SCHACHT: In this connection I recall a conversation with Ambassador Bullitt in November 1937. This conversation with Ambassador Bullitt has already been mentioned in some other connection, and Ambassador Bullitt’s memorandum has been presented in evidence to the Tribunal by the Prosecution. I merely refer to the sentence which refers to me, and I quote:
“He”—that is to say Schacht—“prefaced his remarks by saying that he himself today was ‘completely without influence on that man’ ”—meaning Hitler. “He seemed to regard himself as politically dead and to have small respect for ‘that man.’ ”
That was said in November 1937. But if I am permitted to add to this, I want to point out that my foreign friends were kept constantly informed about my position and my entire activity as regards the directing of public affairs in Germany, as I have already mentioned once before. This will be seen on later occasions when various instances are mentioned.
DR. DIX: This morning I submitted Exhibit Number Schacht-22, Page 64 of the English text.
[Turning to the defendant.] And now a few special questions regarding your position as Minister of Economics. You have already made statements regarding the obtaining of foreign raw materials, that is, you have quoted appropriate passages. Could these not be substituted by home products in your opinion?
SCHACHT: A portion of such raw materials could certainly be replaced by home products. We had learned in the meantime how to produce a large number of new materials which we did not know about before...
DR. DIX: Please be brief.
SCHACHT: ...to produce them synthetically. But a considerable part could not be replaced in that way and could be obtained only through foreign trade.
DR. DIX: And what was your attitude towards the question of self-sufficiency?
SCHACHT: As far as self-sufficiency was concerned I believe that, if at a reasonable cost, without undue expenditure, which would have meant a waste of German public funds and German manpower, certain synthetic materials could be produced in Germany, then one should do so, but that apart from this the maintenance of foreign trade was an absolute necessity for economic reasons, and that it was even more necessary for reasons of international cultural relations so that nations might live together. I always regarded the isolation of nations as a great misfortune, just as I have always regarded commerce as the best means of bringing about international understanding.