At one period of the week the paper mark was quoted at 2 cents a million, or 50,000,000 for a dollar. A loaf of bread costs 50,000 marks.
Draconian measures were decided upon by the Stresemann Government at a council meeting. In order to enforce stringent financial reforms, the Government has virtually set itself up as an absolute oligarchy under paragraph 48 of the German Constitution. The main agenda: check the fall of the paper mark; create a Devisenkcommissar (Foreign Exchange Commissioner) with wide powers; control all foreign exchange and bank note traffic;...
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