Word: schmitt
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Dates: during 1930-1939
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...more high strung. Certain of his speeches amounted to exhorting German manufacturers to dump their goods abroad at less than cost, at any price they could get for the good of the Fatherland. Manufacturers too infected with "export fatigue" to obey were threatened with Government reprisals. Then Dr. Schmitt cracked under the strain and four Berlin doctors rushed...
...Unter den Linden in which tourists used to cash their letters of credit, dazzled by the splendiferous luxury of Germany's great Disconto Gesellschaft. The Government bought the building last year "as is" and it remained empty until last month. When the Ministry of Economics then moved in Dr. Schmitt exclaimed, "That mountain of mahogany is no desk for me! I want something smaller, with a big drawer for cigars...
...Import Blockade." Adolf Hitler can make an "Economic Tsar" but an "Economic Tsar" cannot always work miracles. Up to last week Dr. Schmitt's Ministry of Economics had used its theoretically boundless powers chiefly to establish an "import blockade" or trade rationing system as drastic as Soviet Russia...
...such substitutes to cut their production hours from 48 to 36 per week. Since Germans are now hoarding goods in fear of inflation there is no dearth of "unhealthy orders," another factor in the boom. Sternly the Economics Ministry sent out fresh reminders last week that Tsar Schmitt has barred all opening of new factories or extensions. Germans must not enlarge the stomach of the great beast of German industry...
Corporative State? Ironically, the Man With the Cleft Nose was not mustered into the Hitler Cabinet to play the desperate role of Economic Tsar but to equip Germany with an ordered "Corporative State." Chancellor Hitler, who despises armchair economists, took a keen personal liking to dynamic Dr. Schmitt as a "frontline war fighter." (His nose, however, was not cleft in battle but in a student duel.) Not an original Nazi, Dr. Schmitt entered the Cabinet with a reputation as Germany's No. 1 insurance tycoon, a man of rugged integrity whose energy and calm enabled the Frankfurter Insurance...