Schacht, Horace Greeley Hjalmar (1877–1970)

Abstract

Raised in an atmosphere of open-minded, liberal thinking in his family and of national patriotism among the general public, Schacht studies history of literature, German language and finally economics. Besides this he gained an education as a journalist. The theme of his doctoral thesis, ‘Der theoretische Gehalt des englischen Merkantelismus’, forced him to deepen his knowledge of finance, credit systems and foreign trade policy, which was relevant for his work in the years that followed. In 1903 he became an employee of the Dresdner Bank and in 1916 a member of the board of directors of the National Bank, which after its fusion with the Darmstädter Bank was one of the biggest banks in Germany.