Word: schacht
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...Schacht Solution, which the shareholders themselves will have to approve on Feb. 15 for it to become effective, was called in Berlin fiscal circles last week "eminently fair...
Last week dramatic Dr. Hjalmar Schacht, President of the Reichsbank, announced to reporters in his home, which occupies the top floor of the Bank Building (he walks up three flights) that he has solved the problem...
Today the Reichsbank stock with its 8% plus is speculative. Dr. Schacht proposes to give it almost the stability of a bond by substituting for 8% plus a flat 12%. In lean years this 12% dividend would be maintained by drawing on the Reichsbank's large reserve, which up to now has absorbed 20% per annum of the profits. Under the Schacht Solution only 10% instead of 20% would go into the reserve fund, and after deducting 12% for the guaranteed stockholder's dividend almost the whole remaining net profit would be turned over to the German Treasury. Estimators figured...
...Catholic Centre Party, which holds a key position in the German Government coalition, draws its strength chiefly from voters in the Rhineland, and these were in a ferment of fear last week lest the "new" and "immoral" Young Plan conjured up by Dr. Schacht should give France the right to reoccupy the Rhineland in case Germany defaults on her Reparations payments...
Foes of Dr. Schacht accused him of playing the grossest sort of politics, of fostering fear as a means of grooming himself for election to succeed president Paul von Hindenburg. "So-I am accused of 'playing politics!' " said smart Dr. Schacht, unruffled. "If what I did was playing politics, then let me say I most heartily welcome the injection of moral factors into politics-they need...