University of Wisconsin Digital Collections
Link to University of Wisconsin Digital Collections
Link to University of Wisconsin Digital Collections
The History Collection

Page View

Military government weekly information bulletin
Number 62 (October 1946)

Press and radio comment,   pp. 18-31 PDF (7.5 MB)


Page 22

in such world-shaking events; that his plans
for the "financing of the war," for the
control of wage and price conditions and
for the strengthening of the Reichsbank had
been completed; and that he had incon-
spicuously transferred into gold all foreign
exchange resources available to Germany...
Funk participated in the economic plan-
ning which preceded the attack on the
USSR.... Funk himself participated in
planning for the printing of ruble notes in
Germany prior to the attack to serve as oc-
cupation currency in the USSR....
Funk had participated in the early Nazi
program of economic discrimination against
the Jews....  Funk participated in the
economic exploitation of occupied territories.
. . .In the fall of 1943 Funk was a member
of the Central Planning Board which deter-
mined the total number of laborers needed
for German industry, and required Sauckel
to produce them, usually by deportation
from occupied territories.... Funk was also
indirectly involved in the utilization of con-
centration camp labor....
In spite of the fact that he occupied
important official positions, Funk was never
a dominant figure in the various programs
in which he participated. This is a mitigat-
ing fact of which the Tribunal takes notice.
Conclusion: The Tribunal finds that Funk
is not guilty on Count One (conspiracy) but
is guilty under Counts Two, Three and
Four (crimes against peace, war crimes,
crimes against humanity).
Sentence: Life imprisonment.
Hjalmar Schacht
Schacht served as commissioner of Cur-
rency and President of the Reichsbank from
1923 to 1930; was reappointed President of
the bank on 17 March 1933; Minister of
Economics in August 1934; and Plenipoten-
tiary General for War Economy in May
1935. He resigned from these two positions
in November 1937 and was appointed
Minister without Portfolio. He was reap-
pointed as President of the Reichsbank for
a one-year term on 16 March 1937 and for
a four-year term on 9 March 1938, but was
dismissed on 20 January 1939. He was dis-
missed as Minister without Portfolio  on
22 January 1943....
He played   an important role in the
vigorous rearmament program.... using *e
facilities of the Reichsbank to the fullest
extent.... He made detailed plans for in-
dustrial mobilization and the coordination of
the army with industry in the event of war.
He was particularly concerned with short-
ages of raw materials and started a scheme
of stockpiling and a system of exchange
control designed to prevent Germany's weak
foreign exchange position from hindering
the acquisition abroad of raw materils
needed for rearmament....
Schacht, by April 1936, began to lose his
influence as the central figure in the German
rearmament effort.... On 7 January 193J
Schacht submitted to Hitler a report signed
by the Directors of the Reichsbank whikh
urged a drastic curtailment of armamp1t
expenditures and a balanced budget as the
only method of preventing inflation. On
19 January Hitler dismissed Schacht 'is
President of the Reichsbank.... On 23 Jidy
1944 Schacht was arrested by the Gestapo
and confined in a concentration camp until
the end of the war....
Conclusion: The Tribunal finds that
Schacht is not guilty on this Indictment, and
directs that he shall be discharged by the
Marshal when the Tribunal presently ad-
journs.       Karl Doenitz
In 1935 he took command of the first
U-Boat flotilla commissioned since 1918,
became in 1936 commander of the submarine
arm, was made Vice-Admiral in 1940,
Admiral in 1942, and on 30 January 1943
Commander-in-Chief of the German Navy.
On 1 May 1945 he became the Read bf
State, succeeding Hitler.
Although Doenitz built and trained the
German U-Boat arm, the evidence does not
show he was privy to the conspiracy to
wage aggressive wars or that he prepared
and initiated such wars. He was a line officer
performing   strictly  tactical  duties....
Doenitz did, however, wage aggressive war
22


Go up to Top of Page