Who was hjalmar schacht class 9

Montagu Norman, 1st Baron Norman

Governor of the Bank of England

Montagu Collet Norman, 1st Baron NormanDSOPC (6 September – 4 February ) was an English banker, best known for his role as the Governor of the Bank of England from to

Norman led the bank during the toughest period in modern British economic history and was noted for his somewhat raffish character and arty appearance.

A very influential figure, Norman, according to The Wall Street Journal, was referred to as "the currency dictator of Europe", a fact which he himself admitted to, before the Court of the Bank on 21 March [1] The economist and Court member John Maynard Keynes said of him: "Montagu Norman, always absolutely charming, always absolutely wrong".[2]

Early life and military service

Norman was the elder son of Frederick Norman and Lina Susan Penelope Collet, a daughter of Sir Mark Wilks Collet, 1st Baronet, himself a Bank of England Governor.

The Norman family was well known in banking. Montagu's brother Ronald Collet Norman and his nephew Mark Norman became leading bankers. Montagu's great-nephew David Norman has also led a successful City career and is a noted benefactor of the arts. Montagu Norman was educated at Eton and spent one year at King's College, Cambridge.[3] He also joined the 4th Bedfordshire and Hertfordshire militia in and served in the Second Boer War.

He was awarded the Distinguished Service Order in [4]

Merchant banking

After spending time in Europe, he joined Martins Bank in ; his father was a partner. In he joined Brown, Shipley & Co., where his maternal grandfather was a partner and, in , Brown Bros. & Co. of New York.

He became a partner at Brown Shipley in before leaving for South Africa. He retired from the bank in

Bank of England

He became a director of the Bank of England in and during World War I he was a financial advisor to government departments. He was appointed Deputy Governor in and he became Governor in He engineered the bank's takeover of the Anglo-Austrian Bank in Vienna and the creation of the Anglo-Czechoslovak Bank in Prague.

Under Norman, the bank underwent significant change. He was a supporter of the return to the gold standard, which he called "knaveproof",[5] in , despite the opposition of economist John Maynard Keynes.[6] In , at the height of the Great Depression, Norman commented, "Unless dramatic measures are taken to save it, the capitalist system throughout the civilized world will be wrecked within a year";[7][8] he borrowed $ million in an attempt to stave off speculative attacks upon the pound.[9] Later that year, however, the United Kingdom was forced to permanently abandon the gold standard after the publication of the May Report on the UK's budget deficit provoked a further financial crisis.[10] Norman was returning from a cruise to Canada at the time, and did not learn the news until he docked in the UK.[11]

Norman was a close friend of the German Central Bank President Hjalmar Schacht, who served in Hitler's government as President of the Reichsbank and Minister of Economics between and Norman was also so close to the Schacht family that he was godfather to one of Schacht's grandchildren.[12] Both were members of the Anglo-German Fellowship and the Bank for International Settlements.

Arthur seyss-inquart Loading Author Notes Checking series information Thanks to the United Kingdom 's intervention, Schacht's case that he was not in power at the time of the war and that he was not a Nazi led to his acquittal of all charges pressed against him. Retrieved 7 March

While in the past Norman's role in the transferring of Czech gold to the Nazi regime in March was uncertain, careful investigation by historian David Blaazer into the Bank of England's internal memos has established that Norman knowingly authorized the transfer of Czech gold from Czechoslovakia's No. 2 account with the Bank for International Settlements to the No.

17 account, which Norman was aware was managed by the German Reichsbank. Within ten days the money had been transferred to other accounts. In the fall of , two months after the outbreak of World War II, Norman again supported transfers of Czech gold to Hitler's Germany. On this occasion His Majesty's Government intervened to block Norman's initiative.[13] He retired from the bank in

Honours

Following his retirement, he was raised to the peerage as Baron Norman, of St Clere in the County of Kent, on 13 October [14] In addition to receiving the Distinguished Service Order, Norman was sworn of the Privy Council in [15] and was created a Grand Officer of the Order of the Crown.[16]

Personal life

On 2 November , Norman married Priscilla Cecilia Maria Reyntiens, London councillor and granddaughter of Montagu Bertie, 7th Earl of Abingdon.

He gained two stepsons from this marriage; Sir Simon Towneley and Sir Peregrine Worsthorne.

  • Hjalmar schacht pronunciation
  • Baldur von schirach
  • Hjalmar pronunciation

    • Lord Norman & Cecilia had no children and on his death he passed the bulk of his estate to his nephew, Brigadier Hugh Norman.

    In , while visiting his brother on his country estate in Hertfordshire, Norman went for a walk and tripped over, causing an injury from which he never recovered. There is an amusing anecdote contained in Bill Bryson's book, that he tripped over a cow, but it is unclear where this anecdote came from as it is not known within his family.[17]

    From , Norman's London home was Thorpe Lodge, Airlie Gardens off Campden Hill in Kensington, which had been built c Norman worked with Walter Knight Shirley and Ernest Gimson to modernise the house and redecorate it in the Arts and Crafts style.

    Lord Norman died at Thorpe Lodge in following a stroke. The house later became part of Holland Park School.[18]

    During his married life, he lived at the Manor of St Clere in Kemsing, Kent, which he acquired from his uncle in [19]

    1. ^Quigley, Carroll ().

      Tragedy & Hope. New York: The Macmillan Company. pp.&#; ISBN&#;.

    2. ^Kynaston, David (). City of London, volume 3: Illusions of Gold . Chatto and Windus. p.&#;
    3. ^"Norman, Montagu Collet (NRMNMC)". A Cambridge Alumni Database. University of Cambridge.
    4. ^"No.

      ". The London Gazette.

    5. Hjalmar schacht death
    6. Fritzsche
    7. Hjalmar schacht iq
    8. Hjalmar schacht pronunciation
    9. Schacht meaning

      10. 27 September p.&#;

    10. ^Nicholas Crafts, “Walking wounded: The British economy in the aftermath of World War I” dated 27 August at
    11. ^Skidelsky, Robert (). John Maynard Keynes&#;: the economist as saviour &#;: a biography. Macmillan. ISBN&#;.
    12. ^Howe, Quincy (). World Diary: .

      New York. p.&#;: CS1 maint: location missing publisher (link)

    13. ^Ahamed, Liaquat (19 March ). Lords of finance&#;: , the Great Depression, and the bankers who broke the world.

      Montagu norman hjalmar schacht biography Hjalmar Schacht. Joseph Goebbels. Loading Description His defenders argued that he was just a patriot, trying to make the German economy strong.

      Penguin Random House. p.&#;5. ISBN&#;. OCLC&#;

    14. ^Ahamed, Liaquat (19 March ). Lords of finance&#;: , the Great Depression, and the bankers who broke the world. Penguin Random House. p.&#; ISBN&#;.

      Hjalmar schacht pronunciation: Reviews from GoodReads. Schacht wrote 26 books [ 44 ] during his lifetime, of which at least six have been translated into English:. A2 A43 ab 1 available. Loading Excerpt

      OCLC&#;

    15. ^Ahamed, Liaquat (19 March ). Lords of finance&#;: , the Great Depression, and the bankers who broke the world. Penguin Random House. pp.&#;– ISBN&#;. OCLC&#;
    16. ^Ahamed, Liaquat (19 March ). Lords of finance: , the Great Depression, and the bankers who broke the world.

      Penguin Random House. p.&#; ISBN&#;. OCLC&#;

    17. ^Forbes, Neil (), Doing Business with the Nazis.
    18. ^Blaazer, David (). "Finance and the End of Appeasement: The Bank of England, the National Government and the Czech Gold".

      Erich raeder Petropoulos, Jonathan A2 A43 On Shelf. Therefore Abrechnung mit Hitler best translates as "Settling Accounts with Hitler", which is a double entendre in German that is missing from the English title. He was a fierce critic of his country's post- World War I reparations obligations.

      Journal of Contemporary History. 40 (1): 25– doi/ S2CID&#;

    19. ^"No. ". The London Gazette. 13 October p.&#;
    20. ^"No. ". The London Gazette. 29 June p.&#;
    21. ^"No. ". The London Gazette. 25 March p.&#;
    22. ^Bryson, Bill ().

      One Summer.

      Hans fritzsche Archived from the original on 13 February Boston: Houghton Mifflin Company. The district court found the publisher both civilly and criminally liable; on appeal, the appellate court reversed the criminal conviction, but found that the publisher had violated Schacht's general right of personality. Loading, please wait.

      London: Transworld Publishers. p.&#; ISBN&#;.

    23. ^"The Phillimore estate - British History Online". . Retrieved 7 March
    24. ^Cameron, Roderick (). Great Comp and its garden. London: Bachman and Turner Publications. pp.&#;– ISBN&#;.

    References

    Further reading

    • Ahamed, Liaquat, Lords of Finance: The Bankers Who Broke the World,Penguin Books, ISBN&#;
    • Boyle, Andrew, Montagu Norman.

      A Biography, Cassell,

    • Hargrave, John, Professor Skinner alias Montagu Norman, Wells Gardner, Darton & Co., [pub. ].

    External links