Rentenmark
Quick Summary
The Rentenmark was a temporary German currency introduced in 1923 to combat severe hyperinflation that had devalued the German mark to an extreme degree. It was equivalent to one billion inflated imperial marks and was backed by the country's industrial and agricultural resources. The Rentenmark successfully stabilized the economy and was later superseded by the Reichsmark. This period of hyperinflation, which saw prices rise dramatically and the currency become virtually worthless, significantly impoverished citizens and contributed to the rise of extremist political movements like the Nazi Party.123
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- Weimar RepublicToward 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…
Read MoreA 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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20th-century international relationsAllied 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…
Read More…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…
Read More