Following the Kristallnacht of November 1938 , Schacht publicly declared his repugnance at the events , and suggested to Hitler that he should use other means if he wanted to be rid of the Jews . He put forward a plan in which Jewish property in Germany would be held in trust , and used as security for loans raised abroad , which would also be guaranteed by the German government . Funds would be made available for emigrating Jews , in order to overcome the objections of countries that were hesitant to accept penniless Jews . Hitler accepted the suggestion , and authorised him to negotiate with his London contacts . Schacht , in his book '' The Magic of Money '' ( 1967 ) , wrote that Montagu Norman , governor of the Bank of England , and Lord Bearstead , a prominent Jew , had reacted favourably , but the spiritual leader of the London Jews , Chaim Weizmann , opposed the plan . A component of the plan was that emigrating Jews would have taken items such as machinery with them on leaving the country , as a means of boosting German exports . The similar Haavara Agreement had been signed in 1933
Kristallnacht
Kristallnacht
Hjalmar Schacht