Weimar Germany Reichsbanknote, 50 million mark acquired by Cornelia Heise
Extent and Medium
overall: Height: 3.250 inches (8.255 cm) | Width: 4.875 inches (12.383 cm)
Creator(s)
- Reichsbankdirektorium (Issuer)
Archival History
The currency was donated to the United States Holocaust Memorial Museum in 2020 by John Arpin, a relative of Cornelia Heise.
Acquisition
United States Holocaust Memorial Museum collection, gift of John Arpin
Scope and Content
The Reichsbank note is part of a collection of materials documenting the experiences of Cornelia Heise during her service with UNRRA child services in Germany after World War II (1939-1945). She compiled the papers, which include letters, documents, reports, case studies, her personal notes, photographs, and postcards. The papers include both originals and copies. The Reichsbank note, valued at 50 million marks, was distributed in Germany from September to November 1923. German efforts to finance World War I sent the nation into debt. Following their defeat, the Treaty of Versailles obligated Germany to pay reparations to several countries, which increased the nation’s financial struggles. The German government attempted to solve this problem by printing more money, which led to severe inflation. The inflation grew to critical levels between 1922 and 1923, when the exchange rate of the mark to the United States dollar went from 2,000 marks per dollar to well over a million in a matter of months. The government printed higher and higher denominations, but was unable to keep up with the plunging rates. Germans began using the worthless bills as kindling, wallpaper, and children’s crafts. The emerging National Socialist German Worker’s (Nazi) Party frequently used the bills to their advantage, writing anti-Semitic messages on them, which blamed Jews for Germany’s financial problems. In order to stabilize the economy, the German government established the Rentenbank. The new Minister of Finance, Hans Luther, created the Rentenmark, which was backed by mortgages on all real property in Germany, rather than gold. The Rentenmark was valued at 4.2 marks to one U.S. dollar, and its introduction on November 16, 1923, successfully ended the inflation crisis. Despite this, the Nazi Party continued to use people’s residual economic fears as a propaganda tool to gain power, eventually leading to Adolf Hitler becoming Chancellor in 1933.
Conditions Governing Access
No restrictions on access
Conditions Governing Reproduction
No restrictions on use
Physical Characteristics and Technical Requirements
Reichsbanknote printed in black ink on lightweight, rectangular, cream-colored paper with a geometric star-patterned watermark. On the face, there is a rectangle with a brown, decorative border and repeating, geometric circular backprint that deepens into a dark red streak down the center. The denomination is printed in decorative font across the center as part of the backprint. German text is printed across the center in fraktur-style font, and in three, vertically- aligned lines on the lower left and right. There are 12 signatures centered at the bottom and flanked by the Reichsbankdirektorium seal bearing a left-facing Reichsadler surrounded by German text, on both sides. The serial number is printed in green ink in the upper right corner. The back is blank.
People
- Luther, Hans, 1879-1962.
Subjects
- Germany.
- Inflation (Finance)--Germany.
- Banks and banking, German
- Paper money--Germany.
- Economics.
- Germany--Politics and government--1918-1933--Economic aspects.
Genre
- Object
- Exchange Media
- Money.