Reshuffling of Portfolios: Schacht Resigns

Hjalmar Schacht, Minister of Economic Affairs and the governor of the German Central bank-who until then had restrained the economic assault on the Jews for pragmatic reasons (to protect the German economy)-resigned his portfolio as Minister for Economic Affairs. This resignation was the first stage in a round of new appointments in which party hard-liners replaced relative moderates in key positions. In early 1938, the foreign minister and the defense minister also resigned, and the army command was reshuffled.