Word: reichsbanker
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White-hot rage against the "Iron Man" flamed up in the French press last week, when Dr. Schacht as president of the German Reichsbank raised its discount rate from 6½% to 7½%. The inference drawn excitedly in Paris was that the Reichsbank w?s trying to give the impression that German finances are already overstrained and cannot bear even the present reparations burden...
...Reichsbank raised the discount rate from 6 1-2 to 7 1-2 per cent yesterday, according to reports from Berlin. This is declared to be an attempt, belated say the French, to check the outflow of gold from Germany which has been going on with increasing strength since the bank rate was lowered from 7 to 6 1-2 per cent, in January...
...money. Still, to a really potent babe (born yesterday and with 58 years in which to grow up paying on the installment plan), even $466 or 1,957 gold marks may not seem onerous. Certainly nothing plaintive was said last week by Dr. Hjalmar Schacht, President of the Reichsbank and chief of the German delegation at Paris. Emerging from the secret session at which the $28,000,000,000 bill was presented, Dr. Schacht merely roared at correspondents: "Neither the figures nor the conditions are acceptable to Germany! We would rather-far rather-remain under the Dawes Plan!" Later Germany...
Courage to tell the foremost financiers of the Great Powers that they resemble a gang of shady horse-traders is possessed by Dr. Hjalmar Schacht, the famed "Iron Man" who is President of Germany's Reichsbank. Today he represents the Fatherland on the Second Dawes Committee in Paris (TIME, Jan. 14 et seq.) which is trying to revise the Dawes Plan and decide how much Germany must eventually pay in reparations. Last week the "Iron Man" found himself deadlocked with the delegates of the Great Powers, who include John Pierpont Morgan. Result: Dr. Schacht, who fears not even Wall...
...Berlin florid Minister of Finance Rudolph Hilferding hastily assembled an informal and secret conference of richest Junkers and tycoons to confer with the tall, imperious president of the Reichsbank when he arrived. In the Fatherland, where such an assemblage represents the colossal vested interests of a score of banking and industrial trusts, it does not take long to sound out the opinions of ''big business." Therefore after only the briefest conference, "Iron Man" Hjalmar Schacht boarded the Nord Express for Paris, appearing to be, as usual, somewhat less gracious and communicative than a snapping turtle...