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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] |
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] |
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 Papierm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hyperinflation In The Weimar Republic
Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923. It caused considerable internal political instability in the country, the occupation of the Ruhr by France and Belgium, and misery for the general populace. Background To pay for the large costs of the ongoing First World War, Germany suspended the gold standard (the convertibility of its currency to gold) when the war broke out. Unlike France, which imposed its first income tax to pay for the war, German Emperor Wilhelm II and the Reichstag decided unanimously to fund the war entirely by borrowing. The government believed that it would be able to pay off the debt by winning the war and imposing war reparations on the defeated Allies. This was to be done by annexing resource-rich industrial territory in the west and east and imposing cash payments to Germany, similar to the French indemnity that followed German victory over France in 1870.Evans, p. 103 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Papiermark
The Papiermark (; 'paper mark', officially just ''Mark'', sign: ℳ) was the German currency from 4 August 1914 when the link between the Goldmark and gold was abandoned, due to the outbreak of World War I. In particular, the Papiermark was the currency issued during the hyperinflation in Germany of 1922 and 1923. History From 1914, the value of the mark fell. The rate of inflation rose following the end of World War I and reached its highest point in October 1923. The currency stabilized in November 1923 after the announcement of the creation of the Rentenmark, although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1 trillion (1012)-ℳ to RM1. On 30 August 1924 the Rentenmark was replaced by the Reichsmark. In addition to the issues of the government, emergency issues of both tokens and paper money, known as ''Kriegsgeld'' (war money) and ''Notgeld'' (emergency money), were produced by local authorities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Papiermark
The Papiermark (; 'paper mark', officially just ''Mark'', sign: ℳ) was the German currency from 4 August 1914 when the link between the Goldmark and gold was abandoned, due to the outbreak of World War I. In particular, the Papiermark was the currency issued during the hyperinflation in Germany of 1922 and 1923. History From 1914, the value of the mark fell. The rate of inflation rose following the end of World War I and reached its highest point in October 1923. The currency stabilized in November 1923 after the announcement of the creation of the Rentenmark, although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1 trillion (1012)-ℳ to RM1. On 30 August 1924 the Rentenmark was replaced by the Reichsmark. In addition to the issues of the government, emergency issues of both tokens and paper money, known as ''Kriegsgeld'' (war money) and ''Notgeld'' (emergency money), were produced by local authorities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Papiermark
The Papiermark (; 'paper mark', officially just ''Mark'', sign: ℳ) was the German currency from 4 August 1914 when the link between the Goldmark and gold was abandoned, due to the outbreak of World War I. In particular, the Papiermark was the currency issued during the hyperinflation in Germany of 1922 and 1923. History From 1914, the value of the mark fell. The rate of inflation rose following the end of World War I and reached its highest point in October 1923. The currency stabilized in November 1923 after the announcement of the creation of the Rentenmark, although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1 trillion (1012)-ℳ to RM1. On 30 August 1924 the Rentenmark was replaced by the Reichsmark. In addition to the issues of the government, emergency issues of both tokens and paper money, known as ''Kriegsgeld'' (war money) and ''Notgeld'' (emergency money), were produced by local authorities ... [...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] |
Weimar Germany
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 republic, 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 German Revolution of 1918–1919, revolution, the Abdication of Wilhelm II, abdication of Kaiser Wilhelm II, formal surrender Allie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Short Scale
The long and short scales are two of several naming systems for integer power of 10, powers of ten which use some of the same terms for different magnitudes. For whole numbers smaller than 1,000,000,000 (109), such as one thousand or one million, the two scales are identical. For larger numbers, starting with 109, the two systems differ. For identical names, the long scale proceeds by powers of one million, whereas the short scale proceeds by powers of one thousand. For example, in the short scale, "one billion" means one thousand millions (1,000,000,000), whereas in the long scale, it means one million millions (1,000,000,000,000). For interleaved values, the long scale system employs additional terms, typically substituting the word ending -ion for -iard. Some languages, particularly in East Asia and South Asia, have large number naming systems that are different from both the long and short scales, such as Chinese numerals, Chinese, Japanese numerals#Powers of 10, Japan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hans Luther
Hans Luther () (10 March 1879 – 11 May 1962) was a German politician and Chancellor of Germany for 482 days in 1925 to 1926. As Minister of Finance he helped stabilize the Mark during the hyperinflation of 1923. From 1930 to 1933, Luther was head of the Reichsbank and from 1933 to 1937 he served as German Ambassador to the United States. Early life Hans Luther was born in Berlin on 10 March 1879 into a Lutheran family as the son of Otto (1848–1912), a well-off merchant, and Wilhelmine Luther (née Hübner). After attaining the ''Abitur'' at the Leibniz-Gymnasium/Berlin, Luther studied law at Geneva, Kiel and Berlin from 1897 to 1901. His teachers included Otto von Gierke, Franz von Liszt, Heinrich Brunner, Gustav von Schmoller and Hugo Preuss. In 1904, Luther was awarded a Dr.jur. for his dissertation ''Die Zuständigkeit des Bundesrats zur Entscheidung von Thronstreitigkeiten innerhalb des Deutschen Reiches''. He passed the ''Assessor'' exam in 1906 and worked in the Pruss ... [...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] |
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] |
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