The internationalism of the Warburgs is no longer in doubt, and cannot be denied. Felix Warburg hung on to the Hamburg connection longer than did Paul, but the breakage of either was probably perfunctory. At the time that Felix left the Hamburg firm of his brother, Max, a Mr. Stern also left the Frankfort firm of Stern, and both became very active on the Allies side, taking sides against the German nation as lustily as anyone could. “Impossible!” say those who fancy that a German Jew is a German. Not at all impossible; the Jew’s loyalty is to the Jewish nation; what the Jew himself refers to as his “cover nationality” may count or not as he himself elects. This statement is always met with frothing wrath by the Jews’ “gentile fronts” in the purchased pro-Jewish press. But here is an example: Do you remember “The Beast of Berlin,” that lurid piece of war propaganda? You did not, perhaps, know that its producer was a German Jew, Carl Laemmle. His German birth did not prevent him making money out of his film, and his film does not prevent him annually going back in state to his birthplace. This year he goes accompanied by Abe Stern, his treasurer; Lee Kohlmar, his director; and Harry Reichenbach—a list of names duplicable in any movie group. Messrs. Stern and “Warburg, of Frankfort and Hamburg, respectively, and away from home perhaps only temporarily, were not concerned about the fate of the “Huns,” but they were immensely concerned about the fate of Jewish money power in Germany. To indicate how blind the public has been to the inter-allied Jewish character of much of the world’s important international financial activity, note this from the _Living Age_ earlier in the year: “According to the _Svensk Handelstidning_, the recent American loan of $5,000,000 to Norway was really the outcome of an agreement between the Hamburg firm of Warburg & Company and the New York bankers, Kuhn and Loeb. It is regarded as a significant sign of the times that a German firm should be responsible for an American loan to a neutral country. The conditions subject to which this money was borrowed, are not regarded as very favorable to Norway, and no marked effect on the rate of exchange between the two countries has followed.” Note, in the light of all the statements made about Kuhn, Loeb & Company, and the Warburgs in particular, the assumption in the above quotation that the transaction was really between a German and an American firm. It was principally an arrangement between the Warburgs themselves in family counsel. But the loan will pass in Norway as “_an American loan_,” and the fact that the terms of the loan “_are not regarded as very favorable to Norway_” will react upon Scandinavian opinion of this country. It goes without saying that “_no marked effect on the rate of exchange between the two countries has followed_,” for that would not be the object of such a loan. The dislocation of exchange is not unprofitable.