Evening star., 1933-06-25
SCHACHT is RATED HEAD
OF HITLER BRAIN TRUST
German Financial Expert Guarding His
Nations Interests at Economic
Conference.
BY C. PATRICK THOMPSON.

~ apt and proper for a stat
whose rulers have not yet de
cided whether to head into the strang
future or trim sail and turn back 4
the known, explored, familiar and dis
astrous past-by a new-generation mai
with an old-regime manner.
Meet DR.. Hjalmar Schacht. preSiden
of the Reichsbank, the most formidabl
figure in GermanyS little brain trust
banker. economist, politician, renowned
as a HEAVIER of financial bombs and ;
wielder of political indiscretions &
very useful weapon of both attack ant
defense in European politics in genera
and German politics in particular) anc
one Of the most significant world fig
ures of the epoch.
Shaking hands with this stocky
abrupt. energetic man. whose hard
smiling eyes CLINT behind very large
pince-nez glasses, you may find hin
lacking in personal magnetism. and thi!
reaction may recall to your mind tha
his fame is scarcely equal to the appel
lation significant world figure" I u.s.
this phrase advisedly, for the significant
world figures of this mighty transition
phase in the life of the machine-mad'
civilization are not really those who
enjoy enormous fame through the eX-
ercise of political talents and mas.
hypnotic powers. They are the eco
nomic experts who not only preach the
gospel of dispassionate economic
technical approach to world problems
but who have the requisite qualities
nant political leaders and regimes sc
that they can put their ideas into prac-
tice.
Bulks Big in Economics.
You may not like Hjalmar Schacht's
manner. You may protest that the back
of his head looks as If a caricaturist
had nodded it to fit the popular con-
ception of what is meant by ''Prussian.'
You may think that as a diplomat lie
is about as tactful as the late Hugo
SHINES, who in the midst Of delicate
Allied conferences with defeated Ger
many in the early postwar phase
was in the habit of losing his temper
and telling the shocked conquerors
ministers, diplomats and bankers where
they got of. But all that side OF
Schacht pales before those aspects
which make him bulk big in the queer
age of the great economic war.
He preserves, above all things, and
despite his Prussian manner and Nazi
nationalist orientation, the detached
mind. The thin clenched lips may
upon occasion pronounce phrases more
in keeping with Hitlerite oratory than
with common Sense: but the brain in
side that massive skull remains a free
agent-strong, acute, balanced. wide
ranging. dispassionate. Probe for the
secret Of this and you find that 1t lies
less in education than in the obscure
roots Of tribal origin.
Like Hitler. he comes from an out
side tribe He has Scandinavian roots.
Those roots were transplanted to
Northern Schleswig and the Schacht
family flourished in this province,
which was Danish until Prussia
grabbed it 10 years ago. piece Of in
ternational piracy which was recalled
after the war.
Name Is Not German.
"Hialmar" is not a German name.
Probably Schacht would not have cho-
sen his baptismal name had he had
any say in the matter. But that little
affair was left to his father, and what
his father, Danish subject, thought
about the appearance of the Prussian
flag in Schleswig may be gagged from
his subsequent action. He migrated
to the New World across the Atlantic,
his betrothed came out to him from
Copenhagen, 20 days in sailing boat,
and they were married in Brooklyn.
where their first child was born, and
named (shades of NaZi GermanyD
Edward Hjalmar, appearing later, mar
rowly escaped a like birthplace, and
American nationality. But New York
climatic conditions did not suit the
woman from Copenhagen. and Schacht,
senior, returned to Sch,eswig, to work
there for the company which had en-
ployed him in New York.
Hjalmar was born year later, at
Tingleff. His parents commemorated
In their newborn their life in the
United States by baptizing him HAL
mar Horace Greeley. But il you wish
to remain on friendly terms with DR..
Schacht, head of the Reichsbank and
a power in the Nazi regime. you will
not greet him with a bright, Hello.
Horace" and still less with warm,
why. Greeley, old fellow" For he
does not use those names, and doubt
less thinks his father extremely indis-
Greet to have pinned them on him, a
full -blooded German now.
Some minority men spend their lives
preaching and working for the restora-
ton Of a lost nationality. Others like
the Scots, the Welsh and the Irish in
England. as typified by Macdonald,
Lloyd George and Bernard Shaw pre-
fer to conquer the conqueror and rule
or bully him on his own soil. To the
latter group Of wiser men belongs
Schacht. from former Danish Schles-
wig.
Lacked Early Luxuries.
In pre-war Germany Hjalmar
Schacht, lacking the advantage Of
money. birth and the individualistic
acquisitive instinct, went ahead but re-
NAMED relatively unimportant. the tool
Of more powerful men and interests.
His father had been made secretary Of
his companys branch Office in Berlin.
Thither Hialmar went when he was
through with school, and. after start
ing off on the wrong foot in a news
paper Office began his real career with
a concern which supplied business firms
with statistics.
The record and statistical side of big
business was then becoming important
The big Dresdner Bank enlarged this
side of its organization and took IN
young Hjalmar. Once in on the ground
floor, Hjalmar, quick, clever. indus
trious, rapidly attracted the attention
of bank chiefs. He was head OF his
at 35. The state had need Of such
highly specialized men when war came
Hence Schacht's survival. He is not
warrior type. and his only close con-
nection with the war front was spell
in Belgium. where he was sent by tbs
authorities to organize German bank
ing
The collapse of the old regime and
the coming of the republic changec
Schachts whole life and field OF OPP
portunity Since the beginning OF thI
war he had been member OF tho
politico-economic circle known as tht
"wednesday Society" Al the weekly
meetings OF this circle, industrialists
bankers and Left-inclined industrial
ist- politicians, men not tied to the
Hohenzollern regime. and outside o.
the ruling warrior Junker caste. me
and discussed affairs in which they
had a common interest-the interes
of self-preseryation. These contacts die
three things to the serious. industriou!
Young bank cashier. They broadenec