Olof Aschberg in New York, 1 9 1 6

The last line of lhe Lansing cable as wriuen, was nm transmiued lO Petrograd. The line read: "Cannot arrangements be made lO send these messages through Russian channels?"

How can we assess these cables and the parries involved?

Clearly the Morgan-Rockefeller interests were nol interested in abiding by international law. There is obvious intent in lhese cables to supply loans lo belligerents. There was no hesitation on the parl of these firms lo use Stale Department facilities for the negotiations. Funher, in spile of protests, the Stale Department allowed the messages lO go through. · Finally, and most interesting for subsequent events, Olof Aschberg, the Swedish banker, was a prominent panicipam and intermediary in the negotiations on behalf of Guaranty Trusl. Lel us therefore take a closer look al Olof Aschberg.

OLOF ASCHBERG IN NEW YORK, 1916 Olof Aschberg, the "Bolshevik Banker" (or "Bankier der Wehrevolulion," as he has been called in the German press), was owner of the Nya Banken, founded 1912 in Stockholm. His codireclors included prominent members of Swedish cooperatives and Swedish socialists, including G. W. Dahl, K. G. Rosling, and C. Gerhard Magnusson.t8 In 1 9 1 8 Nya Banken was placed on lhe Allied blacklist for its financial operations in behalf of Germany. In response lo the blacklisting, Nya Banken changed its name lo Svensk Ekonomiebolagel. The bank remained under the comrol of Aschberg, and was mainly owned by him. The bank's London agenl was the British Bank of Nonh Commerce, whose chairman was Earl Grey, former associate of Cecil Rhodes. Others in Aschberg's interesting circle of business associates included Krassin, who was until the Bolshevik Revolution (when he changed color lo emerge as a leading Bolshevik) Russian manager of Siemens-Schuken in Pelrograd; Carl Furstenberg, minister of finance in lhe first Bolshevik government; and Max May, vice president in charge of foreign operations for Guaranty Trust of New York. Olof Aschberg thought so highly of Max May that a photograph of May is included in Aschberg's book.19

18. Olof Aschberg, En Vandrande jude Friin Glasbrultsgatan (Stockholm: Alben Bonniers Forlag, n.d.), pp. 98-99, which is included in Memoarer (Stockholm: Albert Bonniers Forlag, 1 946). See also Giistbohen (Stockholm: Tidens Fbrlag, 1955) for further material on Aschberg. 19. Aschberg, p. 1 23.

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