23 Nov. 45

Reichsbank therefore assumed to a very great extent the responsibility to finance the rearmament in spite of the inherent dangers to the currency. The justification thereof was the necessity, which pushed all other considerations into the background, to carry through the armament at once, out of nothing, and furthermore under camouflage, which made a respect-commanding foreign policy possible."

The Reichsbank directors, as experts on money, believed that a point had been reached where greater production of armaments was no longer possible. We say that was merely a judgment on the situation and not a moral principle, for there was no opposition to Hitler's policy of aggression. Doubts were ascertained only as to whether he could finance that policy. Hitler's letter to Schacht on the occasion of Schacht's departure from the Reichsbank, as contained in Document EC-397, pays high tribute to Schacht's great efforts in furthering the program of the Nazi conspirators. The Armed Forces by now had enabled Hitler to take Austria and the Sudetenland. We say Schacht's task up to that point had been well done. And to quote from Document EC-397 in the words of Hitler in a letter which he wrote to the Defendant Schacht, "Your name, above all, will always be connected with the first epoch of the national rearmament."

Even though dismissed from the presidency of the Reichsbank, Schacht was retained as a Minister without portfolio and special confidential adviser to Hitler. The Defendant Funk stepped into Schacht's position as President of the Reichsbank. And I ask at this point that the Court might take judicial notice of the Völkischer Beobachter of January 21, 1939. The Defendant Funk was completely uninhibited by fears of inflation, for like Göring, under whom he had served in the Four Year Plan, he recognized no obstacles to the plan to attack Poland.

In Document 699-PS, in a letter from the Defendant Funk to Hitler, written on August 25 of 1939, only a few days before the attack on Poland, the Defendant Funk reported to Hitler that the Reichsbank was prepared to withstand any disturbances of the international currency and credit system occasioned by a large-scale war. He said that he had secretly transferred all available funds of the Reichsbank abroad into gold, and that Germany stood ready to meet the financial and economic tasks which lay ahead.

And so it seems plain and clear from the writings, from the acts, from the speeches of the Nazi conspirators themselves, that they did in fact direct the whole of the German economy toward preparation for aggressive war. To paraphrase the words that the Defendant Göring once used, these conspirators gave the German