There can be no building up of a reserve of raw materials for the event of war, just as there can be no building up of foreign exchange reserves. The attempt is sometimes made today so to represent matters as though Germany went to war in 1914 with well-prepared stocks of raw materials. This is a lie. It is not possible for any State to assemble beforehand the quantities of raw materials necessary for war if the war lasts longer than, say, a year. If any nation were really in a position to assemble the quantities of raw material needed for a year, then its political, economic and military leaders would deserve to be hanged. For they would in fact be setting aside the available copper and iron in preparation for the conduct of a war, instead of manufacturing shells for that war. But Germany went into the World War without any reserves. What was available at that time in Germany in the way of apparent peace-time reserves was abundantly counterbalanced and rendered valueless by the miserable war-stocks of ammunition. Moreover, the quantities of raw materials that are needed for a war are so large that there has NEVER in the history of the world been a real stockpiling for a duration of any length! And as regards preparations in the form of piling up foreign exchange it is quite clear that:
1) War is capable of devaluing foreign exchange at any time, unless it is held in gold, and
2) There is not the least guarantee that gold itself can be converted in time of war into raw materials. During the World War Germany still possessed very large assets in foreign exchange in a great many countries. It was not, however, possible for our cunning economic policy-makers to bring to Germany, in exchange for them, fuel, rubber, copper or tin in any sufficient quantity. To assert the contrary is ridiculous nonsense. For this reason and for the reason that we must safeguard the feeding of our people, therefore, the following task presents itself as imperative:
It is not sufficient merely to draw up, from time to time, raw material or foreign exchange balances, or to talk about the preparation of a war economy in time of peace; on the contrary, it is essential to ensure peace-time food supplies and above all those means for the conduct of a war which it is possible to make sure of by human energy and activity. I therefore draw up the following programme for a final solution of our vital needs:
I. Like the military and political rearmament and mobilization of our people, there must also be an economic one, and this must be effected in the same tempo, with the same determination, and, if need be, with the same ruthlessness as well.
In future the interests of individual gentlemen can no longer be allowed to play any part in these matters. There is only one interest and that is the interest of the nation, and only one single view, which is that Germany must be brought politically and economically into a state of self-sufficiency.
II. For this purpose, in every sphere where it is possible to satisfy our needs through German production, foreign exchange must be saved in order that it can be applied to those requirements which can under no circumstances be supplied except by imports.
III. Accordingly, German fuel production must now be stepped up with the utmost speed and be brought to final completion within 18 months. This task must be attacked and carried out with the same determination as the waging of a war; for on its solution depends the conduct of the future war and not on the laying in of stocks of petroleum.
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