Hermann Dietrich
Hermann Robert Dietrich (14 December 1879 – 6 March 1954) was a German politician of the liberal German Democratic Party and served as a minister during the Weimar Republic.
Finance Minister of Germany
In 1930, Dietrich succeeded Paul Moldenhauer as Finance Minister of the Weimar Republic.
In the midst of the Great Depression, Dietrich became the "chief proponent" of government contracts in 1930 in an attempt to offset the drastic increase in unemployment. Because the contracts were contingent on the reduction of prices, he and the Provisional National Economic Council had to authorise the reduction of wages in the German industrial community. Dietrich, along with the economists Heinrich Brüning and Adam Stegerwald, firmly believed that accelerating the pace of the agricultural sector at the cost of Germany's industrial capacity would solve unemployment.
During President Paul von Hindenburg's bid for re-election, Dietrich was one of few elites in the cabinet barred from speaking at the president's candidacy campaigns for allegedly being "too far left".
References
External links
- Newspaper clippings about Hermann Dietrich in the 20th Century Press Archives of the ZBW