Meaning: The quote you provided is from Hjalmar Schacht, a prominent German economist and banker who played a significant role in the economic policies of Nazi Germany. The quote reflects Schacht's perspective on the importance of maximizing foreign exchange returns and securing raw material supplies through exporting, especially in the context of rapidly elevating a country's armament level.

Hjalmar Schacht's views on economic policy were shaped by the tumultuous period in which he lived, particularly the aftermath of World War I and the Great Depression. As the president of the Reichsbank and Minister of Economics in Germany during the early 1930s, Schacht implemented various measures to stabilize the country's economy, including the introduction of the "MEFO bills" to finance rearmament and infrastructure projects. His economic strategies aimed to address the challenges Germany faced, such as high unemployment, hyperinflation, and the limitations imposed by the Treaty of Versailles.

In the quote you provided, Schacht emphasizes the urgency of rapidly increasing the armament level, implying a militaristic context that was prevalent in Germany during his time in power. The prioritization of maximizing foreign exchange returns and ensuring a steady supply of raw materials through exporting aligns with the economic objectives of a country gearing up for war and seeking to strengthen its industrial and military capabilities.

The concept of "as large returns as possible in foreign exchange" underscores the importance of generating significant revenues from international trade. Schacht recognized the critical role of foreign exchange in financing the rearmament efforts and addressing the economic needs of the country. By emphasizing the pursuit of large returns, he underscored the necessity of leveraging international trade to bolster Germany's financial resources.

Furthermore, Schacht's emphasis on "the greatest possible assurance of raw material supplies, through exporting" reflects his recognition of the vital role that access to raw materials played in supporting Germany's industrial and military expansion. During that period, securing access to essential resources such as oil, iron, and other materials was crucial for sustaining the country's war machine and overall economic development. Exporting goods in exchange for raw materials was a strategic approach to ensure a reliable supply chain for German industries.

It is important to acknowledge the broader historical context in which Schacht's economic philosophy and policies operated. The rise of militarism and the pursuit of autarky, or economic self-sufficiency, were central themes in Nazi Germany's economic strategy. Schacht's quote reflects the intersection of economic considerations with the militaristic ambitions of the Nazi regime, highlighting the intertwined nature of economics and geopolitics during that era.

In conclusion, Hjalmar Schacht's quote encapsulates his economic outlook within the specific historical circumstances of pre-World War II Germany. His emphasis on maximizing foreign exchange returns and securing raw material supplies through exporting underscores the economic imperatives of a nation preparing for military conflict. Understanding the context and implications of Schacht's quote provides valuable insights into the economic policies and priorities of Nazi Germany during a pivotal and tumultuous period in world history.