Schacht (1934-37) - N

Question 1

What was Schacht’s aim?

Answer 1

To get Germany out of economical depression.

Question 2

What did he do?

Answer 2

Schacht signed deals with countries in South America and South-east Europe to supply raw materials in return for German goods.
He realised that imports of raw materials (iron, steel, rubber and wood) were needed to build more weapons.

New Plan (1934): prioritised government resources on industry and cut welfare spending.
He introduced control trade agreements (i.e for Hungary).

Question 3

What was the impact of what he did?

Answer 3

Weapon production increased.
Unemployment fell.
Germany was still dependant on foreign raw materials.
He was replaced by Goering as the changes were too slow for Hitler.