2-490-604 - Historisk Bildbyrå/Mustang media/Heritage Images

Kurt Schmitt, German Reich Economy Minister, c1933-c1934. Schmitt (1886-1950) was Chairman of the board of directors of the Allianz AG insurance company from 1921 until 1933. He became convinced that the Nazis were best equipped to deal with the problems of the German economy, and was instrumental in fostering links between the party and business and industrial leaders. He formally joined the Nazi Party in 1933 and in June of that year was appointed Reich Economy Minister. He suffered a heart attack in June 1934 and relinquished his ministerial post in January 1935.