State the two policies introduced by hjalmar schacht to reconstruct the economy of Germany
Answers
Answer:
1.Dr Schacht, Hitler's first Minister of the Economy, established his New Plan in 1933, with the aim of getting Germany out of economic depression
Horace Greeley Hjalmar Schacht (22 January 1877 – 3 June 1970) was a German economist, banker, centre-right politician, and co-founder in 1918 of the German Democratic Party. He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic. He was a fierce critic of his country's post-World War I reparation obligations.
Hjalmar Schacht
Hjalmar Schacht.jpg
Reich Minister of Economics
In office
3 August 1934 – 26 November 1937
President
Adolf Hitler (as Führer)
Chancellor
Adolf Hitler
Preceded by
Kurt Schmitt
Succeeded by
Hermann Göring
President of the Reichsbank
In office
12 November 1923 – 7 March 1930
Preceded by
Rudolf E. A. Havenstein
Succeeded by
Hans Luther
In office
17 March 1933 – 20 January 1939
Preceded by
Hans Luther
Succeeded by
Walther Funk
Personal details
Born
Horace Greeley Hjalmar Schacht
22 January 1877
Tinglev, Province of Schleswig-Holstein, German Empire
Died
3 June 1970 (aged 93)
Munich, Bavaria, West Germany
Resting place
Munich Ostfriedhof
Nationality
German
Political party
German Democratic Party (1918–1926)
Independent (1926–1970)
National Socialist German Workers' Party (1934–1943; as honorary member)
Spouse(s)
Luise Sowa
(m. 1903; died 1940)
Manci (m. 1941)
Children
Cordula Schacht[1]
Profession
Banker, economist
Signature
He served in Adolf Hitler's government as President of the National Bank (Reichsbank) 1933–1939 and became Minister of Economics (August 1934 – November 1937).
While Schacht was for a time feted for his role in the German "economic miracle", he opposed Hitler's policy of German re-armament insofar as it violated the Treaty of Versailles and (in his view) disrupted the German economy. His views in this regard led Schacht to clash with Hitler and most notably with Hermann Göring. He was dismissed as President of the Reichsbank in January 1939. He remained as a minister without portfolio, and received the same salary, until he was fully dismissed from the government in January 1943.[2]
In 1944 Schacht was arrested by the Gestapo after the assassination attempt on Hitler on 20 July 1944, because he allegedly had contact with the assassins. Subsequently, he was interned until the end of the Third Reich in the concentration camps Ravensbrück and later at Flossenbürg. In the last days of the war, he was one of the 134 special and clan prisoners[a] who were transported by the SS from Dachau into the "Alpine Fortress" to Niederdorf in South Tyrol, where they were freed on 30 April 1945.[4]
Despite this, he was tried at Nuremberg, but was fully acquitted.
In 1955, he founded a private banking house in Düsseldorf. He also advised developing countries on economic development.