| Budget Amount *help |
¥2,000,000 (Direct Cost: ¥2,000,000)
Fiscal Year 2005: ¥800,000 (Direct Cost: ¥800,000)
Fiscal Year 2004: ¥1,200,000 (Direct Cost: ¥1,200,000)
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| Research Abstract |
Public savings bank in the Nazi regime was regarded as a reservoir for the national capital formation and was therefore gradually submitted to the state intervention of the credit control, which aimed at financing to armaments industries. After the financial crisis in July 1931, the savings bank was already regulated by the bank supervision and the interest rate policy of the government. Since Hitler seized a political power in January 1933, the whole country savings bank organization was influenced by personal connections of the Reich government and the Nazi party. For the year of 1935, the government and the Reichsbank tried to decide the policy that bills (Arbeitsbeschaffungs-und Mefowechsel) to possess should be changed by long-term national bond and that the latter should be bought with the liquidity reserve of savings banks. They were forced to manage public bonds, so that their fund, namely, indirectly contributed to the armament finance. But the debt structure conversion from the short to the long-term credit continued only incompletely, because the saving amount expansion was prevented from the tax increase and the preference of other securities and bonds. From 1936 to 39, armament finance of Vierjahresplan was developed due to the continuation of the short bond issues, direct canal from credit institutions and the financial policy of tax increase. The savings bank organization was directly controlled by the war ministry of central government after the beginning of the World War II, under a state intervention into credit market and credit institutions with the aim of armament.
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