Dr. Schacht's Exit Herr Hitler has at length accepted Dr.
Schacht's resigna- tion as Minister for Economic Affairs ; but this formal release from his duties merely recognises officially a position which in fact has existed for some time. Dr. Schacht remains President of the Reichsbank, but his term of office expires next year, and his influence on economic affairs is likely to be purely nominal. General Goring, as director of the " Four-year Plan," is now in complete control ; Dr. Schacht's place will be occupied by Herr Funk, hitherto chief of the Propaganda Department, acceptable to the Party and thought to be an enemy of private industry. Neither he nor General Goring has the technical ability which enabled Dr. Schacht to build up and operate his remarkable system of trade regulation. But in fact Dr. Schacht's virtuosity may no longer be wanted ; for General Goring's first task as controller of the Four-year Plan is to cut down Germany's imports, which have risen considerably during the last year. On this question, Dr. Schacht and General Goring are probably in fundamental disagreement ; and to this must be added, among reasons for Dr. Schacht's departure, the increasingly bureaucratic organisation of Germany's economic life.
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