On the ninth day May (Guihai,), June 22, 1923, the German mark fell sharply.




children in the street playing the worthless banknotes
22, in 1923 the German currency worthless, German central bankers have a sense of despair. Governor of the Bank of Germany Rudolph - Haven Stein said the situation has become very desperate. The decline in the value of the
Mark was very alarming. In only three weeks, we lost half the price. Early this month, the $ 1 to buy 74,500 marks. But this day, $ 1 worth 136,000 marks. the
war Germany's economy has been severely damaged, but the main reason of the destruction of the German economy is the French and Belgian occupation of the Ruhr. Occupation Compensation Commission announced that Germany could not export enough coal. Since the occupation, protest miners cut coal production. They even coal production can not meet domestic consumption. Germany was forced to import, and this takes a lot of money.
German social welfare spending is also very alarming, this is due to the thousands of people displaced from the Ruhr caused. Until April, the central bank has enough reserves to offset this consumption. These reserves are used up, Mark is to compensate for the cost.
the German mark
"clumsy" magazine cartoons shows the currency exchange refuge "scenario. Comic anemic Mark, lying on top of a wall on the ruble in the side voyeur francs