MR. JUSTICE JACKSON: Well, by “development” you mean trading, and I suppose you expected to make a profit out of trade?
SCHACHT: No, not only “trade” but “developing the natural resources” or the economic possibilities of the colonies.
MR. JUSTICE JACKSON: And it was your proposal that Germany should become reliant upon those colonies instead of relying on expansion to the East?
SCHACHT: I considered every kind of expansion within the European continent as sheer folly.
MR. JUSTICE JACKSON: But you agreed with Hitler that expansion, either colonial or to the East, was a necessary condition of the kind of Germany you wanted to create.
SCHACHT: No, that I never said. I told him it was nonsense to undertake anything toward the East. Only colonial development could be considered.
MR. JUSTICE JACKSON: And you proposed as a matter of policy that Germany’s development should depend on colonies with which there was no overland trade route to Germany and which, as you knew, would require a naval power to protect them.
SCHACHT: I do not think that at all—how do you get that idea?
MR. JUSTICE JACKSON: Well, you do not get to Africa overland, do you? You have to go by water at some point, do you not?
SCHACHT: You can go by air.