JACOB SCHIFF FUNDS JAPAN & RUSSIA
Korean General Jong Sik Park notes that Schiff funded Japan in its war on Russia. What he didn't note is that Schiff also funded Lenin and Trotsky in their bloody overthrow of Christians in Russia.
THE BRITANNICA STORY
Schiff, Jacob H(enry) Encyclopï¿½dia Britannica Article
born , Jan. 10, 1847, Frankfurt am Main died Sept. 25, 1920, New York City
American financier and philanthropist. As head of the investment banking firm of Kuhn, Loeb, and Company he became one of the leading railroad bankers in the United States, playing a pivotal role in the reorganization of several transcontinental lines around the turn of the 20th century.
Schiff was educated in Germany and emigrated to the United States in 1865, settling in New York and becoming a U.S. citizen in 1870. In 1875 he married the daughter of Solomon Loeb, then head of Kuhn, Loeb, and Company, and joined the firm promptly thereafter. Schiff took charge of the company in 1885 upon Loeb's death.
In 1897 Schiff attained considerable prestige in banking circles when he provided the financial backing that enabled railroad magnate Edward H. Harriman to purchase control of the bankrupt Union Pacific Railroad. Later he was a major figure in the protracted but ultimately inconclusive struggle for control of the Northern Pacific, backing Harriman against James J. Hill and his banker, J.P. Morgan. The struggle brought about the stock market panic of 1901, and the warring factions agreed to a compromise, banding together to form the Northern Securities Company. The legality of the new firm was challenged, however, by President Theodore Roosevelt under the anti-trust laws, and the Supreme Court ordered the company dissolved in 1904. Schiff's banking firm also arranged numerous other transactions involving major railroads throughout the country, most notably the Pennsylvania Railroad. Through Kuhn, Loeb, and Company he played a central role in securing $200,000,000 in loans for Japan in the United States in 1904 during the Russo-Japanese War, for which he was subsequently decorated by the emperor of Japan.
In his later years Schiff increasingly turned his attention to charity. He was said to have contributed to nearly every Jewish and many nonsectarian charities in New York, as well as to Harvard and Cornell universities and the American Red Cross.
THE REAL STORY
During this visit to Japan, Jacob Schiff met with with Takahashi at Japan Jung Ang Bank who he allegedly loaned one billion pounds at an interest rate of 6% in order to fight the Russo-Japanese War.
KARENNA GORE WEDS ANDREW
The life of Jacob Schiff (18471920), banker, financier, and leader of the American Jewish community from 1880 to 1920, is in many ways the quintessential story of an immigrants success in America. Born in Frankfurt in 1847, Schiff worked in several financial firms in Germany and the US before accepting a position at the New York banking firm of Kuhn, Loeb & Company in 1875 and settling for good in America.
Part of a wealthy and powerful German Jewish circle that included the Warburgs and Rothschilds, Schiff played a central role in shaping American and European Jewish history. From his base on Wall Street, he was the foremost Jewish leader in what became known as the Schiff era, grappling with all major issues and problems of the day, including the plight of Russian Jews under the czar, American and international anti-Semitism, care of needy Jewish immigrants, and the rise of Zionism. Based on a broad range of primary sources, Naomi W. Cohens study emphasizes the role Schiff played as the preeminent leader of American Jewry at the turn of the century. http://www.dartmouth.edu/acad-inst/upne/f99_jacsch.html
Jacob Henry Schiff