When my defense counsel examined me I stated here that I was intent on stopping the Party collections and Party moneys, which were extracted everywhere from the German people, because it was extremely difficult for me to get the money to finance the armament program and the mefo bills.
I could only get that point across to Hitler if I told him that of course this was being done in the interests of armament. If I had told him that this was done...
MR. JUSTICE JACKSON: Yes, but...
SCHACHT: No, please let me finish. If I had told him that this was done for the building of theaters, or something similar, it would have made no impression on him. However, if I said it must be done because otherwise we could not arm, that was a point which influenced Hitler and that is why I said it. I admitted that and explained it during the examination by my attorney.
MR. JUSTICE JACKSON: And you didn’t call that misleading him?
SCHACHT: I would not call it “misleading”; I would call it “leading.”
MR. JUSTICE JACKSON: But leading without telling him the true motives which actuated you, at least.
SCHACHT: I think you can be much more successful in leading a person if you do not tell him the truth than if you do tell him the truth.
MR. JUSTICE JACKSON: I am very glad to have that frank statement of your philosophy, Dr. Schacht. I am greatly indebted to you. Well, you devised all kinds of plans, one for the control of foreign exchange, blocked foreign accounts; and mefo bills was one of the principal ones of your devices for financing was it not?
SCHACHT: Yes.