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ARCH.2003.25, Rendition: 793960
The image shows a piece of newspaper clippings with a headline that reads "Schacht Quits As Bank Head; Bourse Uneasy" by John Elliott. The article is dated March 7, 1930, from the Herald Tribune Berlin Bureau and is copyrighted by the New York Tribune Inc. in 1930. The article discusses Dr. Hjalmar Schacht, the president of the Reichsbank, who resigned on the eve of a vote in the Reichstag for the Young Plan, a plan that he opposes. The piece mentions that his resignation caused a near-panic on the Bourse, with stock prices dropping on the average of six points, and it also notes his resignation as a "deserter" from the German Cabinet. The text is printed in black ink on a yellowed paper background.
This image is a historical newspaper clipping from the Herald Tribune Berlin Bureau, dated March 7, 1930. The article is titled "Schacht Quits As Bank Head; Bourse Uneasy" and is written by John Elliott. The headline indicates that Dr. Hjalmar Schacht, the president of the Reichsbank, has resigned on the eve of a vote in the Reichstag for a plan he opposes, known as the Young Plan.
The article discusses the reasons for Dr. Schacht's resignation, which was due to his opposition to the modified Young Plan. It mentions that his resignation caused a near-panic on the Bourse, with shares dropping significantly. The Reichsbank's shares lost fifteen points, while other standard potash issues and electricals also saw declines.
The article also notes the political impact of Dr. Schacht's resignation, stating that it comes at an inopportune time, just before the final division in the Reichstag on the Young plan. It concludes by mentioning that the German Cabinet had tried to persuade Dr. Schacht to postpone his resignation but was unsuccessful.
This is a scanned, vertically oriented newspaper clipping, likely from the 1930s, presented against a plain light gray background.
The clipping itself is yellowed with age, suggesting it is historical. Its top edge is slightly torn, and the paper shows signs of wear.
It is a news article from the Herald Tribune Berlin Bureau, copyrighted in 1930 by the New York Tribune Inc. The article is titled:
Schacht Quits As Bank Head; Bourse Uneasy
Below the main headline, a sub-headline reads:
President Resigns on Eve of Vote in Reichstag for Young Plan He Opposes
The byline attributes the article to John Elliott.
The article reports on the resignation of Dr. Hjalmar Schacht as president of the Reichsbank (Germany's central bank) on March 7, 1930, in Berlin. The resignation, announced at a meeting of the bank’s central committee, came as a surprise to the German business world.
The stated reason for Schacht’s resignation was his opposition to the “Young Plan,” an international agreement to restructure German reparations payments after World War I. The article notes that the Young Plan had been modified after the Hague conferences, but Schacht still opposed it. The timing of his resignation was politically significant, occurring just before a final vote on the plan in the Reichstag, of which he was a leading critic.
The article details the immediate impact on the German stock market (Bourse), describing a “near-panic” after the announcement. Shares dropped, with the Reichsbank’s shares falling fifteen points, and other major companies like Salzdetfurth and Siemens also seeing significant losses.
The piece concludes by hinting at political pressure: it notes that the German Cabinet had tried to persuade Schacht to postpone his resignation, but he remained resolute and only informed the ministers of his decision after the bank committee meeting.
The layout is typical of early 20th-century newspapers, with dense, justified text in a serif font, and small, compact paragraphs. The headline uses a bold, large typeface for emphasis.
The image is a scanned copy of a newspaper clipping from the Herald Tribune Berlin Bureau, dated March 7, 1930. The headline reads "Schacht Quits As Bank Head; Bourse Uneasy," indicating that Dr. Hjalmar Schacht, the president of the Reichsbank, has resigned from his position. The article is written by John Elliott and discusses the impact of Schacht's resignation on the German business world and the stock market. The clipping is torn and has some stains, which may affect the legibility of the text.
The image is a photograph of a newspaper clipping. The clipping appears to be from an older publication, as evidenced by the style of the text and the layout. The text is written in black ink on a beige background, which is typical of old newspapers. The clipping is titled "Schacht Quits As Bank Head; Bourse Uneasy." The text below the title reads, "President Resigns on Eve of Vote in Reichstag for Young Plan He Opposes." The article is written by John Elliott and is from the Herald Tribune Berlin Bureau. The date of the article is March 7, 1930, and it is from Berlin, Germany. The article discusses the resignation of Dr. Hjalmar Schacht, the president of the Reichsbank, and the impact of his resignation on the German business world. The article also mentions the Young Plan, a scheme that was modified by political delegates at the two Hague conferences, and the Reichstag's vote on the plan. The article concludes with a note that Dr. Schacht's resignation produced a near-panic on the Bourse, with a reduction in the Reichsbank's discount rate and a drop in stock prices.
The image shows the front page of a newspaper article dated March 7, 1930, from the Herald Tribune Berlin Bureau. The headline is prominently displayed at the top and reads: "Schacht Quits As Bank Head; Bourse Uneasy". Below the headline, a subheading states: "President Resigns on Eve of Vote in Reichstag for Young Plan He Opposes".
The article, authored by John Elliott, reports on the resignation of Dr. Hjalmar Schacht, the president of the Reichsbank (Germany's central bank), from his position. The resignation was announced at a meeting of the bank's central committee, just before a vote in the Reichstag on the Young Plan, which Schacht opposed.
Key details from the article include:
Resignation Context: Schacht's resignation came as a surprise, especially since he had been re-elected for a second term in the autumn of 1928. The article notes that the move was driven by his opposition to the Young Plan, which had been modified by political delegates at the two Hague conferences.
Market Reaction: Schacht's resignation caused turmoil in the financial markets. The announcement led to a near-panic on the stock exchange (Bourse), with the Reichsbank's discount rate being reduced from 6% to 5%. Share prices of the Reichsbank fell by six points, while shares of companies like Salzdetfurth dropped fifteen points and Siemens fell thirteen points.
Political Reaction: The German Cabinet reportedly tried to persuade Schacht to delay his resignation until after a meeting of ministers, but he had already made up his mind to resign.
The article emphasizes the significance of Schacht's resignation, describing it as an "unexpected step" and noting that it came at an "inopportune time" on the eve of the final division of the Young Plan, of which Schacht was one of the principal signers. The piece also refers to Schacht as a "deserter," highlighting the political and economic tensions of the time.
The image presents a newspaper clipping from the Herald Tribune Berlin Bureau, dated March 7, 1930. The clipping is titled "Schacht Quits As Bank Head; Bourse Uneasy" and features an article by John Elliott.
In summary, the image shows a newspaper clipping from the Herald Tribune Berlin Bureau, dated March 7, 1930, reporting on the resignation of Dr. Hjalmar Schacht as president of the Reichsbank. The article notes that Schacht's resignation was due to his opposition to the Young Plan and that it has caused unease in the bourse.
The image depicts a newspaper clipping from the Herald Tribune Berlin Bureau, dated March 7, 1930. The headline reads "Schacht Quits As Bank Head; Bourse Uneasy" and is attributed to John Elliott. The article discusses the resignation of Dr. Hjalmar Schacht as president of the Reichsbank, citing his opposition to the Young Plan. The article also mentions the impact of his resignation on the German business world and the reaction of the German Cabinet. The clipping appears to be a historical document, providing insight into the economic and political climate of Germany during the early 20th century.
The image presents a newspaper clipping from the New York Tribune, dated March 7, 1930, featuring an article titled "Schacht Quits As Bank Head; Bourse Uneasy." The article is written by John Elliott and reports on the resignation of Dr. Hjalmar Schacht as the president of the Reichsbank.
In summary, the image shows a newspaper clipping from the New York Tribune reporting on the resignation of Dr. Hjalmar Schacht as the president of the Reichsbank due to his opposition to the Young Plan. The article provides details on the circumstances surrounding his resignation and its impact on the financial markets.
The image presents a vintage newspaper clipping, likely from the 1930s, featuring a prominent headline that reads: "Schacht Quits As Bank Head; Bourse Uneasy." The article reports on the resignation of Dr. Hjalmar Schacht as president of the Reichsbank, Germany's central bank, and its impact on the stock market.
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Overall:
The image provides a glimpse into a significant event in German history, highlighting the political and economic tensions of the time. The clipping serves as a primary source, offering a firsthand account of the events surrounding Schacht's resignation and its consequences.