Word: reichsbanker
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Dates: during 1930-1939
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Only one German felt strong enough to drive a bargain last week with Chancellor Hitler (see above). The bargain: Monkish little Dr. Hans Luther (twice Chancellor, 1925, 1926) agreed to resign as President of the Reichsbank if Chancellor Hitler would appoint him on the spot Ambassador to Washington. Both men scrupulously kept their word...
Intuitive Herr Hitler appointed as the new President of the Reichsbank perhaps the greatest prophet of modern times. Dr. Hjalmar Horace Greeley Schacht, "that tough Schleswiger from the Town of Tinglev" (in Denmark) whose parents resided in Brooklyn until shortly before his birth, when they removed to Germany...
...Schacht, then President of the Reichsbank and famed for his success in stabilizing the German mark in 1924 at its present gold value, predicted catastrophe if U. S. and other foreign loans continued to pour into Germany, did what he could (not much) to stem the flood...
...measures undertaken to cope with her internal difficulties, as well as in her adjustments to external developments," concluded Chairman Wiggin & Committee, "Germany has shown impressive results. These have come not only from the effectiveness of the plans themselves, but also from the steady co-operation of the Government, the Reichsbank and the business community. Underlying all has been the continued support by the masses of the people, who, schooled in bitter experience, willingly support a program which negatives any cheapening of the currency or any impairment of the gold basis of that currency...
Lest the world grow too optimistic about German prospects, blunt Dr. Hans Luther, President of the Reichsbank, cautioned citizens of Frankfurt-am-Main last week...