GERMANY: Oracles, Trade Fair

Ever since he resigned as President of the Reichsbank, stiff-starched Dr. Hjalmar ("Iron Man") Schacht has been posturing and talking as though he were still Germany's "financial spokesman." Throughout the world last week, holders of the so-called ''Young Plan Bonds" (German Government 5½s) winced when Dr. Schacht answered in Stockholm a smart Swedish reporter's question:

"What would you do about German Reparations, Dr. Schacht, if you were Dictator of Germany?"

"Tomorrow morning at 8 o'clock," snapped Dr. Schacht, "I should refuse to pay even one pfennig more!"

In rushing to Sweden for...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!