Word: schacht
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Dates: during 1930-1939
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Ministers without Portfolio: Dr. Hanns Frank, Dr. Hjalmar Schacht...
Minister of Economics Walther Funk, pudgy successor to Hjalmar Horace Greeley Schacht as president of the Reichsbank, whose tough job it will be to step up German economy to meet its wartime needs...
...powerful, grasping, he began to formulate the financial policies of nations and to get fat. At one time he worked simultaneously for the German, Austrian, Czech, Polish, Hungarian, Yugoslav and Rumanian Central Banks. Twice he turned down the presidency of the German Reichsbank, the second time proposed Dr. Hjalmar Schacht in his place. Schacht got the job. He began to buy antiques-among them the valuable Eucharistic Dove stolen from Salzburg's Cathedral. He was too skeptical to have any truck with Ivar Kreuger or any private financier. His was the last Jewish-owned bank allowed to do business...
...which all but made Rumania an economic dependency of the Third Reich. Forty-four-year-old Dr. Wohlthat was a wanderlusty young man who sought his fortune in the U. S. and Mexico, married a German girl living in Philadelphia, was recalled to Germany in 1933 by Dr. Hjalmar Schacht, the German financial wizard who was then beginning to steer the Third Reich into the economics of barter dealing and autarchy. Helmuth Wohlthat quickly rose in power and position until he became Field Marshal Hermann Göring's chief foreign exchange expert. Since last year he has controlled...
...twenties Jeidels, as boss of Germany's No. 1 investment bank, the Berliner Handels Gesellschaft. was one of Schacht's closest cronies. No chain store bank with a branch on every other street corner was the Handels Gesellschaft. Only the biggest of big businesses were its customers, and they went to it in Berlin...