Page 5 - GC-Sept-Oct-23
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This  new  currency  system was financial work required that was be- point, businesses were even weigh- paints  a  picture  of  the  times  and time stable 10 pfennig postage rate
      bonded by a mortgage on the entire ing addressed.             ing paper currencies on a scale rath- tribulations of this inflation period is prior  to  1914  for  a  domestic  letter
      industrial and agricultural resources  To illustrate survival during this er than counting the face value for “The  Black  Oblisk,”  by  renowned (Fernverkehr),  where  1  Reichmark
      of  the  country  –  theatrically.  This hardship inflation period, especially purchases!   author Erich Maria Remarque, pub- equaled 100 pfennige, to the explo-
      Rentenmark  converted  all  Papier- from  1921  through  1923,  the  fol-  These stories, and others such as lished in 1956.  sive inflated rate for the same letter
      marken  at  a  rate  of  1-trilllion  Pa- lowing  story  has  been  reported  in people going shopping with suitcas-  Postal historians and philatelists at 100 billion Papiermarks by Dec.
      piermarken  to  one  of  the  new different  versions.  One  version  of es  full  of  this  inflation  currency, have had a field day with the Ger- 1, 1923! Postal rates can be a good
      Rentenmarken.  Twelve  zeros  were this story is about a robber running and  workers  getting  paid  twice  a man inflation period. This is where way to document the dramatic rises
      then  cut  from  prices,  and  a  stable up to someone who was hurrying on day  to  help  during  this  financial postal rates increased from the long-
      reasonable price structure was again their way shopping carrying a bas- crisis,  so  they  could  run  out  and                       Continued on page 6
      established.                   ket full of cash. Then grabbing the shop before prices would possibly
         Now the German currency was basket, dumping the cash, and run- increase  again  were  reality.  Cash
      again converted back to the original ning  off  with  the  empty  basket,  to was  no  longer  saved  but  spent  as
      4.2 Marks to the U.S. dollar of 1914. get  away  faster?  Yes,  this  sounds quickly as earned.
      General confidence in the economy crazy,  but  in  1923  Germany,  the  This,  and  more  is  what  took
      was restored in Germany, at least in basket was worth more money than place in these turbulent days in Ger-
      the business sectors. Yay! It worked the  bundles  of  inflation  currency many, especially during the second
      on the surface, but there was more that  was  in  the  basket!  At  some half  of  1923.  A  great  novel  that

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