Bank, Nazi Officials Put Damper on Rush to Take over Jewish Firms
Menu JTA Search

Bank, Nazi Officials Put Damper on Rush to Take over Jewish Firms

Download PDF for this date

It is daily becoming more apparent that the initial enthusiastic rush of “Aryans” to buy out Jewish enterprises, with or without the use of pressure,” has not consistently yielded the sought-for bonanza. In recent weeks hardheaded Nazi officials and business leaders have been issuing warnings to over-eager buyers that something more than the correct racial affiliations is needed to run a business.

The situation has become sufficiently serious to arouse the National Bank of Essen to issue a statement on the subject. The bank, like others, is subjected to repeated demands for credit by “Aryans” seeking to buy out Jewish firms, usually ones where they were formerly employed.

The bank’s statement points out that in many cases liquidation of Jewish firms is preferable to “Aryanization” and adds that frequently it is not desirable for “Aryan” employes to take over their Jewish employers’ establishments with borrowed money. The statement, however, makes it plain that credit will be granted where “Aryanization” of an enterprise serves the “general interest.”

It is difficult to analyze accurately behind-the-scenes developments actuating such warnings, but informed observers believe that in many instances banks are having rough going where they extended credits too liberally. Sometimes trouble has arisen because the “Aryan” purchasers did not have sufficient management experience. In other cases the enterprises suffered so much before the transfer that the new owners were unable to recover the lost ground, while in still other instances the “Aryan” buyers lost important export contacts.

Recently Der Angriff, organ of Propaganda Minister Joseph Goebbels, made pleas for the founding of a credit institute to further the “Aryanization” process. Since it is undeniably true that hundreds of “Aryan” purchasers of Jewish enterprises have found the ventures profitable, this fact will undoubtedly play a part in the ultimate reception of the suggestion by Government circles.

Members of the National Socialist Party and affiliated organizations who work in Jewish-owned enterprises must not wear their uniforms and party emblems during working hours, according to a ruling by the office of the Reichs leader of the party’s organization department.

Founding Funders

The digitization of the JTA Archive would not have been possible without the generous support of the following donors:
  • The Gottesman Fund
  • Righteous Persons Foundation
  • Charles H. Revson Foundation
  • Elisa Spungen Bildner and Robert Bildner, in honor of Norma Spungen
  • George S. Blumenthal
  • Grace and Scott Offen Charitable Fund