Science Source ftp Apr 2015
EN_01170126_1275
Cheaper than wallpaper. Banknotes decorate the walls of a German apartment. In order to pay the large costs of WWI, Germany suspended the convertibility of its currency into gold when that war broke out. The German Kaiser and Parliament decided without opposition to fund the war entirely by borrowing. The result was that the exchange rate of the Mark against the American dollar fell steadily throughout the war from 4.2 to 8.91 Marks per dollar. The Treaty of Versailles, further accelerated the decline in the value of the Mark, so that by the end of 1919 more than 6.7 paper Marks were required to buy one American dollar. The hyperinflation in the Weimar Republic was a three year period of hyperinflation in Germany (Weimar Republic) between June 1921 and January 1924. By November 1923, the U.S. dollar was worth 4,210,500,000,000 German marks.
2015-04-07
East News
Science Source
Photo Researchers
BZ7902
1,48MB
31cm x 26cm by 300dpi
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