Word: reichsbanker
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...signature of 72 German best minds-such men as Dr. Hjalmar Schacht (president of the Reichsbank), Albert Einstein (relativity), Novelist Thomas Mann (Buddenbrooks), Chancellor of Germany Hermann Miiller, Chairman Theodor Leipart of the associated German trades unions-the manifesto read: "After an epoch in which the victor states [in the War] . . . sought to force on Germany their will-an epoch in which Germany came close to the abyss-German efforts have succeeded in bringing about a revival. . . . The period of violence and one-sided dictatorship was succeeded by a period of negotiations and understanding. . . . Liberation of the Rhineland from foreign...
...died like a soldier on the field of battle, but more happily than a soldier, for he fell not in cruel struggle but in the service both of his country and mankind!" Other delegates were as meaninglessly effusive. Then spoke blunt Hjalmar Horace Greeley Schacht, famed President of the Reichsbank. Recalling the hate-pregnant past, when Belgium's Delacroix came to Berlin directly after the War as a trustee for German railway bonds and a mem ber of the commission which revised the statutes of the Reichsbank, gruff Dr. Schacht concluded with visible emotion: "I must say that...
Grumpy Dr. Hjalmar Schacht of the Reichsbank refused to tell M. Moreau what Germans to invite, put him in a quandary. Dr. Schacht was wroth at the known intention of the Allies to convene the bank charter committee in Brussels? hotbed of hostility to the Reich. Presently correspondents learned at the Bank of France that the committee would probably meet in some other city, and it was believed that Dr. Schacht would cooperate on that basis...
...plump one morning and lean the next. Such epochal movements of gold bullion are necessarily slow. All summer airplanes have been hopping off gold-laden from England. Many winged to Germany, attracted by legitimate opportunities for high return offered in the Reich, where the discount rate of the Reichsbank stood at 7½%, a potent magnet. But even more gold planes sped to France, and that was passing strange. With the Bank of France's rate at 3½%, the zeal of that institution to acquire and hold gold bullion was regarded in London as distinctly ominous. Was the explanation that France...
Facts are that last January the Reichsbank lowered its rate from 7% to 63%, "for the purpose of stimulating German trade." That desideratum was not attained. Instead the attraction of abnormally high money rates in Manhattan and other foreign capitals operated to deplete seriously the Reichsbank's gold reserve. The only possible counter-move was to raise the rate last week, and in Manhattan it had been anticipated for some weeks that Dr. Schacht would, nay must, take this step.* In Paris, however, angry editors rose above common sense, charged that the lowering of the rate last January...