Schacht, << shahkt, >> Hjalmar (1877-1970), was a German financial statesman. As Adolf Hitler’s minister of economics, he devised ways to finance Germany’s preparations for World War II. He resigned his position in 1937 after disagreeing with Nazi economic and foreign policies. Schacht remained in the government as a minister until 1942. He took part in plots to assassinate Hitler. Schacht was acquitted at the Nuremberg trials. He became a banker after the war and advised Asian and African governments.
He was born in Tingleff, Germany (now Tinglev, Denmark) and was a brilliant student at Kiel University. He made banking his career, and received an important position with the Bank of Dresden. He eventually became head of the Reichsbank, Germany’s central bank, in 1924. After World War I (1914-1918), Schacht represented Germany on the commissions which settled German war reparations.
