Hitler's Silent Partners: Swiss Banks, Nazi Gold, and the Pursuit of Justice


Award-winning journalist Isabel Vincent unravels the labyrinthine story behind the headlines: how desperate men and women tried to secure their families' futures by opening bank accounts in Switzerland; how the Nazis laundered, through Swiss banks, gold seized from the treasuries of occupied countries, much of it looted from the Jews; how the demands of international business, Swiss bank secrecy, and greed have conspired to prevent the truth from being disclosed for over half a century and still prevent ...
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Award-winning journalist Isabel Vincent unravels the labyrinthine story behind the headlines: how desperate men and women tried to secure their families' futures by opening bank accounts in Switzerland; how the Nazis laundered, through Swiss banks, gold seized from the treasuries of occupied countries, much of it looted from the Jews; how the demands of international business, Swiss bank secrecy, and greed have conspired to prevent the truth from being disclosed for over half a century and still prevent restitution. Balanced, rigorous, and often heartbreaking, this major work also gives a human face to the statistics: a crusading Toronto lawyer; Edgar Bronfman, the passionate head of the World Jewish Congress; a Swiss parliamentarian determined to discover her country's past; and Renee, a survivor waiting in the shadows for some small justice, already a little too late.
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Editorial Reviews

Library Journal
Like Tom Bower's Nazi Gold (LJ 5/15/97), this account uncovers the ties between Swiss bankers and the Nazis.
Canadian journalist fills in the history behind the headlines accusing the officially neutral Swiss of acting as secret bankers to the Nazis and keeping the money of Jews killed during the Holocaust. She offers evidence that men and women opened Swiss accounts to secure futures for their families, that the banks laundered gold Nazis had seized from the treasuries of occupied countries, and that agents of greed and international business have conspired to keep the truth hidden for 50 years and continue to resist restitution. Annotation c. by Book News, Inc., Portland, Or.
Kirkus Reviews
A journalist for Toronto's Globe and Mail details the continuing, wretched story of Swiss collusion, as financiers and dealers in stolen goods, with Nazi Germany. The story isn't simple, and the culpability extends far beyond Swiss bankers. For instance, Vincent notes that a US intelligence report from 1945 suggested that even the International Committee of the Red Cross, with headquarters in Switzerland, smuggled "Nazi assets and valuables across Europe in diplomatic pouches." A number of Swiss firms may also have worked closely (and profitably) with the Nazis. While it was known in official circles that Switzerland flagrantly abused its neutrality, its complicity was only lightly considered by the Allied victors, largely because of pragmatic realpolitik. Although Swiss banks, throughout the war, paid Germany needed foreign currency for gold bullion usurped from the central banks of conquered countries and for bars refined from the gold gathered from the ring fingers and teeth of millions of slaughtered Jews, they were not pursued by any international courts. Secret accounts established by beleaguered Jews before they disappeared were ignored, too. An amount approaching $6 billion (in current dollars) may have been involved. Only under intense international pressure, generated at first by the World Jewish Congress, have the Swiss begun, reluctantly, truculently, to open their bank records for review. Vincent provides a thorough summary of what is known about Swiss actions during and since the war, and to humanize the issue, draws on a number of interviews with individuals attempting to find out about family accounts, and especially on the efforts of the surviving descendants of AbrahamHammersmith, a Viennese textile exporter, to reclaim their past. The history of the Hammersmith family, many of whom died in the Holocaust, is a kind of record in miniature of Jewish suffering and Swiss mendacity. A clear, angry, important (though interim) work that treats significant matters with clarity and intelligence.
From the Publisher
"Gripping.... A story of unbelievable courage, creativity [and] determination." -The Globe and Mail

"One of the best [books] of its kind...rigorously researched and lucidly told." -The Canadian Jewish News

"Hitler's Silent Partners stands on its own as a compelling, well-researched and sympathetic look at a terrible tragedy." -The Financial Post

"Isabel Vincent shows how Renée's story is one of so many that got lost in the shuffle.... A thoroughly gripping tale." -The Toronto Star

"A stirring saga of one family's struggle to survive." -Publishers Weekly

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Product Details

  • ISBN-13: 9780688166311
  • Publisher: HarperCollins Publishers
  • Publication date: 1/28/1999
  • Edition number: 1
  • Pages: 351
  • Product dimensions: 5.72 (w) x 8.90 (h) x 0.98 (d)

Meet the Author

Isabel Vincent, a reporter and former Latin American bureau chief for The Globe and Mail, has been the recipient of the prestigious Southam Fellowship, and the Canadian Association of Journalists Award for Excellence. She is a contributing editor to Saturday Night and the author of See No Evil. She lives in Toronto.
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Read an Excerpt


Abraham Hammersfeld could have started preparing for the worst in the summer of 1934.

It's not that the year was particularly out of the ordinary for the Hammersfelds or any other well-to-do Viennese Jewish family. As was his custom every summer, the sixty-year-old patriarch closed down his textile business in downtown Vienna and headed with his wife, Charlotte, whom he affectionately called Lotte, to their pastoral retreat in Voslau, a small, quiet town, south of the Austrian capital, where many middle-class Viennese families whiled away the summer months, hiking along forest trails and visiting with friends. Abraham was looking forward to doing what he liked to do best on quiet days deep in midsummer: reading, dozing in his garden, and surrounding himself with his four children and five grandchildren at Villa Charlotte, the stately, two-story summer home he had named after his wife.

But one dramatic event shattered the summer stillness. Although, for most Austrians, the news came and went with the unexpected ferocity of a freak downpour on a lazy summer afternoon, it left many astute political observers imagining bigger and blacker storm clouds on the horizon.In the early evening of July 25, as Abraham relaxed with his family at the Voslau summer house, he turned on the radio to find out about the day's news and was horrified by what he heard. The voice of the reporter was breathless and sometimes difficult to make out over the static as he described how a group of more than 150 members of the National Socialist party, which was outlawed in Austria at the time, had broken into the federal chancellery in Vienna and shot Austrian ChancellorEngelbert Dollfuss in the throat at point-blank range. Over the static, Abraham heard that the Nazis had been dressed in the uniforms of the Austrian Army. Later that day Dollfuss died of his wounds, but by that time the poorly organized Nazi putsch had already failed. Austrian government forces, led by Austria's then minister of justice, Kurt von Schuschnigg, quickly took control of the situation. They arrested the rebels and later condemned thirteen of them to hang. In the days that followed the violent outburst, peace was restored, and Dr. Schuschnigg, a cultivated gentleman with impeccable Old World manners, was sworn in as Austria's new chancellor.

The events of the summer of 1934 had not come without warning. For months before the Dollfuss assassination, Austrian Nazis had terrorized the country in order to unseat Dollfuss, a fascist dictator, who had come to power amid economic instability and political turmoil in 1932. When Dollfuss took office, Austria had not yet fully recovered from its crushing defeat in the First World War, which culminated in the breakup of the Austro-Hungarian Empire and unleashed economic chaos, high inflation, and violent political confrontations among Communists, Christian Socialists, and later National Socialists or Nazis.

To keep the country together, Dollfuss, a Christian Socialist, ruthlessly cracked down on any opposition, particularly the rapidly growing Austrian Nazi party, whose members violently clamored for a political and economic union with Germany. With weapons and dynamite supplied by the ruling Nazi party in Germany, the Austrian Nazis, whose membership grew from about three hundred members to more than forty thousand in the space of three years, had blown up railways, power stations, and government buildings in their battle against the ruling Christian Socialists. The Austrian government had responded by stamping out democratic political freedoms and dealing harshly with dissidents. Under the clerical-conservative dictatorship of Dollfuss, both Nazis and Socialist workers did not escape sometimes brutal repression. For instance, in February 1934, the government targeted the Austrian Social Democrats and sent seventeen thousand government troops to fire on workers' lodgings in Vienna, killing a thousand people, many of them women and children, and wounding some four thousand others.

Although Abraham Hammersfeld was a sophisticated man who must have been acutely aware of everything that was going on around him, he had little time for politics. He tended to immerse himself in his daily life, dividing his time among his textile export business, his family, and the affairs of the small Orthodox synagogue of which he was president. But the news in the summer of 1934 must have given him pause.

"For some reason, the shooting of Dollfuss stayed in my head," says Renee, Abraham's eldest granddaughter, who was eleven years old at the time of the assassination. "It didn't mean that much to me, of course. I was a young girl on summer holidays. But I remember my grandfather constantly listening to the news on the radio, and I remember that summer as the beginning of a time when things started to get worse in Austria."

On the evening of July 25, as darkness descended and a welcome breeze tossed the embroidered curtains in the sitting room at Villa Charlotte, Abraham may have sat in his favorite chair as usual, lit a cigar, and, mulling over the day's events, made the connection with a similar putsch that had occurred while he and his son Adolf were on a business trip in Niunich eleven years earlier. On the evening of November 8, 1923, a band of Nazi thugs led by a diminutive, rathercomical-looking Austrian with a Charlie Chaplin mustache launched a daring attempt to take over the Bavarian government by ambushing Bavarian State Commissioner Gustav von Kahr at the Munich beer hall where von Kahr was scheduled to speak. The Beer Hall Putsch, as it came to be known, was a resounding failure that resulted in the outlawing of the Nazi party and the imprisonment of its rabble-rousing leader. Within a decade, that charismatic leader and his band of toughs held supreme power in Germany.

In 1933, Adolf Hitler was sworn in as chancellor of Germany, and his expansionist plans to restore the German nation to its former Teutonic glory were known to anyone who had bothered to read the first page of Mein Kampf, Hitler's ranting memoir-cum-political treatise, which after his inauguration as chancellor became a best-seller in Germany. In the first paragraph, Hitler wrote that the reunion of Austria and Germany was a "task to be furthered with every means our lives long."

Hitler officially distanced himself from the assassination of Dollfuss, calling it an internal Austrian affair. Nonetheless, it was cause for concern in Austria, foreshadowing what was to take place just four years later when German troops marched into Vienna, making Austria part of the German Reich and unleashing a campaign of terror against the country's Jews.

If they saw the storm clouds gathering as early as 1934, few well-to-do Austrian Jews of the stature of Abraham Hammersfeld started to panic. They may have thought about diversifying their financial assets, perhaps looking at investment opportunities abroad or stashing part of their savings in a foreign bank in a stable country like Switzerland. Just in case. But mostly they went about their daily lives, content in the knowledge that they were upstanding, hardworking citizens, living in one of the most civilized countries in the world.

Copyright ) 1997 by Isabel Vincent

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