Word: reichsbanker
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...Little Man. He begged everyone please to be friends and patched up a tea party in the Ministry of Propaganda at which Dr. Goebbels and Lieut.-Colonel von Papen sipped at each other with wolfish smiles while the world in general was defied to collect what Germany owes by Reichsbank President Dr. Hjalmar Schacht...
With his back to the wall of Germany's new moratorium (TIME, June 18), Dr. Hjalmar Schacht, iron-willed President of the Reichsbank, bristled into action last week as a Briton no less stubborn took drastic steps in London to make Germany...
Next day Dr. Schacht dramatized the Reichsbank's shortage of gold and foreign exchange by decreeing that on each day hereafter no more money will be permitted to leave Germany in payment for imports than is received on that day from abroad in payment for German exports. Simultaneously Germans were deprived of the right to send private money orders abroad. In Berlin representatives of leading U. S. firms who have been greatly hampered by former exchange restrictions called Dr. Schacht's new decrees the last straw and Remington Office Machinery Co. of Berlin closed up with a bang...
...Wall St. "The former Agent General," cried Herr Hitler's mouthpiece, " bears the bulk of responsibility for foreign creditors' disappointments. . . . Germany's declaring a moratorium bespeaks an energy which Gilbert never possessed!" For his part Dr. Schacht, who works, eats and sleeps at the Reichsbank, had an elaborate thesis of accusation which he read out in the Reichsbank Central Com mittee Chamber, directly under his bed room. Drawing a deep breath for the cataract of words he was about to utter, Dr. Schacht cried: "Now that our colonies which were attaining before the War to increasing importance...
...gold dollar, closed the week at 53? on the paper dollar. Young 5½s which have brought 91 were bringing 37 paper. Dawes bonds are worth more than Young bonds because they are backed by German customs and liquor revenues, tobacco, beer and sugar taxes. Meanwhile the Reichsbank, despite fresh batches of predictions from Berlin, Paris and London that the mark must now go off gold, maintained an attitude of stubborn insistence upon its so-called "gold standard" which has long been purely theoretical, since no one can get gold for marks. "We reject absolutely a devaluation policy!" barked...