By Kerry Bolton Although it is not popular to mention anything of an objective nature regarding the National Socialist regime in Germany, no conclusion regarding banking reform can honestly leave out an understanding of the German economic recovery and prosperity during the 1930s, whilst the rest of the world languished in in depression. A.J.P. Taylor, who was hardly pro-German let alone pro-Hitler said, citing a Rand Corporation economist that: German recovery was caused by a return of private consumption and non-war types of investment .... until the Spring of 1936 rearmament was largely a myth. Gotfried Feder was a leading proponent of monetary reform and became a founder member of the NSDAP. Under Feder's tuition Hitler came to understand the distinction between capital arising from creative effort and capital accrued through mere speculation. Hitler later said: "We were not foolish enough to try to make a currency coverage of gold of which we had none, but for every mark that was issued we required an equivalent of a mark's worth of work done or goods produced ... we have come to learn that the value of currency lies in the productive capacity of a nation."
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