Word: schacht
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Unimpressed by boycotts, irascible Hjalmar Schacht, the Reichsbank's president, last week gave the members...
...threats. Much of Germany's commercial borrowings, he said, have gone not into German business, but directly to pay reparations. "The entire conglomeration of political obligations," he declared, "weighs like a mountain on international trade." On the theory that all Germany's outstanding debts are political, President Schacht concluded that "an attempt must be made to reach an agreement," i. e. to cancel them all or in part...
...effect Dr. Hjalmar Schacht, autocratic President of the Reichsbank, has cut the interest payments on German bonds held in the U. S. by refusing to let the full amount of payment be transferred out of Germany. Switzerland and Holland, by agreeing to increase their imports of German goods, have received full and preferential interest transfers. As for Adolf Hitler, one of his war cries has been against the iniquity of "interest slavery," the payment of interest being tainted in his mind with a stigma not unlike that attached by President Roosevelt to hoarding. So hot grew the squabbling...
...Hjalmar Schacht, ramrod-backed, high-collared Governor of the Reichsbank, rose for Germany (which went through the world's worst inflation) to snap, with obvious reference to the U. S., "Some countries have deliberately abandoned stable currency, trying to influence economic conditions by monetary experiments. However deeply we regret this, we cannot deny a sovereign state the right to do what it likes...
...getting so I don't recognize it any more. We may get somewhere-I hope we do-but I'm no bleating optimist any more!" "We Cannot Participate!" With the chief Continental delegates mostly back on the Continent (where Germany's blunt Dr. Hjalmar Schacht said last week that the motto of future conferences ought to be "No More Chatter!") a real issue developed in London between the Mother Country and her Dominions...