In 1918, then-U.S. Ambassador to Turkey Henry Morgenthau wrote: "The Armenians are not the only subject people in Turkey which have suffered from this policy of making Turkey exclusively the country of the Turks. The story which I have told about the Armenians I could also tell with certain modifications about the Greeks and the Syrians. Indeed, the Greeks were the first victims of this nationalizing idea."
In May 1939, when unemployment surpassed 20 percent, then-Secretary of the Treasury Henry Morgenthau said: "We have tried spending money. We are spending more than we have ever spent before and it does not work. I say after eight years of this administration, we have just as much unemployment as when we started — and an enormous debt to boot,"