From almost the moment Adolf Hitler took office as chancellor of Germany, tariffs were at the top of his government’s economic agenda. The agricultural sector’s demands for higher tariffs “must be met,” Hitler’s economic minister, Alfred Hugenberg, declared on Wednesday, February 1, 1933, just over 48 hours into Hitler’s chancellorship, “while at the same time preventing harm to industry.”
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Hitler had what one might call a diffident, occasionally felonious disregard for financial matters. He owed 400,000 reichsmarks in back taxes. His understanding of economics was primitive. “You have inflation only if you want it,” Hitler once said. “Inflation is a lack of discipline.