HITLER WARNED

Timaru Herald, Volume CXLIII, Issue 20927, 5 January 1938, Page 5

HITLER WARNED

INDUSTRIAL LEADERS PERTURBED APPOINTMENT OF DR FUNK LONDON, December 1. Heads of three great German industries—iron and steel, coal, and chemicals—have 'ent Hitler a joint message warning him that they are seriously perturbed. They disapprove of the appointment of Dr Funk, a virtually untried man, as Minister of Economics in succession to Dr Schacht. Dr Schacht, who remains President of the Reichsbank, is indignant, because he believes that the appointment of Dr Funk is a deliberate affront to him. Dr Funk and he have been at loggerheads on financial matters for some time. Dr Schacht knows that the many decisions that have been taken in opposition to his advice are the result of Dr Funk whispering in Hitler’s ear. Dr Schacht, as a result, is more determined than p’-er to take no further part in the administration of the Reichsbank. He remains president in name alone, and his resignation from the nominal presidency is inevitable within a few weeks This leaves Germany’s financial destinies in the hands of 1. Dr Funk. 2. General Goering, organiser of the Four-Year-Self-Sufficiency Plan. The decision of the heads of the three protesting industries to approach Hitler was taken at a meeting held in the offices of the Rhenish-Westphalian Chamber of Commerce. It was a private conference and was attended by the leading industrialists of the iron and steel, coal mining and chemical industries. There was unanimous anxiety that the centralisation of power over Germany’s economic life was in the hands of Dr Funk and General Goering. There was agreement that a further deterioration in the raw material and financial situation was inevitable. Finally the industrialists sent Hitler their message of warning. "We draw your attention,” they said, “to the genera’ uneasiness provoked by the change. We express the urgent hope that no intensification of State control will take place.” Reason for the uneasiness of the German industrialists is found in the somewhat varied career of Dr Funk, who was once heavy industry’s friend and is now ranked as its foe.