Hjalmar von Schacht

From Citizendium
Revision as of 17:55, 29 December 2010 by imported>Howard C. Berkowitz
Jump to navigation Jump to search

Hjalmar von Schacht was president of the Reichsbank during the rearmament of Germany, resigning in 1930, before the Nazis took power. In 1934, he returned to the post and also became Minister of the Economy, but resigned again in 1939, as an opponent of Hermann Goering's economic policies. He is credited with using military spending to bring much of he German hyperinflation under control.

Imprisoned in Dachau Concentration Camp on suspicion in the 20th of July plot against Adolf Hitler, he was still tried by the International Military Tribunal (Nuremberg), acquitted, tried by German courts, and eventually winning an appeal in 1948.