Saltzwedel sank a total of 111 merchant vessels or . On September 1, 1936, his name was given to the 2. Unterseebootsflottille of the Kriegsmarine in Wilhelmshaven to honour him.
In May 1915 he went to the U-boat school. Shortly afterwards joined the active units and served as commander of several U-boats. On August 20, 1917 he was awarded the Pour le Mérite for his achievements.
On September 18, 1917 he became Commanding officer of the UB-81 where he died onboard December 2 after UB-81 had ran on a mine.