Reichsbank: Difference between revisions

The [[Nazi regime]] promptly put an end to the independence of the Reichsbank and made it an instrument of their policy of directing Germany's resources towards rearmament and military expansion. byBy amendment of {{date|1933/10/27}} to the Banking Law, the General Council was abolished and the Direktorium, including the President, were henceforth to be directly appointed and dismissed by the Führer. On {{date|1937/01/30}}, Hitler publicly proclaimed the unlimited sovereignty of the Reich over the Reichsbank, and a lew of {{date|1937/02/18}} formally abolished the Reichsbank's autonomous status. Another law of {{date|1939/06/15}} stipulated that the President and Direktorium should directly receive their instructions from the Führer, and renamed the bank as {{lang|de|Deutsche Reichsbank}}.{{R|HandbookDE|p=33}} During most of the Nazi period the same individual was President of the Reichsbank and Minister of the Economy, namely Hjalmar Schacht from August 1934 to November 1937 and Walther Funk from January 1939 to May 1945.