Word: schacht
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Ever since he resigned as President of the Reichsbank, stiff-starched Dr. Hjalmar ("Iron Man") Schacht has been posturing and talking as though he were still Germany's "financial spokesman." Throughout the world last week, holders of the so-called ''Young Plan Bonds" (German Government 5½s) winced when Dr. Schacht answered in Stockholm a smart Swedish reporter's question...
...What would you do about German Reparations, Dr. Schacht, if you were Dictator of Germany...
...Tomorrow morning at 8 o'clock," snapped Dr. Schacht, "I should refuse to pay even one pfennig more...
...spoke Dr. Hjalmar Schacht, famed "Iron Man," still by common consent a spokesman for German finance, although resigned as Governor of the Reichsbank...
...Unless the Disarmament question, over which the United States is greatly concerned, is settled satisfactorily, the Americans will not lift a finger to help Europe further." It was clear from Dr. Schacht's other remarks that he meant by "helping Europe" a voluntary scaling down by the U. S. of what the Allies owe in War debts, thus permitting them to scale down what Germany owes them under the Young Plan. "The Americans are the only people," continued Dr. Schacht warmly, "to whom Germany may look for some possible initiative toward revision of the Young Plan...