Schacht's Management of the German Economy In 1933 Germany was facing many economic problems, the main goals of the Nazi party were to deal with the severe depression and solve growing German unemployment. Germany has poor economic and social organization, Hitler wanted to solve this problem so that the German economy was oriented towards war. Another problem was the need to balance deficit payments, the economy needed to recover to increase demand for consumer goods and also to carry out rearmament through increased demand for raw materials. The high-value world market was protectionist and made it difficult to increase exports at the time. There was a real danger of inflation as there was already a growing demand for more money and products. Protectionist trade meant that countries would only trade in their own currency, Germany did not have this foreign currency. Hitler's priorities were to create more jobs, starting, for example, house and highway building programs in 1932, this work was paid for by the state. All this created another problem that I mentioned above, the trade deficit. Germany exported more than it imported, and in 1934 a new plan was launched that gave the government strong powers in regulating imports and foreign exchange. The man responsible for this "New Plan" that helped overcome the immediate trade problem. Schacht was the person to whom Hitler entrusted the management of the economy in 1933, he was director of the National Bank in 1916 and president of the Reich Bank in 1923. After reading Mein Kampf, he saw Hitler as a savior, generated funds for the Nazi party and, as I have already said, became economics minister in 1934. Tax breaks for workers meant that more people wanted to work in this environment. Hitler opened the trade unions to all members; this meant that the economy was stimulated by the independence and confidence of workers. Hitler extended many public works projects, such as the construction of houses and highways in 1932. Since there were now subsidies to hire more workers in the private sector, this opened up jobs