Reichsbank


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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Reichsbank

 

the central bank of issue of Germany, which existed from 1875 until the end of World War II. The bank was a private joint-stock society but entirely under the jurisdiction of the state. The stock capital was originally 120 million marks and rose to 150 million in 1930. During World War I, the Reichsbank financed Germany’s military expenditures. In accordance with the Dawes Plan, from 1924 to 1929 the Reichsbank was controlled by foreign creditors, who received reparation payments through the bank. In 1936 the bank acquired a monopoly right to issue bank notes.

The Reichsbank played a particularly important role in mobilizing financial resources for fascist Germany’s aggression. In 1939 all limitations on bank loans to the state were removed. The financial plundering of the temporarily occupied countries of Europe was carried on through the bank. After the collapse of fascist Germany the bank was liquidated according to the decisions of the Potsdam (Berlin) Conference of 1945.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
The note was issued by the Reichsbank, the German national bank of the time, in February 1922, during a period of hyper inflation of the German currency.
Unaided by other central banks, the Reichsbank came perilously close to having to suspend the gold standard.
Much of that cooperation centered on the personal relationships among Montagu Norman, governor of the Bank of England; Benjamin Strong, governor of the Federal Reserve Bank of New York; Hjalmar Schacht, president of the Reichsbank; and Emile Moreau, governor of the Banque de France (Ahamed 2009, James 2016, Bordo and Schenk 2017).
Asked how they had made their last payment in a survey by Germany's Reichsbank, 70 per cent of respondents had used a card, compared with only 15 per cent who had paid in cash.
Barbieri devotes nearly half of his book to the Weimar Republic's and Adolf Hitler's Reichsbank President Hjalmar Schacht, who appears in this study as almost more important than Hitler himself.
The nation suffered hyperinflation as the Reichsbank printed marks to throw onto the foreign exchange market.
The period of study will be between 1923, when the Bundesbank was known as the Reichsbank, and 1969.
Although, in 1919 the Meissen factory submitted to the German Finance Ministry a proposal for a national emergency coinage in the form of a seven-piece sample set of stoneware coins ranging in denomination from 10 pfennigs to 5 marks, the idea was ultimately rejected by the Reichsbank as impractical (Ringleb, 1986: 42).
Although the ministry's building was constructed as the Reichsbank of Nazi Germany and, later, was turned into the headquarters for the Socialist Unity Party which was the Soviet-dominated East Germany's ruling party, now talks there were centred on the Baltic Sea region's business cooperation and preservation of all the main democratic values-guarding the European Union.