GERMANY: Finance

The indefatigable Herr Rudolf Hilferding, Minister of Finance for the Reich, outlined a grand scheme of radical finance reform, which made provision for three different currencies:

Geldwertmark or bodenmark, meaning " gold-value mark." The Reichsbank is to be the only source of issue for new paper currency that will probably be secured by 40% to 50% of gold coverage instead of the original legal one-third.

Sachwertnoten, meaning " real-value notes," which are to be secured by a real-value capital levy of 5%.

Nichtswerthpapiermark, meaning worthless paper mark, which continued...

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