Word: funke
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Economic Affairs: Dr. Walther Funk...
Minister of Economics Walther Funk, pudgy successor to Hjalmar Horace Greeley Schacht as president of the Reichsbank, whose tough job it will be to step up German economy to meet its wartime needs...
...then he had a talk with German Foreign Minister Joachim von Ribbentrop about "fateful problems," from which he came away "very depressed." By the time he had reached Oslo, he was in a towering funk. "My impressions of Europe are terrifying. . . . Europe is drifting toward war. . . . America will go to war ... if the British Fleet is defeated. . . . I believe we can expect war at any moment. . . . August...
Five years ago, to dissipate the blue funk into which collectivization had thrown the peasantry, each farm worker was granted his own small private piece of land on which he might raise a few cows, pigs, fruit, vegetables. The decree provided that the garden plots must adjoin the owner's cabin. Because in many villages houses are crowded close together, this stipulation could not always be followed, and the private plots in many cases were well away from the village, scattered around the collective fields. The peasants have worked like demons on their tiny pieces of private property...
Recent replacement of Schacht by Dr. Funk as Reichsbank head has revived talk in U. S. newspapers of internal German inflation. Proponents of Nazi economic methods argue, however, that "inflation" is a word that has no meaning in relation to Nazi finance. The Nazis have, almost from the beginning, supplemented tax receipts by debt-creation" through forced loans. With the "secret" debt added to the acknowledged public debt of 40,000,000,000 marks, the total Government deficit may be as high as 54,000,000,000 marks. But prices #151;the popular measure of inflation- have not risen markedly...