
Henry Morgenthau From Who was Who in World War II, John Keegan, Ed.,
Bison Books, Greenwich, Connecticut, 1984, p. 150.
Morgenthau, Henry, 1891-1967
Morgenthau was President Roosevelt's Secretary of the Treasury from
1934 until the end of the war. During the war his one overriding task
was to finance a mammoth war economy and war production without
prompting correspondingly great inflation. This he did by maintaining
high taxes and by selling Defense (later called 'War') Savings Bonds.
Morgenthau was also responsible for the freezing of Japanese assets
before the war in the Far East and for organizing economic measures
against the Axis Powers. He also put the Lend-Lease Program into
operation.
At the Quebec Conference of September 1944 Morgenthau put forward a
plan to settle the long-disputed fate of postwar Germany. The
Morgenthau Plan advocated enforcing agrarianism on Germany, in which
most industry would be dismantled and the sites turned into arable
land. This plan actually had the support of Churchill and Roosevelt
but not of their Cabinets. Thus when the plan was leaked to the public
they abandoned it quickly. The fact that Morgenthau was a Jew allowed
Goebbels to use both him and his plan for anti-Allied propaganda -- a
warning to Germans of what would happen should Germany surrender.
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