weimar republic hyperinflation 1 one trillion paper marks per gold mark. note logarithmic scale
germany, 1923: banknotes had lost value used wallpaper.
after treaty of versailles, formally ended world war in 1919, germany faced damaged economy , requirement pay immense war reparations allies. @ beginning of 1921, german currency relatively stable @ 60 marks per dollar, inflation rapidly increased after august 1921, , mark fell less 1 third of cent november 1921 (approx. 330 marks per dollar). mark stabilized again @ beginning of 1922, when there no resolution reparations problem inflation changed hyperinflation , mark fell 8000 marks per dollar december 1922. inflation reached peak november 1923 when new currency (the rentenmark) introduced.
Comments
Post a Comment