Word: reichsbanker
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Herr Hilferding, Socialist Minister of Finance in the Stresemann Cabinet, is one of the most active of the new ministers. His first act was to throw all his strength against Herr Havenstein, President of the Reichsbank, and Herr von Glasenaff, Vice President, with a view to forcing their resignations. The fall of these men is certain. Havenstein will probably be supplanted by Herr Bergmann, at present director of the Deutsehland Bank...
...increase the liquid value of his holdings, Stinnes, in conjunction with the other industrials, compelled the Reichsbank to abandon its attempt to stabilize the mark by "official" quotations. The dollar started its climb from the official 283,000 marks "to a probable 1,000,000 by the end of the month." This process will enable Stinnes to pay practically nothing for his recently acquired properties and thus releases his resources for his next step. His income is not affected by this depreciation, for he regulates prices strictly on the basis of dollar exchange values, putting the capital thus obtained into...
Herr Havenstein, of the Reichsbank, estimates that Germans have 2,000,000,000 gold marks ($476,400,000) abroad. He calculates that the excess of imports over exports since 1920 is 6,000,000,000 gold marks ($1,429,200,000); that capitalization of German industry amounts to 8,000,000,000 gold marks...
...Germany. Thus far, although the end has not yet been reached, their prophecies seem more and more likely of fulfilment. Not only is the rate for mark exchange swiftly approaching the zero point, but the conditions responsible for this sensational decline grow worse instead of better. At first the Reichsbank inflated its currency by the millions each week; next, the weekly increases of Reichsbank notes crept up into billions; now, the inflation is proceeding by the trillion each week. The last Reichsbank statement showed that the altogether unparalleled increase of over 1½ trillion marks, or 10% of the existing...
...Reichsbank arranged to print 1,000,000 mark notes in response to popular demand. The largest note in circulation at present is the 100, 000 mark bill; the issue of a 500,000 mark bill is expected shortly...