DR. DIX: I spoke before of 20 July. Do you recall a statement made by Hitler about you in connection with 20 July?
SCHACHT: Codefendant Minister Speer was present and told me about it. It was on 22 July 1944 when Hitler issued the order to his circle for my arrest. At that time he made derogatory remarks about me and stated that he had been greatly hindered in his rearmament program by my negative activities, and that it would have been better if he had had me shot before the war.
DR. DIX: To conclude I come to a few general collective questions. Voices were heard within the country, and also abroad—and even the Prosecution, although recognizing your intellectual capacities and the services you rendered, appears to consider it also—that it was incomprehensible that a man as clever as you did not recognize the true nature, the real intentions of Hitler in time. I would like you to state your position with regard to that accusation.
SCHACHT: I should like very much to have known the gentlemen who are now judging me, at a time when it might have been of use. These are the people who always know afterwards what ought to have been done before. I can only state that first of all, from 1920 until the seizure of power by Hitler, I tried to influence the nation and foreign countries in a way which would have prevented the rise and seizure of power by a Hitler. I warned the country to be thrifty but I was not heeded. I repeatedly warned the foreign nations to develop an economic policy which would enable Germany to live. I was not heeded, although as it now appears, I was considered a clever and foresighted man. Hitler came to power because my advice was not followed. The German people were reduced to great economic need and neither...
GEN. RUDENKO: Mr. President. For 2 days now we have been listening to lengthy explanations on the part of the Defendant Schacht, and I rather think that the explanations which have just been given by the Defendant Schacht are not definite answers to questions concerned with the Indictment brought against him, but mere speeches. I consider that they will only prolong the Trial.
THE PRESIDENT: Dr. Dix, the Tribunal is, I think, fully apprised with the case on behalf of Defendant Schacht. They don’t want to stop him putting forward his defense fully, but they would be glad if you could make it as short as possible and if he could make it as short as possible.
DR. DIX: My Lord, I am certain that I shall be through by the recess, and perhaps even before the recess; but I beg you to bear in mind that the defendant is accused of having assisted in the seizure of power. The question arises, how was it that...
THE PRESIDENT: I wasn’t ruling that this evidence was inadmissible. I was only asking you to get on with it as quickly as you could.
DR. DIX: Very well. Dr. Schacht, please continue and try to comply with the suggestions of the representative of the Soviet Prosecution as far as possible.
SCHACHT: As briefly as possible. I will not go into detail; I will merely state that due to the collapse of 1918 and the unsatisfactory conditions of the Versailles Treaty, Germany was faced with a severe depression. The democratic parties, which had a firm hold on the regime at that time, were not able to improve the situation; and the other nations did not know what policy to take towards Germany. I do not reproach any one; I merely state facts. Consequently, in this state of depression, Hitler received a larger majority in the Reichstag than had ever been the case since the formation of the Reich.