THE PRESIDENT: And he put that at the top of his letter, did he?
LT. BRYSON: That I cannot say.
I will also point out that Schacht signed this letter, “With a vigorous Heil.”
We turn now to the second part of our proof, relating to Schacht’s contribution to preparation for war.
The detailed chronology of Schacht’s official career in the Nazi Government, as set forth in Document 3021-PS, has already been submitted in evidence as Exhibit Number USA-11. However, it may be helpful at the outset to remind the Tribunal that Schacht was recalled to the Presidency of the Reichsbank by Hitler on 17 March 1933, which office he continuously held until 20 January 1939; that he was Acting Minister and then Minister of Economics from August 1934 until November 1937; and that he was appointed Plenipotentiary General for War Economy in May 1935. He resigned as Minister of Economics and Plenipotentiary General for War Economy in November 1937, when he accepted appointment as Minister without Portfolio, which post he held until January 1943. His position as virtual economic dictator of Germany in the 4 crucial years from early 1933 to the end of 1936 is practically a matter of common knowledge.
Schacht was the guiding genius behind the Nazi expansion of the German credit system for rearmament purposes. From the outset he recognized that the plan for the German military supremacy required huge quantities of public credit. To that end a series of measures was adopted which subverted all credit institutions in Germany to the over-all aim of supplying funds for the military machine. I will briefly mention some of these measures.
By Cabinet decree of 27 October 1933 the statutory reserve of 40 percent in gold and foreign exchange required against circulating Reichsbank notes was permanently abandoned. By the Credit Act of 1934 the Government assumed jurisdiction of all credit institutions, and control over the entire banking system was centralized in Schacht as Chairman of the Supervisory Board for the Credit System and President of the Reichsbank. This act not only enabled Schacht to control the quantity of credit but also its use. On 29 March 1934 a system of forced corporate lending to the Reich was imposed on German business. And on 19 February 1935 the Treasury was authorized to borrow funds in any amounts approved by the Reich Chancellor, that is, by Hitler.
On these points I ask the Tribunal to take judicial notice of the Reichsgesetzblatt 1933, Part II, Page 827; Reichsgesetzblatt 1934, Part I, Page 1203; Reichsgesetzblatt 1934, Part I, Page 295; and Reichsgesetzblatt 1935, Part I, Page 198.
THE PRESIDENT: Are they found here in the document book?
LT. BRYSON: They’re not in the document book, Sir.