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All Honorable Men: The Story of the Men on Both Sides of the Atlantic Who Successfully Thwarted Plans to Dismantle the Nazi Cartel System
A scathing attack on Wall Street’s illegal ties to Nazi Germany before WWII—and the postwar whitewashing of Nazi business leaders by the US government
Prior to World War II, German industry was controlled by an elite group who had used their money and influence to help bring the Nazi Party to power. After the Allies had successfully occupied Germany and removed the Third Reich, the process of reconstructing the devastated nation’s economy began under supervision of the US government. James Stewart Martin, who had assisted the Allied forces in targeting key areas of German industry for aerial bombardment, returned to Germany as the director of the Division for Investigation of Cartels and External Assets in American Military Government, a position he held until 1947. Martin was to break up the industrial machine these cartels controlled and investigate their ties to Wall Street. What he discovered was shocking.
Many American corporations had done business with German corporations who helped fund the Nazi Party, despite knowing what their money was supporting. Effectively, Wall Street’s greed had led them to aid Hitler and hinder the Allied effort. Martin’s efforts at decartelization were unsuccessful though, largely due to hindrance from his superior officer, an investment banker in peacetime. In conclusion, he said, “We had not been stopped in Germany by German business. We had been stopped in Germany by American business.”
This exposé on economic warfare, Wall Street, and America’s military industrial complex includes a new introduction by Christopher Simpson, author of Blowback:America’s Recruitment of Nazis and Its Destructive Impact on Our Domestic and Foreign Policy, and a new foreword from investigative journalist Hank Albarelli.
Prior to World War II, German industry was controlled by an elite group who had used their money and influence to help bring the Nazi Party to power. After the Allies had successfully occupied Germany and removed the Third Reich, the process of reconstructing the devastated nation’s economy began under supervision of the US government. James Stewart Martin, who had assisted the Allied forces in targeting key areas of German industry for aerial bombardment, returned to Germany as the director of the Division for Investigation of Cartels and External Assets in American Military Government, a position he held until 1947. Martin was to break up the industrial machine these cartels controlled and investigate their ties to Wall Street. What he discovered was shocking.
Many American corporations had done business with German corporations who helped fund the Nazi Party, despite knowing what their money was supporting. Effectively, Wall Street’s greed had led them to aid Hitler and hinder the Allied effort. Martin’s efforts at decartelization were unsuccessful though, largely due to hindrance from his superior officer, an investment banker in peacetime. In conclusion, he said, “We had not been stopped in Germany by German business. We had been stopped in Germany by American business.”
This exposé on economic warfare, Wall Street, and America’s military industrial complex includes a new introduction by Christopher Simpson, author of Blowback:America’s Recruitment of Nazis and Its Destructive Impact on Our Domestic and Foreign Policy, and a new foreword from investigative journalist Hank Albarelli.
429 pages, Kindle Edition
First published September 1, 1950
118 people are currently reading
493 people want to read
About the author
James Stewart Martin
1 book3 followersJames Stewart Martin (December 10, 1911 – January 30, 1987) was a United States Department of Justice attorney who served as the Chief of the Decartelization Branch for Military Government in Germany after World War II.
Martin was born in Pittsburgh, Pennsylvania on December 10, 1911.
His book All Honorable Men was published by Little Brown in 1950. In it, Martin catalogs the difficulties faced by his team trying to deconstruct the Nazi industrial machine, not the least of which was opposition to his efforts by his superior officer, an investment banker in peacetime. In the book, Martin blamed Wall Street's pre-war ties to German Big Business for obstructionist efforts among the Allied powers to prevent the breakup of German industrial power.
Martin was also Maryland state chairman of the Progressive Party.
During the 1970s, Martin lived in Downers Grove, Illinois, before relocating to Clearwater, Florida. He died there on January 30, 1987, at the age of 75.
Martin was born in Pittsburgh, Pennsylvania on December 10, 1911.
His book All Honorable Men was published by Little Brown in 1950. In it, Martin catalogs the difficulties faced by his team trying to deconstruct the Nazi industrial machine, not the least of which was opposition to his efforts by his superior officer, an investment banker in peacetime. In the book, Martin blamed Wall Street's pre-war ties to German Big Business for obstructionist efforts among the Allied powers to prevent the breakup of German industrial power.
Martin was also Maryland state chairman of the Progressive Party.
During the 1970s, Martin lived in Downers Grove, Illinois, before relocating to Clearwater, Florida. He died there on January 30, 1987, at the age of 75.
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Displaying 1 - 6 of 6 reviews
October 5, 2016
This is a very interesting book for those who like to read about the WWII. The book is very easy and delightful to read.
The author, James Stewart Martin, was the Chief of the Economic Warfare Section of the DoJ charged with investigating Nazi's economic warfare and dismantling the Third Reich industry and activities.
It's like reading a detective's work step by step.
The book is about the relation and importance between American corporations and the German Industrial complex just before and during the the war.
I had read about this relation and also about how the germans prepared in advance for war, but the book gives an amazing detail behind the curtains and how this economic and business relations played out.
American transnationals, Swiss banks and insurers and big european steel cartels were all tangled and, believe it or not, deceived by their german counterparts.
It is amazing how the germans got very good intel about american shipments and its industrial economy just by using the information from the Swiss insurers about american ships and factories.
The book is more than 50 years old and although I do believe that the economic forces play a great deal in every conflict, as the author emphasizes, I think that his warning was kind of wrong. Nonetheless, the historical narrative and evidence is wonderful, and one can really understand that the real power behind Hitler and the Nazis was the german industrial complex, and when the war ended, it was impossible to dethrone these business leaders, in part because of powerful economic interests in both sides of the Atlantic.
The author, James Stewart Martin, was the Chief of the Economic Warfare Section of the DoJ charged with investigating Nazi's economic warfare and dismantling the Third Reich industry and activities.
It's like reading a detective's work step by step.
The book is about the relation and importance between American corporations and the German Industrial complex just before and during the the war.
I had read about this relation and also about how the germans prepared in advance for war, but the book gives an amazing detail behind the curtains and how this economic and business relations played out.
American transnationals, Swiss banks and insurers and big european steel cartels were all tangled and, believe it or not, deceived by their german counterparts.
It is amazing how the germans got very good intel about american shipments and its industrial economy just by using the information from the Swiss insurers about american ships and factories.
The book is more than 50 years old and although I do believe that the economic forces play a great deal in every conflict, as the author emphasizes, I think that his warning was kind of wrong. Nonetheless, the historical narrative and evidence is wonderful, and one can really understand that the real power behind Hitler and the Nazis was the german industrial complex, and when the war ended, it was impossible to dethrone these business leaders, in part because of powerful economic interests in both sides of the Atlantic.
November 13, 2022
1st published in 1950, a year after 1984, during the 2nd red scare, the “mad men” era of Wall St. & Madison Ave. I can see why this book was banned. It didn’t mention evil communism, but it described the lead up to the current business situation in 1950. During the same time frame the author was engaged in his duties, the rat lines were fully operational.
Getting through the descriptive minutia of the day to day process , names and dates , tedious analysis on data, paid off in the end. The last few chapters told what happened and warned what was coming to America.
Getting through the descriptive minutia of the day to day process , names and dates , tedious analysis on data, paid off in the end. The last few chapters told what happened and warned what was coming to America.
December 30, 2022
A fascinating piece of lore that subverts simplistic conventional narratives about US heroism during World War II. Truly a missing piece of the puzzle regarding American 20th century history.
December 14, 2017
Wow! What a Book
The tale this book tells was totally unknown to me. I had no idea. I've studied WWII, but never really came across this tie-in to the Nazis and U S industry. Quite an education. This Forbidden Bookshelf series is now on my reading list. I have read a book in this series before, never realizing the knowledge to be mined here. Now I know.
The tale this book tells was totally unknown to me. I had no idea. I've studied WWII, but never really came across this tie-in to the Nazis and U S industry. Quite an education. This Forbidden Bookshelf series is now on my reading list. I have read a book in this series before, never realizing the knowledge to be mined here. Now I know.
August 15, 2022
This book is not for casual readers; in fact it reads like the documentary that it is. At times laboriously detailed, but very informative. Golly, who knew that American corporations put profits ahead of patriotism (some of which are still operational today)?
July 11, 2025
A very informative book, with very similar actions with the Trump oligarchy
Displaying 1 - 6 of 6 reviews