(1877-01-22)22 January 1877 Tinglev, German Empire
Died
3 June 1970(1970-06-03) (aged 93) Munich, West Germany
Resting place
Munich Ostfriedhof
Political party
German Democratic Party (1918–1926)
Independent (1926–1970)
Nazi Party (1937–1943; as honorary member)
Spouses
Luise Sowa
(m. 1903; died 1940)
Manci Vogler
(m. 1941)
Children
Cordula Schacht[1]
Education
University of Munich University of Leipzig University of Berlin University of Paris Kiel University
Profession
Banker, economist
Awards
Golden Party Badge
Signature
Hjalmar Schacht (born Horace Greeley Hjalmar Schacht; 22 January 1877 – 3 June 1970, German pronunciation:[ˈjalmaʁˈʃaxt]) was a German economist, banker, politician, and co-founder 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 reparations obligations. He was also central in helping create the group of German industrialists and landowners that pushed Hindenburg to appoint the first NSDAP-led government.
He served in Adolf Hitler's government as President of the Central Bank (Reichsbank) 1933–1939 and as Minister of Economics (August 1934 – November 1937).
While Schacht was for a time feted for his role in the German "economic miracle", he opposed elements of Hitler's policy of German re-armament insofar as it violated the Treaty of Versailles and (in his view) disrupted the German economy. His views in this regard led Schacht to clash with Hitler and most notably with Hermann Göring[citation needed]. He resigned as President of the Reichsbank in January 1939. He remained as a Minister-without-portfolio, and received the same salary, until he left the government in January 1943.[2]
In 1944, Schacht was arrested by the Gestapo following the assassination attempt on Hitler on 20 July 1944 because he allegedly had contact with the assassins. Subsequently, he was interned in the concentration camps and later at Flossenbürg. In the final days of the war, he was one of the 139 special and clan prisoners[a] who were transported by the SS from Dachau to South Tyrol. This location is within the area named by Himmler the "Alpine Fortress", and it is speculated that the purpose of the prisoner transport was the intent of holding hostages. They were freed in Niederdorf, South Tyrol, in Italy, on 30 April 1945.[4]
Schacht was tried at Nuremberg, but was acquitted despite Soviet objections. Later, a German denazification tribunal sentenced him to eight years of hard labour, which was also overturned on appeal.
^Alberge, Dalya (18 April 2015). "Random House told it should pay to quote Joseph Goebbels in biography". The Guardian. London, UK. Retrieved 16 May 2015.
^Richard J. Evans, The Third Reich in Power 1933–1939. Penguin Books. ISBN 978-1-59420-074-8. p. 153, states that he had no role in government during World War II which is untrue[citation needed].
^Schlingensiepen, Ferdinand (2010). Dietrich Bonhoeffer 1906-1945: Martyr, Thinker, Man of Resistance. A&C Black. p. 372. ISBN 9780567217554. Petropoulos, Jonathan (2008). Royals and the Reich: The Princes Von Hessen in Nazi Germany. Oxford University Press. p. 286. ISBN 9780195339277.
^Peter Koblank: Die Befreiung der Sonder- und Sippenhäftlinge in Südtirol. Online-Edition Mythos Elser 2006.
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HjalmarSchacht (born Horace Greeley HjalmarSchacht; 22 January 1877 – 3 June 1970, German pronunciation: [ˈjalmaʁ ˈʃaxt]) was a German economist, banker...
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