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Show THE SALT LAKE TRIBUNE, SUNDAY MORNING, MAY Master of the Mark Dr. Hjalmar Schacht, whose political Indiscretions at Paris were recently blazed across the seven seas and the six continents. Is one of the He makers of the New" Germany. belongs' completely to the Republican era. The war produced Hinderiburg, Seeckt-anGroener. Ebert was a prominent political figure under the imperial regime. Walter Rathenau was a leader in prewar industry. But Schacht emerged only after the war. Even to a greater degree than . Stresemann, the Bismarck of the new order, he Is a man of the last decade rthe decade since the armistice. In an Incredibly brief period he has risen from relative obscurity ato be the dominating force in German finance and economics. His prestige there Is something like Mr. Mellon s here. And in Germany's present situation such dominance is of more than consequence corresponding dominance In politics. Dr. Schacht Different From Accepted German Type. '. Dr. Schacht does not run true to the accepted and traditional Ger-- J man type. He is of Danish blood, a native of North Bchleswig, a region not annexed by Prussia until 1866, and retroceded to Denmark: under the Versailles treaty of 1919. He is not even. "Piatt Deutsch." a Scandinavian rather than a German. His mother was Constanze Prelin von Eggers, and his wife's family name is Sowa. His daughter's baptismal name Is Inge and his son's is Jens JJalmar. There Is .little suggestion of either Prussia or South Germany in these excerpts from the family Bible. The head of the Reichsbank received his education in the free city or Hamourg, witn its Hanseatic tra ditions and Scandinavian associations. Hamburg looks toward the north and west, rather than toward the south. It Is essentially maritime and highly sensitive to foreign in fluences. It is a place where many oi tne inhabitants wear English plaids and betting Is conducted the year around on British football matches and horse races. Dr. Schacht Narrowly Escaped Being American. Dr. Schacht also narrowly escaped being an American. His full name is HJalmar Horace Greeley Schacht, although he does not sign it that way and" the German "Werisst's?" sup- presses the Horace Greeley part of It His fathe was a Danish subject until 1866. He spoke Danish, not German, and after Prussia and Austria quarreled over Holstein and Schles-witaken from Denmark In 1864, and Prussia's victory gave her both, the senior SChacht emigrated to the United States. H? found work In New York, and in 1870 sent for his fiancee to Join him. The latter was 70 days coming from Copenhagen to America, suffering many hardships on a voyage made sensational by violent storms, shortage of food and water, an outbreak of smallpox and a long quar- - ' ; . William L, McPherson :- -By i.VyV . .I "1. ' ,y n; The British admiralty's attitude at the three power naval armament lim r One of Oldest Cities Gets First Pavement Case Shows Why MEXICO CITY (Universal). Cordoba in the state of Vera Cruz, one of the oldest municipalities in the western hemisphere, is getting her first modern pavement and not all of the city is agreed that such a thing is necessary. There are many who hold that the old cobbles, some of them laid in early Spanish colonial days, were good enough for them and that laying down something like asphalt that must be repaired now and then is Just rank waste... There being little or no money In the city treasury, common a!meHt1n the state of Vera Cruz since the socialists run it, it was decided to have the property owners provide the cash for the pavement around the Zocalo and First avenue. Most of them did as requested, but four of them could not see their money go that way. They are now at odds with the city government, while those who have made their contribution may have the pleasure of seeing a special tax measure passed for the benefit of the obstinate four. , Jury Plan Fails MEXICO CITY (Universal) . Why much of the Mexican publie has no confidence in the Jury system has during recent days again been demonstrated, as most of the dally papers view it by the cases of Miguel z. Felix Cuevas and Dolores Vera God-Ine- Though there was ho doubt in pothat Cuevas. a member better class, had mur- lice circles ed of the dered his wife and mother-in-la- w in a most "atrocious manner, his Jury set him free, following resort by the defense to every means serving that purpose, Including a melodramatic blessing of tbe accused by his aged mother in the court The Jury wept and the Judge decided to reject its verdict The case is now on appeal. In the God Inez case, the accused, a young woman with an illegitimate child to support was charged with having stolen money and toilet articles to the value of 70 pesos $35. The Jury found her guilty and fixed sentence at seven years. ; J.CPENNEYC. SOUTH STATE STEEZT Dr. Hjalmar Schacht, German delegate to reparations parley, product of the new republic, and its financial guide; now being called the Andrew Mellon of Germany. zation specializing in statistics. A man ultimatum or what was taken little later he entered the powerrui as such by the other delegates was Dresdener bank as an employee in a startling political and diplomatic the records section. He soon rose to blunder-- , awakening suspicions the be chief of the section, and was elect- world over that Germany was not ed to the bank's board of directors disposed to deal with the problem of before he was 35. modifying or replacing the Dawes He served afterward as director plan In a reasonable and accommoof the Darmstaedter bank and of the dating spirit. In Its bruskness and National German bank, and during unwelcome introduction of what apthe war organized German banking peared to be extraneous demands for operations in Belgium. Rathenau revision of the territorial provisions was also in Belgium for a time, as- of the Versailles treaty, Dr. Schacht's sembling - industrial materials for gesture Inevitably recalled the earlier, German war purposes. He said af- errors and infelicities of German diterward that he did not relish his plomacyall the more so because job. There is probably justification the conference had no Jurisdiction did whatever over the territorial partifor the statement not relish his, being,- - like Rathenau, tions of 1919. far from sympathetic with the harshThere are many explanations. But ness and excesses of the German the most convincing ones lie In the In Belgium. chief German delegate's character. military administration Mere mastery of economic doctrine Although an economist, a student of would not have carried Dr. Schacht to what Thomas Carlyle called the "disIn German mal science," Dr. Schacht is highly his present finance. Political experience and temperamental. He was not a youthcontacts were needed to bring him to ful poet for nothing. He has boundand an absolute the front He bad begun to make less these before the war, although strict- belief jiot only In his own .Judgment, ly speaking they were a little outside but in his own theories. His career of the political field. In London, Bal- has made him authoritative, and that four and Curzon belonged to the eso- quality he exhibits in fields alien to teric and super literary society of his experience. "Souls." In Berlin, Schacht Joined Dr. Schacht Neither the "Wednesday Society," being Politician Nor Diplomat elected an original member of that He is not a politician, with the exclusive organization in 1914. ' Its of. art compromise and confounder was Ernst Bassermann, for- letter's - ant'ne. mer leader of the national liberal ciliation. He is not a diplomat senThe marriage took place in Brook- party, and among those who discussed sitive to the importance of guarded lyn. Dr. Schacht's elder brother, Ed- politics and economls at Its weekly phrases or alive to the reactions of ward, was born there. Dr. Schacht meetings were Field Marshal Moltke, national and international psychology. He may have been on April 17 himself was born In 1877 at Tinglef,, Count George Wedel, the diplomanorth of Flensburg, a year after his tist; Hugo Stinnes, Dr. Alfred Hugen-ber- g, a sound economist, from the German point of view. But from that same former Krupp director, newspaparents had returned to Schleswig. He said In an interview in this city, per magnate and now chief of the point of view he was a lamentable , on October-191926: nationalist party; Walter Rathenau, diplomatist and politician. too Isolated Dr. Schacht Felix Deutsch, Privy Councilor Citizen Father from the of politics to Schwaback and Dr. Ludwig Stein. Of United States. make a good negotiator. He is inof "Wednesday clined to stand alone and to break "My father was a citizen of the Importance with others, rather than to give way United States and my elder brother Society" Increased. was born In Brooklyn. But my mothThe Importance of the "Wednesday in minor matters. He left the demoer's health was not good here and Society" was greatly Increased by the cratic party when the latter organimy father returned to Germany. He revolution, inrough it and through zation decided to allow its members was in the employ of the Equitable his contributions to the Berlin news- to vote as they pleased on the quesLife Assurance society- - for 35 years papers, Dr. Schacht established a tion of restoring the properties of the and draws a pension from the cor- very considerable political Influence. members of the former German Beiore the war he had been a liberal, reigning houses. That was a practiporation at the present time." Thus only through the accident of and after the revolution he became a cal party compromise. But Dr. sickness a trifling vagary of de- convinced Republican. He joined the Schacht resigned because he thought of that the party ought to have stood stinyhe came into the world a Ger- democratic party, the leadership man instead of an American, and his which "was vested in Count Bern-stor- solidly for what he considered informer Minister Carl Dern-bu- rg disputable property rights. extraordinary financial talents were lost to Wall Street and the United As an economist lie has,, always and Carl von Siemens of the SieStates. mens company. With Georg Bern-har- d, emphasized the advantages to GerIt was, however, through his of the "Vossiche Zeitung," he many of recovering her overseas colofather's American associations that stood for what was known in Ger- nies. Upper Silesia and the Danzig his career in Germany was made many as the "Continental policy." corridor. It is due. perhaps, to his possible. The Germany of the Rathenau, although a socialist, was temperamental enthusiasm that he seemed to offer him also a Strang supporter of this pol- has exaggerated the value of the lost colonies as sources of raw materials, meager opportunity for distinction. icy, which looked to economic under. He was poor, without influential relastanding with France and a joint de- like cotton. German Africa never tives and a Schleswiger a member velopment of French and German in- supplied Germany with cotton. It of an oppressed and submerged ra- - dustries. Schacht also expressed apcould not do so now. And raw maclal minority. terials produced In the former overof Count Richard proval seas possessions may be bought withscheme for Offsetting these disadvantages, the elder Schacht had the good luck to out special hindrance. Yet the political union. be selected by the Equitable as the Reichsbank's Na1923 he amalgamated the In president has' had an almost romantic attachment for the secretary of Its branch establishment tional bank of Berlin with the Darmin Berlin. That made an opening staedter bank and was drawn more expropriated colonial possessions. His for his clever son, when the latter actively into financial controversies favorite idea is "to take the colonies had finished his schooling. The boy which were being accentuated by the out of politics" that is, to persuade was precocious and versatile. He Ruhr and the debasement the allies and the United States to wrote poetry while at school and suc- of theoccupation form a chartered company, like the old paper mark. ceeded In getting It published. That old British East India company, to was at a meeting of the "Wednes It was an Indiscretion which the master day Society," in July, 1923, that he delvelop the former German colofinancier has tried to live down, just aeciarea nimseu empnaucauy nies for the Joint benefit of the foras he has discarded the perhaps against the ruinous policy of defla- mer allied nations and Germany. compromising Horace Greeley tion, and his attitude, supported by section of his name. In 1926 he felt other economists, precipitated a crisis Recovery of Upper Sllwia obliged to bring suit against a pub in the Cuno cabinet, which had been One of Liveliest Hopes. The recovery of Upper Silesia and lisher wno was seeking to put out a program of passive renew edition of "The Minstrel's conducting sistance to the French occupation of the Polish corridor to the Baltic has Schachtian been one of Dr. Schacht's livealso set to Waltz7a lyric the Ruhr. music by the composer Hasenkamp. liest hopes. In an interview with one . Puis Forward Plan This literary digression was brief of the editors of "Le Journal de and was succeeded by a more lasting Of Gold Note Bank. for economics. Leaving passion tt was also at a meeting of the soschool, young Schacht got a start in ciety that Dr. Schacht, on October 17, Berlin as newspaper writer and then 1923, put forward his plan of a gold One Cent a Day as secretary of a commercial organ!- - note bank as the only means of sav- J ing the financial situation. Dr. Karl a Month Heuiencn, secretary of the treasury Brings under.the empire, favored the crea- r tion of a Renten bank, with a cur- Over 115,000 Persons Have Taken We desire to Announce j rency based on land values. Schacht Advantage of Liberal Insurance opposea uie iauer scneme, except-a- s a temporary makeshift. He refused, Offer. Policy Sent Free to, Ihe Public a Change however, to accept the ministry of for Inspection. of Location of - Our finance In the Stresemann cabinet, Kansas City, Mo. Accident Inand Stresemann's last act as chancelOptical Store.-To- n lor was to appoint Schacht commis- surance at a cost of one cent a day sioner of currency, giving him practi- is being featured in a policy issued cally dictatorial powers in all cur- by the National Protective InsurWill Find Us ance Association.. rency matters. The next day Havensteln, for 20 The benefits are $100 a month years president of the Reichsbank. for 12 "months 41.000 to $1500 at One Door died. Helfferich had been slated for death. The premium fas only $3.65 the succession, but Chancellor Marx, a year or exactly one cent a day. of Our Old Location. with the approval of President Ebert, Over 115,000 paid policies of this decided on a clean sweep and pro- type are already in force. Men, moted Schacht to be Reichsbank women and children ten years of Would be very pleased to In Position he that has age or over are eligible. No medipresident strengthened his authority cal examination Is required. This have you call and we are f constantly ana uiiiuence. tie conuimited ma- may be carried in addition to interially to the preparation and suc- surance in any other company, prepared to take care of cess of the Dawes plan. He reestaball your Optical Needs. lished German credit and financed Send No Money Germany's remarkable economic and To secure 10 days' free inspecIndustrial recovery. His policy has tion of policy, send no money. Mail repressed inflation, encouraged econColumbian omy and also sought to discourage to the National Protective Insurance Association, 1082 Scarritt Bldg., excessive foreign loans. It is no exOptical Co. aggeration to say that he has now no Kansas City, Mo, the following Inrival as a financial expert enjoying formation: Name. affe. address. WASATCH 5360. . the cop'idence of economic and po- beneficiary's name and relation- litic Germany. snip. Alter reading the policy you 338 SO. MAIN What caused Dr. Schacht's s mus- may either return it without obing faux pas of April 17 last, almost ligation or send $3.65 to put policy disrooting the conference of exiwts in force for a whole year 365 days. on reparation adjustment? The Ger , UdvJ (Copyright, 1928.) ' rTTr'! mala-droitne- by-it- Woman Going on 'Mission Honored naval accord of 1928 did much to discredit naval experts as diplomatists. Dr. Schacht's "brain storm" at Paris has lowered the prestige of Friends will honor Miss Marian economic experts as substitutes for statesmen. In International deal- Glenn, who will leave soon for the ings restraint and breadth of vision northwestern states- mission with a are still required and these failures farewell testimo of expert Judgment have gone far tonial at B p, m. ward restoring the credit of professional diplomacy. Thursday in the Emerson ward (Copyright, 1939. by the New York chapel The folHerald Tribune.) pro lowing gram will conclude with Road Crew Completes dancing: Opening congregasong, GunnigonSalina Work tion; invocation; Arch vocal solo. Sprctal to The Trtbuiw. RICHFIELD. The road between 1 1 Mrs. George A, Gunnison and Salina Is now comselection, I Ooff; crew I Instrumental trio; pletely graveled. The road I remarks, Arthur started to gravel the road between 1 Welling; v o c a 1 Richfield and Monroe Tuesday. A new road has also been built between Elslnore and Joseph. It will Marian Olrnn. organ and piano be ready for travel within two weeks, solo, Alice Swen-soto Moroni Jensen, chairaccording remarks, missionary; selection, man of the Sevier county road Criterion quartet; remarks, D. D. Brimhall; benediction. Geneve" In 1926. withheld from publication until AprU 19 last he said: "The financial reconstitution of Europe is impossible so long as the Poles will not give the Danzig corridor and Upper Silesia back to us." He has expressed the same idea on many other occasions. This Schleswiger. whose father Jeft that province after it had been annexed to Prussia and whose birthplace has become Danish again through the operation of the Versailles treaty, has now become an ardent Prussian irrei dentist But the" recession of the Danzig corridor and Upper 8ilesia can be accomplished only with the consent of Poland, and Poland was not even represented In the reparation experts' conference. To raise such a question there Ignored political realities and startled the world s and diplomatic naivete - v.. '".V: vnfrf itation conference at Geneva in 1927 and its negotiation of the Franco-Britis- h 19, 1920. that-Schac- . ip 3&e?i Here Are Real Quality at a Stmdy S erviee Plenty of Room for V Saving! 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