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The quality of the Reichsmark coins decreased more and more towards the end of World War II and misprints happened more frequently. [ 8 ] [ 9 ] Since the 4 ℛ︁₰ coin was only slightly larger than the 1 ℳ︁ coin and the imperial eagle looked similar, an attempt was made to pass it off as a 1-reichsmark coin by silvering the 4 ℛ︁₰ coin.
The draining of Germany's gold and foreign exchange reserves inhibited the acquisition of materiel, and the Nazi economy, focused on militarization, could not afford to deplete the means to procure foreign machinery and parts. Nonetheless, towards the end of the 1930s, Germany's foreign reserves were unsustainably low.
A major cause was also the large-scale hoarding of goods by the German people in anticipation of a currency reform. Near the end of February 1946, the normal consumer food ration in the Bizone (territory occupied by the US and UK) was reduced to 1014 calories daily. The low caloric intake was another reason for the decline in industrial production.
The German government feared that this might provoke immediate war with France at the time, but it did not. Still, the fear that war might come before Germany was prepared for it served to create a sense of urgency and reinforced the rearmament program. [31] The army and the navy prepared to quickly expand their capacity and manpower.
Shortly afterwards, he was promoted to corporal and assigned to the regimental headquarters as a runner to carry messages to forward units, a role he continued in until the end of the war. [ 12 ] Hitler remained in the army after the Armistice of 11 November 1918 , staying on the payroll until March 1920. [ 13 ]
To pay for the large costs of the First World War, Germany suspended the gold standard (the convertibility of its currency to gold) when the war broke out in 1914. Unlike France, which imposed its first income tax to pay for the war, German Emperor Wilhelm II and the Reichstag decided unanimously to fund the war entirely by borrowing.
As Germany was rearming against the terms of the Treaty of Versailles, the Nazi government needed a form of money that did not leave a paper trail and allowed them to spend past the treaty terms on military rearmament. [2] It is assumed that billions of MEFO bills were issued throughout the regime's time in power, though the records are not ...
Fink, Leon. "The Good Postwar: German Worker Rights, 1945–1950" in Fink, Undoing the Liberal World Order: Progressive Ideals and Political Realities Since World War II (Columbia UP, 2022) online 46–74. Fischer, Wolfram. "Some Recent Developments of Business History in Germany, Austria, and Switzerland". Business History Review (1963): 416 ...