162

p.2. "Duplicate bonds amounting to 2314 pairs and duplicate coupons 

amounting to 4698 pairs

ranging in denominations from $50 to $10,000 have been redeemed to 

July 1, 1924. Some of

these duplications have resulted from error and some from fraud."

These investigations may explain why, at the end of World War One, 

Eugene Meyer was able to buy control of Allied Chemical and Dye 

Corporation, and later on, the nation’s most influential newspaper, The 

Washington Post. The duplication of bonds, "one for the government, 

one for me" in denominations to the amount of $10,000 each, resulted 

in a tidy sum.

p. 6 of these Hearings. "These transactions of the Treasury prior to June 

20, 1920 (including 

 

 

 

 

 

settlements for purchases and sales), executed by 

the War Finance Corporation (Eugene Meyer, managing director), 

were largely directed by the managing director of the War Finance 

Corporation, and settlements with the Treasury were made principally 

by him with the Assistant Secretary of the Treasury, and the books show 

that the basis of the price paid by the Government for over $1,894 

millions worth of bonds ($1,894,000,000.00), which the Treasury 

purchased through the War Finance Corporation was not the market 

price and was not the cost of the bond plus interest, and the elements 

entering into the settlement are not disclosed by the correspondence. 

The managing director of the War Finance Corporation stated that he 

and an Assistant Secretary of the Treasury (Jerome J. Hanauer, partner 

of Kuhn, Loeb Co. whose daughter married Lewis L. Strauss) agreed to 

the price, and it was simply an arbitrary figure set by an Assistant 

Secretary of the Treasury as to the bonds so purchased by the War