Foreign News 1923: Germany Exit the Mark

Exit the Mark

The exact moment of death is as difficult to establish with currencies as it is with persons. The German mark has long since been pronounced incurably sick, and its fever has risen beyond the ability of existing thermometers to measure it. The events of the week tend to the conclusion that its definite decease can be dated at mid-September, 1923.

In a single week, the amazing output of 389,000,000,000,000 of marks—or more than all outstanding marks put together—was seen. The discount rate of the Reichsbank stood at the unparalleled rate...

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