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(1877 – 1970) German financier and banker who engineered the rearmament of Germany. Broke with Hitler and joined the resistance when Germany went to war. Acquitted at Nuremberg. S.P., 9″ x 11 1/2″ b/w, a chest-up view of Schacht speaking later in life. He signs at lower left in black ink, and also on the verso adding the place and date “Stuttgart 23.1.70″