The Vampire Economy
Reference Notes
REFERENCE NOTES
Chapter II
1 Jahrbuch des Oeffentlichen Rechtes der Gegenwart, ed. by Otto Koellreuther (1935), p. 267.
2 Zeitschrift der Akademie fuer Deutsches Recht, July 1, 1938, p. 513.
3 Fritz Nonnenbruch, Die Dynamische Wirtschaft (Munich, Centralverlag der N.S.D.A.P., 1936), p. 114.
4 Ibid., p. 119.
5 Schacht’s speech at the School for Reichsbank Officials, May, 1936.
6 May 21, 1936.
7 Frankfurter Zeitung, January 28, 1937.
8 Ibid., January 28, 1937.
9 Bernard Koehler, Chief of the Party Department of Economic Policy, in his speech on “Economic Leadership and Economic Government,” 1934.
Chapter III
1 Decision of the Supreme District Court (Oberlandesgericht) in Hamburg, June 17, 1936, published in Kartellrundschau, January, 1938, p. 29.
Chapter IV
1 Frankfurter Zeitung, April 2, 1939.
2 Ibid., April 12, 1939.
3 Ibid., April 9, 1939.
4 Published as a pamphlet, Export steigerung durch Einschaltung in die Industrialisierung der Welt (Kiel, 1938).
Chapter V
1 Koelnische Zeitung, December 22, 1938.
2 The contractor has to use his share of iron and steel for building work already contracted for.
Chapter VI
1 Deutsche Handelsrundschau, organ of the Edeka (Association of Co-operatives), August 2, 1939.
2 Ibid.
3 U. S. Department of Commerce, Economic Review of Foreign Countries, 1937, p. 20 ff.
4 Theo Loehr, in Die Deutsche Polizei, January 10, 1939.
5 Der Deutsche Volkswirt, September 2, 1938, pp. 2375-2376.
6 Reichs-Kredit-Gesellschaft, Germany’s Economic Situation at the Turn of 1938-1939, pp. 50-51.
7 Deutsche Arbeitskorrespondenz, October, 1936.
Chapter VII
1 Der Vierjahresplan, July, 1938, p. 407.
2 Deutsche Handelsrundschau, July 15, 1938.
3 Die Bank, January 4, 1939, p. 2.
Chapter VIII
1 Walter E. Kinkel, Unternehmer und Betriebsfuehrer in der gewerblichen Wirtschaft (Munich and Berlin, 1938), p. 58.
2 Ibid., p. 72.
3 Deutsche Wirtschaftszeitung, January 19, 1939.
4 Fritz Nonnenbruch, Die Dynamische Wirtschaft, p. 144.
Chapter IX
1 Reichs-Kredit Gesellschaft, Germany’s Economic Situation at the Turn of 1938-1939, pp. 26-27.
2 Ibid., p. 13.
3 Translated from the German text of the annual report of the Friedrich Krupp A.G. for its fiscal year 1937-1938, dated March, 1939.
4 Die Deutsche Volkswirtschaft, September 1, 1938.
5 The Ford Motor Company (General Sales Department) wrote to the author on September 8, 1938:
“Some of the questions you ask in your letter … call for answers which obviously it is impossible to give since they would be predicated on certain economic conditions of which there is no present assurance. Replies to others would be based largely upon personal opinions, which the writer is not in a position to express.… Upon the return of Mr. W. J. Cameron your letter will be referred to him for any further comments he may have to offer.”
No further comments were received.
6 Frankfurter Zeitung, November 13, 1938.
7 Nachrichtenblatt der Reichsbahn, September 3, 1938.
8 Der Deutsche Volkswirt, November 18, 1939, pp. 284-285.
9 German Institute for Business Research, Weekly Report, May 23, 1939, p. 92.
10 Ibid., June 19, 1939, pp. 65-66.
Chapter X
1 The Banker (London), February, 1937, pp. 110-111.
2 Rudolf Brinkmann, “Rechtliche Grundlagen der Kapitallenung,” in Zeitschrift der Akademie fuer Deutsches Recht, January 1, 1939, p. 4.
3 Former Secretary of State, Dr. Karl Schwarzkopf, Managing Director of the Landeskreditbank, Kassel, in a speech at a meeting of the Reichsgruppe Banken (Reich Banking Group), Hamburg, June 29, 1936. Published as a pamphlet by the financial weekly, Die Bank, under the title Quellen und Lage des Kapitalmarktes (Berlin, 1936), pp. 13-14.
4 The corresponding figure for the U. S. A. is about 50 per cent, according to a private estimate.
5 From a survey made by Das Bankarchiv, organ of the German Bankers’ Association, September 1, 1938, p. 38.
6 Die Bank, November 2, 1938, p. 47.
7 The author is obligated not to reveal the source of information.
8 German Institute for Business Research, Berlin, Weekly Report, March 9, 1938, Supplement.
9 Neue Zuericher Zeitung, November 8, 1938.
10 Figures about “money in circulation” compiled and published by the German Institute for Business Research. See statistical surveys in Weekly Report.
11 “Germany, The Results of Four Years National Socialism,” The Banker (London), February, 1937, pp. 115, 118.
Chapter XI
1 An exception has been made for foreign holders of blocked marks if the deposits are the proceeds from the sale of stocks and are immediately spent for the purchase of other stocks.
2 Rudolf Brinkmann, “Rechtliche Grundlagen der Kapitallenkung,” Zeitschrift der Akademie fuer Deutsches Recht, January 1, 1939, p. 4.
3 “There are three classes of members, the sworn brokers, the free brokers, and other members.…
“The majority of the Stock Exchange members are in the third class. They are not subject to particular restrictions and might more properly be called ‘visitors.’ They are mainly bankers or representatives of banks. Many of them rarely appear at the Exchange but have their orders executed by the brokers.”
The Security Markets, Findings and Recommendations of a Special Staff of the Twentieth Century Fund, edited by Alfred L. Bernheim (New York, 1935), pp. 543, 544.
4 Ministerialblatt, September, 1938, quoted in Die Bank, September 7, 1938, p. 1169.
5 Die Bank, September 7, 1938, p. 1169.
6 Frankfurter Zeitung, December 25, 1937.
7 United States Department of Commerce, Economic Review of Foreign Commerce of the United States, 1937, p. 20.
8 Big Business, Its Growth and Its Place, Twentieth Century Fund (New York, 1937), p. 5.
9 According to Wirtschaft und Statistik, published by Statistisches Reichsamt, Berlin.
10 Quoted from a forthcoming article by Dr. F. T. Schmidt, “A Note on the Concentration of Joint-Stock Companies in Italy,” to appear in the American Economic Review, 1939. The figures refer to “non-financial corporations.” Dr. Schmidt made the following comment: “Financial companies—banks, insurance firms, etc.—have been excluded from the present estimate so as to minimize duplication in respect to assets.”
11 Der Zeitspiegel, Berlin, July, 1937.
12 Zeitschrift fuer Aktiengesellschaften und Gesellschaften mit beschraenkter Haftung, Leipzig, February-March, 1938, p. 44.
13 See the revealing study by Dr. Guenter Keiser, Berlin, “Der Juengste Konzentrationsprocess” (“The Newest Process of Concentration”), in Die Wirtschaftskurve, Frankfurt, No. II, 1939, pp. 136 ff.
Chapter XII
1 Dr. C. M. A. Stine, “Chemistry and You,” The Du Pont Magazine, June, 1937, p. 22.
2 According to figures of the Statistische Reichsamt.
3 Germany’s Statistisches Reichsamt, Statistisches Jahrbuch fuer das Deutsche Reich, various volumes.
4 “The term rayon properly applies to all types of synthetic fibers whose basic raw material is cellulose.… At present spruce, Western hemlock, and cotton linters are the most economical sources of cellulose suitable for making rayon, though it is possible to obtain chemically satisfactory cellulose from many other different plants and trees.”
Report on Development and Use of Rayon and Other Synthetic Fibers, prepared by the committee appointed by the United States Secretary of Agriculture, October, 1938, p. 2.
5 Ibid.
6 German Institute for Business Research, Weekly Report, November 18, 1938, p. 94.
7 Report on Development and Use of Rayon and Other Synthetic Fibers, prepared by the committee appointed by the U. S. Secretary of Agriculture, October, 1938, p. 7.
8 German Institute for Business Research, Weekly Report, November 18, 1938, pp. 95-96.
9 Saechsische Zellwolle A.G., Plauen; Sueddeutsche Zellwolle A.G., Kulmbach; Schlesische Zellwolle A.G., Hirschberg; Thueringische Zellwolle A.G., Schwarza.
10 See Fr. Sarow, “Zellwolle,” in Die Wirtschaftskurve, Frankfurt, a. M., No. II, 1938, pp. 263 ff.
11 Estimate. See Weekly Report of the German Institute for Business Research, June 2, 1939, p. 59.
12 Computed from figures of consumption in Die Wirtschaftskurve, 1938, No. 3, p. 265.
13 July 1, 1938.
14 Deutsches Amt fuer Roh- und Werkstoffe.
15 German Institute for Business Research, Weekly Report, November 18, 1938, p. 94.
16 Institut fuer Konjunkturforschung, Halbjahresbericht, 1938-1939.
17 Ibid., 1937, No. 1, p. 34.
18 Dr. Rudolf Regul in the Vierteljahreshefte zur Wirtschaftsforschung, 1938-1939, No. I, p. 83.
19 H. Steinberger, in Deutsche Wehr, January, 1936, p. 3, and Fr. F. Friedensberg in Der Deutsche Volkswirt, April 16, 1937, p. 1405, and Der Deutsche Volkswirt, April 23, 1937, p. 1453.
20 Die Braune Wirtschaftspost, August 1, 1938.
21 The first Buna factory in Schopkau, near Leipzig, started operating in 1937. A second factory is to be finished in 1939 or 1940. The output in 1937 was 20,000-25,000 tons, or about 25 per cent of crude rubber imports.
22 Dr. R. Eicke (director of the Reichsbank), Warum Aussenhandel (4th edition, Berlin, 1938), p. 64.
23 Die Braune Wirtschaftspost, September 9, 1937.
24 New York Herald Tribune, July 4, 1939.
Chapter XIII
1 At the present time barter transactions and trading with Aski marks are forbidden except where individual transactions exceed 50,000 marks. In addition to this, a circular issued by the Reich Foreign Exchange Board on February 23, 1937, restricted the list of countries with which even these transactions were permitted; barter deals could henceforth be effected only with South and Central America, Australia, and New Zealand. The prevailing tendency is to liquidate all private barter transactions.
2 The United States Government introduced “Countervailing Duties on Imports from Germany” in March, 1939.
3 The Economist (London), November 5, 1938, pp. 262-263.
4 Neue Zuericher Zeitung, December 1, 1938.
5 Quoted in a letter of the U. S. Attorney General Frank Murphy to the U. S. Secretary of the Treasury, of March 18, 1939.
6 Figures quoted in a lecture given by Dr. Wilhelm Tannenberg, German Embassy Council, at the Graduate School of the Fordham University on April 23, 1939. See German-American Commerce Bulletin, published by the Board of Trade for German-American Commerce, New York, May 1939. p. 3.
7 Quoted from an address delivered at the Latin American Conference, March 11, 1939.
8 Der Deutsche Volkswirt, July 1, 1938, p. 1940.
9 Reichs-Kredit-Gesellschaft (Berlin), Germany’s Economic Situation at the Turn of 1938-1939, p. 117.
10 Zeitschrift der Akademie fuer Deutsche Recht, January 1, 1939, p. 21.
11 Deutsche Wirtschaftszeitung, 1937, No. 5, p. 152.
12 British holders of German bonds, for instance, received 4 per cent funding bonds; no arrangements were made, however, for payment of dividends and rents. Dutch holders of German bonds get 3½ per cent interest in guilders, four-fifths of house and other rents; dividends up to .5 per cent are paid in foreign exchange, the balance being paid in “Holland marks” or 4 per cent funding bonds. Swiss holders of German bonds were conceded 4½ per cent interest in Swiss francs and the balance in 4 per cent funding bonds; rents, dividends, etc., up to 4½ per cent in Swiss francs, the balance in 4 per cent funding bonds.
13 M. Sering, Deutsche Agrarpolitik (Leipzig, 1934), p. 651.
14 Institut fuer Konjunkturforschung, Vierteljahreshefte zur Wirtschaftsforschung, 1938-1939, No. 3, p. 305.
15 Figures from Der Vierjahresplan.
16 Institut fuer Konjunkturforschung, Vierteljahreshefte zur Witschaftsforschung, 1938-1939, No. 111, p. 31.
17 The following figures indicate structural changes of the world market since the victory of fascism in Germany.
Germany’s Foreign Trade with Different Groups of Countries
(In percentage or total exports (E) and imports (I)
|
Payment Agreement Countries |
Clearing Agreement Countries With Countries Having No Exchange Control |
||||||
|
With Free Exchange Surplus for Reichsbank |
Import: Export = I : I |
Special Agreement |
|||||
|
I. |
E. |
I. |
E. |
I. |
E. |
I. |
E. |
1932 |
.. |
.. |
.. |
.. |
.. |
.. |
34.4 |
50.0 |
1938 |
13.3 |
15.6 |
1.7 |
1.3 |
3.6 |
2.0 |
81.1 |
26.9 |
|
|
Aski Mark Countries |
||||||
|
Clearing Agreements with Countries Having Exchange Control |
With Countries Having Exchange Control |
With Other Countries |
Cash Countries (No Special Agreement) |
||||
|
I. |
E. |
I. |
E. |
I. |
E. |
I. |
E. |
1932 |
15.9 |
20.0 |
.. |
.. |
.. |
.. |
.. |
.. |
1938 |
37-9 |
38.2 |
.8 |
.7 |
5.6 |
5.5 |
16.0 |
9.8 |
German Institute for Business Research, Weekly Report, May 23, 1939, p. 4.
18 State Secretary Dr. Reinhard in a special issue of the magazine Weltwirtschaft, 1938.
19 Reichs-Kredit-Gesellschaft, Germany’s Economic Situation at the Turn of 1938-1939, p. 109.
Chapter XIV
1 Czech gold deposits kept in the name of the Bank of International Settlements—about $30,000,000 worth—were handed over to the Reichsbank by the Bank of England.
2 Private Czech deposits in London amounted to about $12,000,000 and were retained according to a decision of the British Parliament.
3 The New York Times, June 4, 1939.
4 Ibid., June 3, 1939.
5 Hermann Wilhelm Gustloff is the name of a Nazi agent who was shot in Switzerland by a Yugoslav student.
6 Die Wirtschaftskurve, Frankfurt, a. M., No. II, 1939, p. 191.
7 Freda Utley, Japan’s Feet of Clay, New York, 1937.
8 German Institute for Business Research, Weekly Report, May 4, 1938, p. 34.
9 Ibid., p. 35.
10 Ibid., October 7, 1938, p. 1342.
11 Edgar P. Young, Czechoslovakia (London, 1938), pp. 78-80.
12 Der Wirtschaftsdienst, January 13, 1939, p. 46.
13 Der Wirtschaftsdienst, February 10, 1939, p. 180.
14 Spring, 1939.
Chapter XV
1 Quoted by Major K. Hess in his book Miliz (Hamburg, 1933). p. 34.
2 Mussolini, Fascism, Doctrine and Institutions (Rome, 1935). p. 19.
3 From a speech of Bolke to Von Schlieffen, on the latter’s retirement from the German Army Staff in 1905, in W. Foerster, Aus der Gedankenwelt des Deutschen Generalstabes (Berlin, 1931), p. 15.
4 Captain P. Ruprecht (retired), “Totaler Krieg, Strategie und Wehrpolitik,” in Militaerwissenschaftliche Rundschau (1937), p. 458.
5 Ibid.
6 Der Deutsche Volkswirt, 1938.
7 Dr. Gumpert, “Weltkrieg und Weltwirtschaft,” in Das Militaerwochenblatt, December 27, 1937.
8 A. Parker, “The Economic Outlook of Germany,” Lloyds Bank Monthly Review, July, 1937, p. 392.
9 Frankfurter Zeitung, August, 1916, reprinted in the issue of August 13, 1936.
10 Bernhard Koehler, chief of the Commission for Economic Policies of the N.S.D.A.P., in a speech at the Party Congress in Nuernberg, 1936.
11 Frankfurter Zeitung, July 11, 1937.
12 Col. Otto Thomas at a meeting of the Association for World Economy, Kiel, February, 1937.
13 Der Deutsche Volkswirt, April 9, 1936.
Chapter XVI
1 German Institute for Business Research, Weekly Report, November 2, 1938, p. 7.
2 German Institute for Business Research, Weekly Report, November 2, 1938, p. 4.
3 Ibid., p. 6.
4 Ibid., p. 5.
Chapter XVII
1 This tax was abolished in May, 1939.
2 Dr. Rudolf Brinkmann, Secretary of State, in an address delivered to the National Congress of the group, “Banken und Versicherungen,” in Düsseldorf on Ocober 21, 1938. See Weekly Report of the German Institute for Business Research, November 2, 1938, p. 7.
3 German Institute for Business Research, Weekly Report, November 2, 1938, pp. 8-9.
4 The author was able to study factory conditions and industrial management during several trips to different parts of the U.S.S.R., where he had the opportunity of interviewing government officials, technical experts, and workers.
5 Colonel Warlimont (member of the German General Staff), “Volk und Wehrwirtschaft,” in Volk und Wehrkraft: Jahrbuch der Deutschen Gesellschaft fuer Wehrpolitik und Wehrwissenschaft (1937), pp. 37-38.
6 Colonel Otto Thomas, “Kriegfuehrung und Wehrwirtschaft in Der Geschichte” in Wehrwirtschaft, No. 3, 1937.
Colonel Thomas was later promoted to the rank of general.
