemical concerns. They control most of the important newspapers, magazines and book-publishing houses in the country, including the Curtis Publications, the Hearst Publications, Time, the New York Times, the Associated Press (through control of its members) and many others, both here and abroad; and they and their associates have liberally subsidized the staffs of such radical and Communist publications as the Daily Worker, Masses, PM and Amerasia. Through their control of member banks, they dominate the Federal Reserve System, and through it, the U.S. Treasury.

Personal charm is now rated highly by the Rockefellers, as an asset in attaining their goal. It helps to delude and serves well in lieu of more substantial coin, John D. Jr. has recounted with pride his experiences in this direction with the victims of the massacre of the families of the striking workers of his Colorado Fuel & Iron Co. When public indignation against them for this brutal affair ran high, on the advice of their public and labor relations adviser, Mackenzie King, he visited the homes of the intimidated victims amidst a burst of publicity. He relates, proudly, that not even their victims could resist his personal charm. In their publicity releases, they stress the fact that they are liberal with charm only, for it costs them nothing. Charm and hospitality masking an iron fist, have won them many victories in dealing with the unsuspecting, and much profit.