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Rentenmark

German currency

Learn about this topic in these articles:

German economic recovery

  • Scheidemann, Philipp
    In Weimar Republic: Toward stabilization

    A new currency, the Rentenmark, was introduced on November 20, 1923, in strictly limited quantities. It was backed by a mortgage on the entire industrial and agricultural resources of the country. The process of stabilization was painful but was pushed through with determination by Hjalmar Schacht, who was made…

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  • Alfred Thayer Mahan
    In 20th-century international relations: Allied politics and reparations

    …a temporary currency called the Rentenmark, and on New Year’s Day 1924 the president of the Bank of England, Montagu Norman, extended a 500,000,000 gold mark credit to back a new German mark. In October 1923, meanwhile, rowdy bands supported by the French occupation began to seize public buildings from…

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