TEMPORARY RENTENMARK ISSUE SETS OFF EXTRAORDINARY SCENES AT THE REICHSBANK
Berlin, Germany (JFK+50) On November 18, 1923, the Associated Press reports "extraordinary scenes" were observed yesterday at the head offices of the Reichsbank here in Berlin "when it became known that a limited quantity of the new Rentenmark* notes was to be issued to the public."
The AP also reports that "the news spread like wildfire."
The new currency commissioner, Dr. Hjalmar Schacht**, describes the Rentenmark as a "temporary bridge" from depreciated paper currency to future gold mark issues.
*Rentenmark was currency issued Nov 1923 to stop the hyperinflation of the Weimer Republic of Germany as the paper Mark had become almost worthless. It was replaced in 1924 by the Reichsmark.
**Hjalmar Schacht (1877-1970) was co-founder of the German Democratic Party & served as president of the Reichsbank & the Central Bank of Nazi Germany (1933-1939).
SOURCE
"Wild Rush In Berlin For New Currency," The Sunday Star, Washington, D.C., November 18, 1923, Chronicling America, Library of Congress, www.loc.gov/
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