Reichsmarks) with a subsidy of 25 per cent. This would cost 60 million Reichsmarks per month, of which at most 40 million could be raised from Germany’s foreign creditors.76 The rest would have to come more or less directly from the coffers of the Reich. Given the general stress on the Reich’s finances and the likelihood of accusations of dumping, this was as Schacht acknowledged ‘a measure of absolute desperation’.
