Hjalmar Schacht was a crucial figure who helped the Nazis rise to power in Germany. As the head of the Reichsbank and later Economics Minister, Schacht introduced economic policies that aided Nazi Germany's recovery and raised funds from businesses to strengthen the Nazi Party. However, Schacht eventually lost faith in Hitler and began plotting against the Nazi regime, leading to his imprisonment in a concentration camp.

1. Schacht:
his role
and influence

2. Hjalmar Schacht was known
as Hitler’s Banker.
He was a crucial figure in
helping the Nazis to achieve
power, as someone who
persuaded Hindenburg to
appoint Hitler as Chancellor.
He also oversaw plans for
Germany’s economic recovery
as a government minister.

3. Schacht was a founder of the
centrist German Democratic
Party in November 1918.
In Weimar Germany, he was
Director of the Reichsbank and
helped set up the Rentenmark
to end hyperinflation. He
became a Nazi supporter and
helped raise funds for the Nazis
from big businesses.

4. When Hitler took power in
Germany, Schacht again played
a major role.
He became President of the
Reichsbank in March 1933 and
then eventually was appointed
Economics Minister in the
German government. It was
Schacht that introduced the
Mefo Bill and New Plan.

5. Schacht’s links with Germany’s
elite and big business was
crucial in the Nazi rise to and
maintenance of power.
His strong reputation meant
that the elite lent their trust to
the Nazis in their plans to
rebuild Germany. Schacht’s
fundraising was also crucial to
building a strong Nazi Party.

6. In time however Schacht begin
to lose faith with Hitler and
the Nazi Party.
By 1939 he had resigned as
Reichsbank President and
Economics Minister, although
he was still a member of the
German government until
1943. However he secretly
began plotting against Hitler.

7. Schacht built links with the
German Resistance . After the
July 1944 attempt on Hitler’s
life, Schacht was sent to a
concentration camp.
After World War Two, Schacht
went on trial at Nuremburg but
was acquitted. He eventually
started up his own small bank
and died in 1970.