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Schacht Airs Plan on Refugees in Talk with Rublee, Winterton; Would Spur Nazi Trade

December 18, 1938
See Original Daily Bulletin From This Date

A definite plan for the emigration of Jews from Germany with a portion of their capital was submitted by Reichsbank President Hjalmar Schacht last night in a long conference at the treasury office with George Rublee, permanent director of the Intergovernmental Refugee Committee and Lord Winterton, chairman.

The plan, which will be submitted to the 30 governments comprising the committee, has not yet been disclosed nor is it known how it shapes up on the score of practicability. Reportedly, it involves a scheme whereby countries participating will accept larger quotas of German goods, paying for the excess over present quotas in cash instead of through clearing agreements. a portion of the currency received by Germany in this manner would then be used in financing emigration.

Further discussions between Dr. Schacht and representatives of the Intergovernmental Committee are not expected for the present. It was authoritatively stated, also, that it was still premature to say whether Mr. Rublee will soon go to Berlin for negotiations on the subject.

Whether a plan of this nature should be accepted is discussed by Dr. Paul Einzig, foreign editor of the financial news. the British Government, Dr. Einzig writes, will “undoubtedly be prepared to make certain sacrifices to facilitate emigration and settlement of German Jews in countries able and willing to absorb them.”

“On the other hand,” Dr. Einzig declares, “since it is one of the main declared principles of Nazi policy to remove the Jews from Germany, there is every reason why the Berlin Government should be expected to take its due share in the burden involved instead of trying to make a financial profit out of emigration.” it is from this point of view, Dr. Einzig concludes, that Dr. Schacht’s scheme should be judged.

Questions concerning Dr. Schacht’s visit will be raised in the House of Commons on Monday by Laborites Morgan Price and the Rev. R.W. Sorenson.

A sidelight on the attitude of the so-called Zazi moderates is furnished by a recent article in Dr. Schacht’s organ, the deutsche Volkswirt, which advises foreign Jews to Raise a billion dollar fund to settle the refugees, asserting that either great Britain or the United States alone is able to absorb the Reich’s “650,000 Jews and non-Aryans” fit for emigration. The article warns against attempts to solve the problem of eastern European Jews simultaneously with that of the German Jews, declaring that the emigration stream from Poland and Rumania should be diverted to Russia.

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