Following the Kristallnacht of November 1938, Schacht publicly declared his repugnance at the events, and suggested to Hitler that he should use other means if he wanted to be rid of the Jews. He put forward a plan in which Jewish property in Germany would be held in trust, and used as security for loans raised abroad, which would also be guaranteed by the German government. Funds would be made available for emigrating Jews, in order to overcome the objections of countries that were hesitant to accept penniless Jews. Hitler accepted the suggestion, and authorised him to negotiate with his London contacts. Schacht, in his book "The Magic of Money" (1967), wrote that Montagu Norman, governor of the Bank of England, and Lord Bearstead, a prominent Jew, had reacted favourably, but Chaim Weizmann, leading spokesman for the Zionist movement in Britain, opposed the plan.