Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-21
RECENT VISIT HERE
AIDS FINANCE CAR
Herman Schmitz, German
Crisis Dictator, Knows
Hoover'S Views.
nv FREDERIC WILLIAM VILE.

At moment when statesmen OF Eu-
rope and America are pooling their
counsel and respective national interests
in an endeavor to save Germany, 1t
comes to light that the man just ap-
pointed finance dictator of Germany
was in Washington few months ago
and conferred with President Hoover.
He is Hermann Schmitz, head OF the
great German chemical and dye trust
and director of nearly hundred allied
industrial undertakings in the Reich
Herr Schmitz has been drafted from
private life by President Hmdenburg
and Chancellor Bruening to take SUI
prene charge of German banking OPP
erationS during the economic Crisis, eS-
pecially currency and exchange tranSac-
tions. His particular job is to stop the
flight of capital from Germany, under
the drastic restrictions and penalties
the government has just imposed, IN
GLIDING fines and jail for violators.
Speaks Fluent English.
Herr Schmitz was taken to the White
House on February Is by DR.. Won Pritt-
WITT, the German Ambassador In WASH
ington The nature of his converse
lions with the President was, of course,
not disclosed at the time, nor has it
become known since then. 1t was at
all events not long after Herr Schmitz'
presence here that Mr.. Hoover began
to concentrate on Germany'S economic
plight. Ambassador Sackett was sum-
moned to Washington a few weeks
later Naturally Herr SchmitZ, though
then a private business man, did not
neglect the opportunity to lay bare for
the information of the American PreSi-
dent the conditions under which the
Reich was laboring. Speaking fluent
English and having both European and
American business conditions at his
tongues tip, Herr Schmitz is certain to
have painted a vivid picture Of pend
ing and impending events at Mr.. Hoo
ver'S desk.
Recognized as Leader.
After comforting at the White House,
Herr Schmitz was taken to the Depart
ment of Commerce, where he had a
protracted conversation with DR.. Julius
Klein, assistant secretary of commerce
and the departments authority on for
eign affairs. Herr Schmitz explained to
DIR. Klein the arrangements the Ger
man chemical and dye trust has made
WlUn SUdIlQdTQ Ou 1IlleTSSIS Ill LIllS
country. These relate principally to
the Germans important patented proc
ess for coal distillation, whereby it is
claimed that gasoline can be won from
both bituminous and anthracite. 1t is
understood that the Standard is now
assured of exclusive rights in this pos
sibly revolutionary development, SO far
as the United States is concerned
Herr Schmitz is one of Germany's
"key" captains of industry, if not at the
top of the list. He is a native of Essen,
historic city of iron and steel, and only
so years old. A lawyer by profession
his active occupation until few days
ago was that of chairman of the board
of the Unforeseen Gemeinschaft Far
ben Industrie." which means. freely
translated. the German dye trust.
Has Wide Interests.
The organizations ramifications ex-
tend into every field of German indus
try. because chemical processes bulk so
largely in the country'S manufacturing
lines. The list of boards of directors to
which Herr Schmitz belongs is CORE
spondingly long. They embrace COM
panieS engaged in coal and iron mining
celluloid, steel, explosives. rayon. tex
tiles, hydro electric power production
and a variety of affiliated industries
Herr Schmltz is also member of the
Reichsbank Executive Committee and a
director in other banking concerns. His
office and suburban residence are in
Berlin. and he has country homes at
Heidelberg and at Ludwigshafen- on the
Rhine.
The German finance car" has made
frequent visits to the United States.
Government officials and business men
who have had contact with him say the
Reich government made a sound choice
in intrusting Herr Schmitz with the
task of stopping the exodus of the
elusive mark.
(Copyright, 1917