Newspaper Page Text
The Southern Israelite
Page 5
Will Test Einstein
Theory in May
Two great Jewish industrialists
have been getting it, as we say in
. ulgar parlance,—Lord Melchett from
his old chief Mr. Lloyd George, and
s: r Hugo Hirst, the creator and build-
1 er of the great General Electric Com-
i pany, from the London Press, from
j his American stock-holders, and from
| Colonel Josiah Wedgewood in the
House of Commons. The Lloyd
| George-Melchett conflict is nothing
new. It goes back to more than three
years ago, when in January 1926 Sir
■ Alfred Mond, M. P., as he was then,
loft the Liberal Party, with which he
had been connected since the begin
ning of his political life and joined
the Conservative Party. Mr. Lloyd
I George took the secession in very bad
part, and broadcast a statement to
[ the Press which caused a good deal
,.f surprise because of the unexpected-
I ly vicious way in which he hit out at
Lord Melchett’s Jewish origin with a
I comparison of him to Judas. The Lib-
I oral Party offers poor prospects now
I for ambitious men, he sneered, so
I like another notorious member of his
I race, he has gone to his own place.
I Lord Melchett said little in reply, but
I he could not restrain himself from
I denying the implication, that he had
I acted as he did to serve personal
1 ends.
And now comes the continuation.
I Lord Melchett had occasion the other
[ day to criticise in a public speech Mr.
I Lloyd George’s policy. Like a kick
I from a mule, came Mr. Lloyd George’s
reply: An attack has been made upon
I me by an eminent artistocratic Con-
servative, Lord Melchett, formerly
I known as Sir Alfred Mond, he said,
All 1 can say about it is that in his
I personal attack he excelled at least
n vulgarity. Why did he quarrel with
,IU ‘ I w as the first man to give him
:tice. lie had been in the House of
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Lloyd George Has It In For Melchett—
Wedgwood Goes For Sir Hugo
London iSeti's Letter
By JOSEPH LEFTINCH
Commons under three administrations,
but not one of them had offered him
the post even of a doorkeeper and it
was not for any lack of push on his
part. Quite frankly, he was loathed
by the Conservatives, and the Liber
als, knowing him better, liked him
even less. I received a serious protest
against that appointment, but I pro
moted him to even higher office, and
when he was out of parliament took
special steps in helping him to find
a seat. In fact, I pulled him by the
tail, in spite of the heavy weight of
prejudice against him, from one of
fice to the other, until the tail came
off in my hand. The Conservatives
have clapped another tail on. It was
not the one he expected, but it was
a glittering one.
As for Sir Hugo First, he got into
trouble because of the decision of his
company, the General Electric Com
pany, to issue a proposed new block
of a million and a half shares to Brit
ish shareholders only, with the effect
of cutting out American shareholders
from any proprietary ownership in
the company. With Anglo-American
feeling what it is, the move was re
ceived with trepidation in the London
Press. Editorials galore appeared
censuring Sir Hugo for an unneces
sary affront to American susceptibili
ties. And Colonel Wedgewood made
a savage slash at him in the House
of Commons on the score that super
patriotism of this kind does not come
well from a German-born naturalised
Englishman. There was a time when
similar play was made about the Ger
man origin of Lord Melchett, then Sir
Alfred Moritz Mond, as his critics de
lighted to recall by emphasizing the
“Moritz” with heavy irony.
Anyhow, the protest against Sir
Hugo’s decision became so general
that he had to withdraw his plan, and
make some sort of compromise to
satisfy the American interests.
Meanwhile, however, something has
happened about which there has not
been anything like as much publicity
—a counter move in the United States
by Mr. W. P. Chapman, the recent
purchaser of eleven ships of the Unit
ed States Lines, who has announced
a plan to sell preference shares in the
new shipping company to American
citizens only, to prevent any possibili
ty of foreign interests obtaining con
trol, or even exercising influence.
The whole force of the attack has
been hurled against Sir Hugo Hirst,
but he is by no means alone in the
big movement which is being carried
on not only in England, but in Ameri
ca and in other countries, too, to ex
clude foreign interests from financial
control. There is in particular a grow
ing suspicion and a fear of domina
tion by the immense powers of Amer
ican post-war wealth, and British cap
ital which was the leading financial
force of the world before the access
of American finance power, is more
than the others on its guard. Lord
Melchett’s activities, aiming at the
organization of the British Empire
as a great economic unit, lie along
this line. To be perfectly frank on
the subject, it appears that Sir Hugo
Hirst on his return from his recent
visit to Australia, found that Ameri
can investors had been taking a very
considerable interest in the shares of
his company, so that more than half
the ordinary capital had wandered
across the Atlantic. He did not like
60 per cent of his ordinary share
holders being American subjects, and
however intense the outcry against
his action was, there is a great deal
of feeling nevertheless below the sur
face that it was right.
The financial penetration of Great
Britain and the Empire has now
reached a point when some drastic
action must be taken, one paper more
bold than the rest, has written. A
domestic revolt against the enroach-
ments of foreign (read American)
finance was bound to occur sooner or
later. The revolt will spread. Big con
cerns are beginning to feel the pinch.
They must resist or lose control of
their trade and policy.
There is a third Jew, Professor Al
bert Einstein, who, if he has not ex
actly been getting it has been spoken
of, however, with a certain amount of
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