“(2) In order to carry out these measures effectively, full financial control over all public expenditures must be restored to the Reich Minister of Finance.
“(3) The price and wage control must be rendered effective. The existing mismanagement must be eliminated.
“(4) The use of the money and investment market must be at the sole discretion of the Reichsbank.”
It is clear that Schacht’s fear was genuine and is a complete explanation for his departure from the scene. He had good reason to be afraid. In fact, the Finance Minister had already recognized the situation in September 1938. I refer the Tribunal to Document EC-419, Exhibit Number USA-621, which I have already submitted in evidence and which consists of a letter under date of 1 September 1938 from Krosigk to Hitler, in which Krosigk warns of an impending financial crisis. I quote from the bottom of Page 2.
THE PRESIDENT: Is that not really cumulative of what you have already read?
LT. BRYSON: We will be glad to skip it, Sir. It is cumulative.
Schacht was not only afraid of a financial crisis, but he was afraid that he personally would be held responsible for it. I offer in evidence an affidavit of Emil Puhl, a director of the Reichsbank and co-worker of Schacht, dated 8 November 1945, designated as Document EC-438, Exhibit Number USA-646, and I read therefrom, beginning at the bottom of the second page: