|
German Rentenmark
The Rentenmark (; RM) was a currency issued on 15 October 1923 to stop the hyperinflation of 1922 and 1923 in Weimar Germany, after the previously used "paper" Mark had become almost worthless. It was subdivided into 100 ''Rentenpfennig'' and was replaced in 1924 by the Reichsmark. History After the Occupation of the Ruhr in early 1923 by French and Belgian troops, referred to as the ''Ruhrkampf'', the German government of Wilhelm Cuno reacted by announcing a policy of passive resistance. This caused the regional economy of the Ruhr, the industrial heartland of Germany, to almost stop. The occupation authorities reacted to strikes and sabotage with arrests and deportations. Those displaced and left without income by the ''Ruhrkampf'' and their families fell back on public income support. Tax revenues plunged as economic activity slowed. The government covered its need for funds mainly by printing money. As a result, inflation spiked and the Papiermark went into freefall on the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pfennig
The 'pfennig' (; . 'pfennigs' or ; symbol pf or ₰) or penny is a former German coin or note, which was the official currency from the 9th century until the introduction of the euro in 2002. While a valuable coin during the Middle Ages, it lost its value through the years and was the minor coin of the Mark currencies in the German Reich, West and East Germany, and the reunified Germany until the introduction of the euro. Pfennig was also the name of the subunit of the Danzig mark (1922–1923) and the Danzig gulden (1923–1939) in the Free City of Danzig (modern Gdańsk, Poland). Overview Name The word ''Pfennig'' (replacing the ''denarius'' or ''denarius'' as a low-denomination silver coin) can be traced back to the 8th century and also became known as the ''Penning'', ''Panni(n)g '', ''Pfenni(n)c'', ''Pfending'' and by other names, e.g. in Prussia until 1873, ''Pfenning''. The ''-ing''- or ''-inc'' suffix was used, in addition to ''-ung'', the formation of affil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rudolf Hilferding
Rudolf Hilferding (10 August 1877 – 11 February 1941) was an Austrian-born Marxism, Marxist economist, Socialism, socialist theorist,International Institute of Social History, ''Rodolf Hilferding Papers''. http://www.iisg.nl/archives/en/files/h/10751012.php politician and the chief theoretician for the Social Democratic Party of Germany (SPD) during the Weimar Republic,William Smaldone, Smaldone, William, ''Rudolf Hilferding and the total state.'', 1994. http://www.encyclopedia.com/doc/1G1-15867926.html being almost universally recognized as the SPD's foremost theoretician of this century.David E. Barclay, Eric D. Weitz, Michael Kreile. ''Between Reform and Revolution: German Socialism and Communism from 1840 to 1990'' https://books.google.com/books?id=hpzno0qNY34C&pg=PA373 He was also a physician. He was born in Vienna, where he received a doctorate having studied medicine. After becoming a leading journalist for the SPD, he participated in the German Revolution of 1918–19, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1924 In Germany
The following lists events that happened during 1924 in the Weimar Republic. Incumbents National level President *Friedrich Ebert (Social Democrats) Chancellor *Wilhelm Marx ''(1st term)'' (Centre) Events * 4 January – The Emminger Reform is enacted that abolished the jury system and replaced it with a mixed system of judges and lay judges. * 31 January – Leaders of independent republic of the Rhineland Palatinate attempting to formally secede from Germany fails from lack of support. * 23 February – Great Britain reduces German reparation recovery duties on German goods to 5% due to Germany's economic troubles. * 26 February – The trial of Adolf Hitler for the Beer Hall Putsch begins and will last until 1 April. * 3 March – Germany signs a treaty of friendship with Turkey. * 4 May – German federal election, May 1924 * 26 May – Wilhelm Marx's government resigns after negotiations breakdown for a coalition. * 6 June – Germany accepts Dawes Plan, a US plan to help ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Third Reich
Nazi Germany (lit. "National Socialist State"), ' (lit. "Nazi State") for short; also ' (lit. "National Socialist Germany") (officially known as the German Reich from 1933 until 1943, and the Greater German Reich from 1943 to 1945) was the German state between 1933 and 1945, when Adolf Hitler and the Nazi Party controlled the country, transforming it into a dictatorship. Under Hitler's rule, Germany quickly became a totalitarian state where nearly all aspects of life were controlled by the government. The Third Reich, meaning "Third Realm" or "Third Empire", alluded to the Nazi claim that Nazi Germany was the successor to the earlier Holy Roman Empire (800–1806) and German Empire (1871–1918). The Third Reich, which Hitler and the Nazis referred to as the Thousand-Year Reich, ended in May 1945 after just 12 years when the Allies defeated Germany, ending World War II in Europe. On 30 January 1933, Hitler was appointed chancellor of Germany, the head of government, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weimar Republic
The Weimar Republic (german: link=no, Weimarer Republik ), officially named the German Reich, was the government of Germany from 1918 to 1933, during which it was a constitutional federal republic for the first time in history; hence it is also referred to, and unofficially proclaimed itself, as the German Republic (german: Deutsche Republik, link=no, label=none). The state's informal name is derived from the city of Weimar, which hosted the constituent assembly that established its government. In English, the republic was usually simply called "Germany", with "Weimar Republic" (a term introduced by Adolf Hitler in 1929) not commonly used until the 1930s. Following the devastation of the First World War (1914–1918), Germany was exhausted and sued for peace in desperate circumstances. Awareness of imminent defeat sparked a revolution, the abdication of Kaiser Wilhelm II, formal surrender to the Allies, and the proclamation of the Weimar Republic on 9 November 1918. In its i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bronze
Bronze is an alloy consisting primarily of copper, commonly with about 12–12.5% tin and often with the addition of other metals (including aluminium, manganese, nickel, or zinc) and sometimes non-metals, such as phosphorus, or metalloids such as arsenic or silicon. These additions produce a range of alloys that may be harder than copper alone, or have other useful properties, such as ultimate tensile strength, strength, ductility, or machinability. The three-age system, archaeological period in which bronze was the hardest metal in widespread use is known as the Bronze Age. The beginning of the Bronze Age in western Eurasia and India is conventionally dated to the mid-4th millennium BCE (~3500 BCE), and to the early 2nd millennium BCE in China; elsewhere it gradually spread across regions. The Bronze Age was followed by the Iron Age starting from about 1300 BCE and reaching most of Eurasia by about 500 BCE, although bronze continued to be much more widely used than it is in mod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rentenbank
The Deutsche Rentenbank was a bank established in Germany by a regulation of 15 October 1923 as a state-owned monetary authority authorised to issue Rentenmark currency notes following the collapse of the private Reichsbank's Papiermark currency. The Rentenbank reserves consisted of mortgages against leading industrial properties and the German public accepted these reserves as being sound. This meant that the monetary crisis caused by the public's lack of confidence in the currency of the Reichsbank waned and the hyperinflation In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as t ... ceased. The Rentenmarks continued to be accepted as currency in Germany until 1947. External links * Act creating the Deutschen RentenbanReichsgzetzblatt Teil I, 17 October 1923* Banks of Germany ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dawes Plan
The Dawes Plan (as proposed by the Dawes Committee, chaired by Charles G. Dawes) was a plan in 1924 that successfully resolved the issue of World War I reparations that Germany had to pay. It ended a crisis in European diplomacy following World War I and the Treaty of Versailles. The plan provided for an end to the Franco-Belgian occupation of the Ruhr, and a staggered payment plan for Germany's payment of war reparations. Because the Plan resolved a serious international crisis, Dawes shared the Nobel Peace Prize in 1925 for his work. The Dawes Plan was put forward and was signed in Paris on August 16, 1924. This was done under the Foreign Secretary of Germany, Gustav Stresemann. Stresemann was Chancellor after the Hyperinflation Crisis of 1923 and was in charge of getting Germany back to its global reputation for being a fighting force. However, he resigned from his position as Chancellor in November 1923 while remaining Foreign Secretary of Germany. Background: World Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Reichsmark
The (; sign: ℛℳ; abbreviation: RM) was the currency of Germany from 1924 until 20 June 1948 in West Germany, where it was replaced with the , and until 23 June 1948 in East Germany, where it was replaced by the East German mark. The Reichsmark was subdivided into 100 s (Rpf or ℛ₰). The Mark is an ancient Germanic weight measure, traditionally a half pound, later used for several coins; whereas (''realm'' in English), comes from the official name for the German state from 1871 to 1945, . History The Reichsmark was introduced in 1924 as a permanent replacement for the Papiermark. This was necessary due to the 1920s German inflation which had reached its peak in 1923. The exchange rate between the old Papiermark and the Reichsmark was = 1012 ℳ (one trillion in American English and French, one billion in German and other European languages and British English of the time; see long and short scale). To stabilize the economy and to smooth the transition, the Papierma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discounting
Discounting is a financial mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee.See "Time Value", "Discount", "Discount Yield", "Compound Interest", "Efficient Market", "Market Value" and "Opportunity Cost" in Downes, J. and Goodman, J. E. ''Dictionary of Finance and Investment Terms'', Baron's Financial Guides, 2003. Essentially, the party that owes money in the present purchases the right to delay the payment until some future date.See "Discount", "Compound Interest", "Efficient Markets Hypothesis", "Efficient Resource Allocation", "Pareto-Optimality", "Price", "Price Mechanism" and "Efficient Market" in Black, John, ''Oxford Dictionary of Economics'', Oxford University Press, 2002. This transaction is based on the fact that most people prefer current interest to delayed interest because of mortality effects, impatience effects, and salience effects. The discount, or charge, is the difference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. Some jurisdictions allow contract law to overrule the status of legal tender, allowing (for example) merchants to specify that they will not accept cash payments. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. Some jurisdictions may forbid or restrict payment made by other than legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> German Rentenmark")
.svg "Click for more on -> Weimar Republic")
