Reichsmark


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Reichsmark

 

the monetary unit of Germany, introduced in 1924.

The Reichsmark was divided into 100 Reichspfennigs. The gold content was established at 0.358423 g of pure gold. During World War II it also circulated in the states occupied by fascist Germany and was sharply depreciated as a result of issuing excessive amounts for the financing of military expenditures. In 1948, on account of a separate monetary reform in West Germany and a consequent monetary reform in East Germany, the Reichsmark was abolished.

References in periodicals archive ?
From the start, there was considerable interest in the prospect of German firms earning tens of millions of Reichsmarks in industrial orders and Germany finding a cheap source of oil imports.
The state court fined each sixty Reichsmark for the vicious deed.
The dollar depreciated markedly relative to the franc and reichsmark immediately after the bank holiday was declared in Michigan.
This stepped-up activity resulted from several factors: the installation of the Stresemann government in Berlin, the end of passive resistance in the Ruhr, and the continuing problems with the Reichsmark.
A separate question is that of a 476 million reichsmark occupation loan forced on the Bank of Greece in 1942 which the Nazis used to fund their military campaign in northern Africa.
11) As the Ministry of Transport lacked funds to supply the Gesellschaft Reichsautobahnen, Hitler enlisted the German National Railroad Company (Deutsche Reichsbahn Gesellschaft, DRG) to fund the Gesellschaft Reichsautobahnen with an initial equity of fifty million Reichsmark (RM).
Although in this process Germany often paid higher than world prices for these imports, countries like Bulgaria were forced to re-value their domestic currency against the Reichsmark and to purchase goods of little or no value to them, merely to use up the blocked funds.
That return took place on Sunday, June 20, 1948, when Germany's economic director, Ludwig Erhard (following the advice of his mentor, Wilhelm Ropke), replaced the reichsmark with the deutsche mark, which effectively reduced the money supply by 93 percent, and eliminated the deadly price controls that had inflicted inevitable shortages on the German people.
10) In fact there was no room for that kind of transitional object in the one suitcase that could be taken together with a piece of hand luggage and ten Reichsmark, so that a substitute for the "transitional object" had to be found among the things in the suitcase.
Therefore, the original plan included provisions for a capital levy to compensate the losers from the ten-to-one write-down of the reichsmark.
The mark barely survived through the establishment of the Weimar Republic and catastrophic inflation of the early 1920s, its name expanded to Reichsmark in 1924.
Post-1924 Reichsmark values have been used to facilitate comparison.