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East St. Louis Daily Journal
East Saint Louis, Saint Clair County, Illinois
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Biographical sketch of Dr. Hjalmar Schacht, German Reichsbank governor, visiting the US to seek foreign capital for Germany's economic hardships under the Dawes plan. Details his near-American citizenship, birth in Tingleff (now Denmark), and banking career in Berlin and Dresden.
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Dr. Hjalmar Schacht.
Financial circles are interested in the coming visit of Dr. Hjalmar Schacht, governor of the German Reichsbank, to this country. It is thought that he is coming to urge that foreign capital be given to help Germany pull through a hard winter.
Because many believe that Germany will not be able to meet her obligations under the Dawes plan although the business men seem to be doing everything to continue payments.
Dr. Schacht's parents were residents of New York for a number of years. Because of ill health Mrs. Schacht left this country just a year before the birth of Hjalmar. But for the indisposition of his mother the German financier would have been an American citizen. The town in which he was born, Tingleff, Schleswig-Holstein, is now a part of Denmark, having been awarded to them in a plebiscite.
During his university days Schacht attracted attention with his views on economics. On completion of his studies he entered the banking world in Berlin and for a considerable time was director the Dresden Bank.
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New York; Tingleff, Schleswig Holstein; Berlin; Dresden
Story Details
Dr. Schacht, nearly an American citizen due to his parents' residence in New York, was born in Tingleff, now Denmark. He studied economics, entered banking in Berlin, and directed the Dresden Bank. As Reichsbank governor, he visits the US to seek aid for Germany's Dawes plan obligations amid a hard winter.