Question

Who was Hjalmar Schacht ?
a. Economist
b. Chancellor
c. German soldier
d. None of the above

Answer 1

Hint:
 Hjalmar Schacht was a German economist, politician and banker. But he was famous as the founder of the German Democratic Party. He later established his bank in Düsseldorf and served as financial advisor to several countries.

Complete solution:
Hejilmar Schacht was german banker and financial expert who achieved international status in 1922–23 by stopping the devastating inflation that threatened the existence of the Weimar Republic. He also served as the Minister of Economics (1934–37) in the National Socialist Government of Adolf Hitler.

Appointed deputy director of the Dresdner Bank in 1908, Schacht served as financial advisor to the German-occupied government in Brussels during the early World War I (1914–15) and was named director of the German National Bank in 1916 It was later amalgamated with Darmstädter and the National Bank. In 1923, as special currency commissioner in the Ministry of Finance, he developed a rigorous monetary program to curb severe inflation and stabilize the trail, and in December of the same year, he was appointed chairman of Germany's premier financial institution, Reichsbank . Later (1929) he led the German delegation to Paris, negotiating a new plan of payment for Germany, but later rejected the conference's flagship work-youth plan.

Resigning his Reichsbank presidency in 1930, Schacht aligned with German right-wing parties. After Hitler came to power (January 1933), he was appointed President of the Reichsbank, a position he retained in his later term as German Economics Minister (1934–37). As Economics Minister he was responsible for National Socialist unemployment and revival programs But his rivalry with Hermann Göring, who became the virtual dictator of the German economy in 1936, led to the resignation of Schat.


Hence, the correct answer is option A.

Note:
He was sacked as president of the Reichsbank in 1939, opposing Hitler's revaluation spending. He was imprisoned after an attempt to assassinate Hitler on July 20, 1944, and was later captured by the Allies. Presented before the International Military Tribunal in Nuremberg after World War II, he was eventually acquitted.