Partial translation of document 3505-PS

            WALTER FUNK:  A LIFE FOR THE ECONOMY
    [By Dr. P. Oestreich, Central Publishing House of the
            NSDAP, Franz Eher, succ. Munich 1941.

[Pages 77-78]

The either or that has arisen out of these articles was no
longer binding for Funk for quite some time. It was a
concession to the tradition of the Boersen Zeitung to keep
itself above the parties that advocated the national idea in
one form or another. It was the last concession he made in
his association with the Boersen Zeitung. On 31 December
1930 he resigned and became a member of the party of Adolf
Hitler.

[Page 80]

The Fuehrer had made up his mind already. Immediately after
Funk’s connection with the Boersen Zeitung on 31 December
1930 was severed, he appointed him a member of the Reich
leadership of the party and chose him as his personal
economic adviser. This was proof of his greatest confidence.

[Page 81]

It was for Funk not only a very honorable but also a very
important duty to be advisor and special official to the
Fuehrer and he served enthusiastically with all his power
and knowledge. In 1931 he became a member of the Reichstag.
The document of his activity at the time is: “Economic
construction program of the NSDAP” which was formulated by
him in the second half of the year 1932. It received the
approval of Adolf Hitler and was declared binding for all
Gau-leaders, speakers on the subject and Gau-advisers on the
subject and others of the party.

[Page 82]

Funk at the time gave the party speakers the following
fundamental sentences on their way. We have sufficient
national capital in Germany. We can furthermore by working
produce new capital. Therefore our people can live and
develop. We can and must forego international capital and we
have furthermore the duty to
liberate the German economy from the bonds of international
capital. The German agriculture and the whole German economy
can only be developed through the National State.

Only a Government which has the full confidence of the
people can force through the necessary reconstruction of the
German economy and can with ruthless consequence promote the
national and socialistic principles which only the National
Socialist movement of Adolf Hitler is calling its own.

[Page 83]

 No less important than Funk’s accomplishments in the
programmatic field in the years 1931 and 1932, was his
activity at that time as the Fuehrer’s liaison man to the
leading men of the German economy in industry, trade,
commerce and finance. On the basis of his past work his
personal relations to the German economic leaders were broad
and extensive. He was now able to enlist them in the service
of Adolf Hitler, and not only to answer their questions
authoritatively, but to convince them and win their backing
for the Party. At that time, that was terribly important
work. Every success achieved meant a moral, political, and
economic strengthening of the fighting force of the Party
and contributed toward destroying the prejudice that
National Socialism is merely a party of class hatred and
class struggle.

The public sees or knows very little or nothing about such
activities. But the Fuehrer has made it quite evident that
he was well satisfied with Walter Funk in these two years of
the decisive battle before the ascendancy to power. In the
most convincing form probably at the moment of victory. When
he received on the historic 30th January 1933 in the evening
the jubilant demonstration of the masses, standing at the
window of the shortly before occupied Reich Chancellery he
had in the brightly lighted windows beside him his most
loyal disciples and one of them was Walter Funk who had
greeted the Fuehrer together with the then Secretary of the
Reich Chancellery later the Reich Minister Dr. Lammers, at
the entrance to the Reich Chancellery after the historic
journey from the Kaiserhof to the Reich Chancellery in the
afternoon of 30th January 1933. In the late afternoon the
first Cabinet Meeting took place under the Presidency of the
Reich Chancellor Adolf Hitler at which Funk already
participated as Press Chief of the Reich Government. Since
then there has not been any meeting of the Cabinet at which
Walter Funk did not participate first as Press Chief and
Secretary of State, later as Reich Minister.

[Pages 90-91]

The fact that Funk was appointed by the Fuehrer Press Chief
of the Reich Government was not only in consideration that
he was an experienced and shrewd journalist who knew the
press and newspaper business extremely well. It is certain
that the decision of the Fuehrer was influenced also by the
consideration that he saw Funk as the man suited for the
daily report to Reich President von Hindenburg. In fact,
Funk has discharged this duty, especially in the first
months of Adolf Hitler’s government, very successfully and
with merit. The veteran General Field Marshall had
confidence in his East Prussian countryman from the
beginning.

[Page 91]

Many times the Fuehrer entrusted Funk with a special task at
the Reich President.

[Page 92]

On 13 March 1933 the press department of the Reich
Government with a small personnel of approximately 30
persons was incorporated into the Reich Ministry for Public
Enlightenment and Propaganda, of which the propaganda leader
of the party, Dr. Joseph Goebbels became Minister. Funk
became his Under-Secretary. On this date there commenced a
new and important part in the life of Walter Funk. His
sphere of duties was multiplied even if the current
importance of the position of Press Chief of the Reich
Government may naturally diminish considerably behind the
position of the new Minister for the press.

[Page 93]

For almost five years Walter Funk has been the Under-
Secretary of this Ministry and naturally has decisively
influenced its organization and work. In this task his
singleness of purpose and his quiet considered judgment
which were already proven when he built up the commerce
section of the Berlin Boersen Zeitung was very useful to
him. He knows how to organize without getting nervous and
without making anybody nervous. But he had to accomplish
besides quite a number of special duties which many times
had a very strong economic colouring. In this way he became
Vice President of the Reich Chamber for Culture, first
member of the Senate for Culture, Chairman of the Board of
the Reich Broadcasting Company, the Publicity Council of the
German economy, the Film Bank, the Berlin Philharmonic
Orchestra and many other political, economic and social
institutes. These
 were not only positions of honor but many times difficult
and patient reconstruction work had to be done.

[Page 94]

a. Besides Funk had as a special duty from his Ministry
received the task to take care of the cultural life. In this
position he organized quietly a tremendous concern which
represented an investment of many hundreds of millions. In
close co-operation with the Reich Leader of the press, Max
Amann, the economic fundamentals of the German press were
reconstructed according to the political necessities. The
same took place in the film industry and in other cultural
fields.

The very harmonious co-operation between the Minister Dr.
Goebbels and his Under-Secretary which lasted almost five
years, became visible before all the world in the success of
the Ministry of which the influence and sphere of work grew
from year to year.

[Page 106]

The change from the peace economy to war economy which Funk
had to accomplish in his capacity as Plenipotentiary for the
Economy took place almost without a hitch. The methods of
directing the economy which have proven so successful
already during the last years of peace now proved themselves
also in the war economy.

[Page 106]

The third task which was put up to the Reichsbank President
Funk was accomplished through the new law concerning the
Reichsbank of 15 June 1939.

[Page 110]

Adolf Hitler has done away with this Dawes Constitution by
degrees the same as with many other shameful regulations of
the enemies. He made the final decision when he gave the
order to Reichsbank President Funk to organize the
Reichsbank in accordance with the National Socialist
principles. He should continue the process that was
commenced already by a law in 1937 of changing the status of
the Reichsbank under the Dawes Plan as an institution which
was partly excluded from the sovereignty of the German Reich
to an institution which was completely and unconditionally
under the sovereignty of the German Reich.

The draft which Funk transmitted to the Fuehrer was made a
law by him on 15 June 1939.

[Page 111]

As one can see the new Reichsbank law has fully
reconstituted the German sovereignty over the Reichsbank.
But it has done another very important thing. It has done
away with gold and gilt edged foreign exchange in its
governing position concerning the question of covering the
currency circulation. Gold must not be any more the decisive
part of the cover which automatically governs the amount of
the lawful circulation of notes but it can be used by the
bank as a means to cover and there should be kept a certain
amount for the regulation of the currency exchange with
foreign countries and for the consolidation of the currency.
Gold, therefore, is according to the new German Reichsbank
law formally what it already was for a long time in fact,
that is, the international means of clearing. For the
internal use of the countries over the whole world it is
hardly employed to any worth while extent. Paper money has
taken its place but in Germany the State determines the
value of the money and not international powers.