Hjalmar Schacht Quotes

Hjalmar Horace Greeley Schacht was a German economist, banker, centre-right politician, and co-founder in 1918 of the German Democratic Party. He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic. He was a fierce critic of his country's post-World War I reparation obligations.

He served in Adolf Hitler's government as President of the National Bank 1933–1939 and became Minister of Economics .

While Schacht was for a time feted for his role in the German "economic miracle", he opposed Hitler's policy of German re-armament insofar as it violated the Treaty of Versailles and disrupted the German economy. His views in this regard led Schacht to clash with Hitler and most notably with Hermann Göring. He was dismissed as President of the Reichsbank in January 1939. He remained as a minister without portfolio, and received the same salary, until he was fully dismissed from the government in January 1943.In 1944 Schacht was arrested by the Gestapo after the assassination attempt on Hitler on 20 July 1944, because he allegedly had had contact with the assassins. Subsequently, he was interned until the end of the Third Reich in the concentration camps Ravensbrück and later at Flossenbürg. In the last days of the war, he was one of the 134 special and clan prisoners who were transported by the SS from Dachau into the "Alpine Fortress" to Niederdorf in South Tyrol, where they were freed on 30 April 1945.Despite this, he was tried at Nuremberg, but was fully acquitted.

In 1955, he founded a private banking house in Düsseldorf. He also advised developing countries on economic development. Wikipedia  

✵ 22. January 1877 – 3. June 1970
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Hjalmar Schacht: 9   quotes 1   like

Famous Hjalmar Schacht Quotes

“It has been shown that, in contrast to everything which classical national economy has hitherto taught, not the producer but the consumer is the ruling factor in economic life.”

As quoted Nazi Conspiracy and Aggression (1946) by the United States Department of State, Vol. 2, p. 746.

“Colonies are necessary to Germany. We shall get them through negotiation if possible; but if not, we shall take them.”

As quoted in Trial of the Major War Criminals Before the International Military Tribunal (1947) by the International Military Tribunal, Vol. 5, p. 134.

“The Jews must realize that their influence in Germany has disappeared for all time. We wish to keep our people and our culture pure and distinctive, just as the Jews have always demanded this of themselves.”

Speech in Koenigsberg (18 August 1935), as quoted in The Trial of the Germans : An Account of the Twenty-Two Defendants Before the International Military Tribunal at Nuremberg (1997) by Eugene Davidson, p. 235.

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