west. He named as well the chain of banks in which the German government opened accounts for certain purposes. He showed the credentials brought from the German chancellor by Dr. Dernburg to large financial institutions in New York, which were made repositories of German funds. The letter to one such banking firm in New York, from Warburg & Company of Hamburg, establishing the German credit of 25,000,000 marks, was made a part of the record, also the power of attorney enclosed by Dr. Dernburg to the New York repository.
Mr. Becker mentioned the underwriting of German bonds by a New York concern to a total amount of $9,908,000. The proceeds were deposited with a trust company in New York to the order of the Imperial German Government, and were checked out by von Bernstorff and Albert for deposit in the chain of banks above referred to. It was the intention to make these banking institutions favorable to the German ideas, and unfavorable to the American bond sales. An initial deposit was made with the Equitable Trust Company of $3,350,000; the Columbia Trust Company had an initial deposit of $750,000; the Chase National Bank was alleged to have had an initial deposit of $125,000. As the proceeds of the German war loan notes accumulated, the deposits in certain of these New York financial institutions were increased. In order to avoid any legal complications, the German government opened a blind account so that Dr. Albert could go on with his operations without any fear of detection by anyone desiring to bring legal action against him. These figures will give the reader some idea of the extent of the German finances. All this money—and many times the amounts above mentioned—was spent for the one and only purpose of German propaganda and spy work in the United States.
Major Humes took Dr. Edmund von Mach over the jumps in his cross-examination before the Overman Committee. Von Mach came in for a gruelling by Senator Nelson and others of the Committee when he attempted to speak in justification of German practices in war. He did his best to carry water on both shoulders, but had a very unhappy quarter of an hour. He was followed and
