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2O Democracy and Nazism: Germany, 1918–1945

Schacht and the New Plan

  • 3 things to know
  • Component 2

Overview

Recall questions on Schacht's offices and on the bilateral trade agreements and import controls of the New Plan.

What you need to know

Answer each one before you reveal it.

Your recallNot started
Key term

What positions did Hjalmar Schacht hold in the Nazi government?

Key term

What were Mefo bills and why were they used?

Key term

What was Buna?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What positions did Hjalmar Schacht hold in the Nazi government?

    Model answer

    President of the Reichsbank (1933-1939) and Minister of Economics (1934-1937)

  2. 2

    What was the New Plan of 1934?

    Model answer

    Schacht's policy introducing trade controls to manage Germany's balance of payments

  3. 3

    What type of trade agreements did the New Plan establish?

    Model answer

    Bilateral trade agreements with Balkan and South American states

  4. 4

    How did the New Plan manage imports?

    Model answer

    Through import licensing to prioritise essential goods

  5. 5

    How did the New Plan secure raw materials?

    Model answer

    Through barter arrangements that reduced dependence on foreign currency

  6. 6

    What were Mefo bills and why were they used?

    Model answer

    Credit notes used to finance rearmament secretly, concealing military spending from the budget and foreign observers

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