Word: reichsbanker
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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...
...banking systems of the world met in 1930 to complete the Young Plan, prophesying that it would work in statements so unequivocal that $300,000,000 worth of Young Plan Bonds (German Government 5½%) were eagerly bought by the world public, Prophet Schacht resigned as President of the Reichsbank to emphasize his prophecy that the Young Plan would not work...
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...