“I think back with much satisfaction to the work in the Ministry of Economics which afforded me the opportunity to assist in the rearmament of the German people in the most critical period, not only in the financial but also in the economic sphere. I have always considered a rearmament of the German people as condition sine qua non of the establishment of a new German nation.” (EC-257)
In a letter written to General Von Blomberg, on 8 July 1937, Schacht wrote:
“The direction of the war economy by the plenipotentiary would in that event never take place entirely independent from the rest of the war mechanism but would be aimed at accomplishment of the political war purpose with the assistance of all economic forces. I am entirely willing, therefore, to participate in this way in the preparation of the forthcoming order giving effect to the Defense Act.” (EC-252)
In the spring of 1937, Schacht participated with representatives of the three branches of the armed forces in “war games in war economy” at Godesberg. A report of these exercises, entitled “War economy tasks in Godesberg undertaken by General Staff between the 25th of May and the 2nd of June,” records the speech welcoming Dr. Schacht:
“Before I start with the discussion of the war game in war economy, I have to express how grateful we all are that you, President Dr. Schacht, have gone to the trouble personally to participate in our final discussion today despite all your other activities. This proves to us your deep interest in war economy tasks shown at all times and your presence is renewed proof that you are willing to facilitate for us soldiers the difficult war-economic preparations and to strengthen the harmonious cooperation with your offices.”
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“I want to point out, however, that all matters and all information received has to be kept in strictest secrecy * * *.” (EC-174)
The annexation of Austria was apparently a goal which Schacht had long sought, for in a speech to the employees of the former Austrian National Bank he declared:
“* * * Austria has certainly a great mission, namely, to be the bearer of German culture, to insure respect and regard for the German name, especially in the direction of the southeast. Such a mission can only be performed within the Great German Reich and based on the power of a nation of 75 millions, which, regardless of the wish of the opponents, forms the heart and the soul of Europe.”
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