Word: reichsbanker
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...high "V"-split collar like that of Charles Gates Dawes. A Theodore Roosevelt pince-nez. Such are the two foibles of dress affected by President Dr. Hjalmar Schacht of the German Reichsbank. There was a dash of Roosevelt and more than a tang of Dawes in certain words spoken by Dr. Schacht, last week, which caused prices on the Berlin Bourse to break and go crashing down harder and lower than at any time since...
...none the less Dr. Schacht brought about the crash, He called the leading German banking representatives into his office and informed them quietly that they had lent too much money to speculative market operators. This condition could not be remedied, as would ordinarily be the case, by raising the Reichsbank rate, because Dr. Schacht put the rate down from 6% to 5% last January, and considers that level necessitously expedient for reasons affecting his defense of the gold mark.* As a result there remained not sufficient sums at the disposal of individuals desiring to borrow for productive enterprise. Therefore...
...assumption of responsibilities public in their character." Last week they persuaded Gates W. McGarrah to take the job by May 7. Before then he must resign as chairman of the executive committee of the Chase National Bank, as U. S. member of the General Council of the German Reichsbank, and all other business affiliations. His pay for all this will be $16,000 yearly...
...great news agencies tarried not to investigate but broadcast this roundest of round robins as fast as cable relays could click. Local editors in every capital hastily picked a financier of foreign nationality as the documents' author. British editors picked signatory Hjalmar Schacht, President of the German Reichsbank. Germans favored signatory Montagu Norman,*** Governor of the Bank of England. Frenchmen were sure that signatory John Pierpont Morgan was at the bottom of the woodpile...
...Thomas W. Lamont, potent Morgan partner, not a signatory, declared that the manifesto has been in circulation among international financiers for some time. Wall Street supplied the rumor that it took final form when Montagu Norman, Governor of the Bank of England, and Dr. Schacht, President of the German Reichsbank, conferred with Benjamin Strong, Governor of the Federal Reserve Bank of New York, at Antibes, French Riviera (TIME, Aug. 30). Of these three fiscal tycoons only Dr. Schacht would comment last week: "The manifesto is connected closely with the recent conference of German and British industrialists in England [TIME...