Jump to ContentJump to Main Navigation
Secret Reports on Nazi GermanyThe Frankfurt School Contribution to the War Effort$
Users without a subscription are not able to see the full content.

Franz Neumann, Herbert Marcuse, Otto Kirchheimer, and Raffaele Laudani

Print publication date: 2013

Print ISBN-13: 9780691134130

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691134130.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 14 June 2021

The Problem of Inflation in Germany

The Problem of Inflation in Germany

(October 16,1944)

(p.345) 21 The Problem of Inflation in Germany
Secret Reports on Nazi Germany

Franz Neumann

Princeton University Press

This chapter examines the problem of inflation in Germany. In 1914 the German government based its war finance program on the assumption that World War I would be short. No additional taxation was introduced. Loans were considered sufficient to cover the total war expenses. The government obtained the necessary cash by discounting treasury notes with the Reichsbank which, in turn, sold these notes to banks and large business firms. Every six months loans were floated to redeem the treasury notes. The chapter begins with a discussion of Germany's war financing during the period 1914–1924, focusing on the post-war budget deficit and reestablishment of free prices, depreciation of the mark, and stabilization of the currency. It then considers Nazi Germany's finances during the period 1933–1943, along with the inflation problem after the defeat of Germany in World War II.

Keywords:   German inflation, Germany, World War I, treasury notes, war financing, budget deficit, free prices, depreciation, World War II

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.