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Essay

Germon Economy Between the Wars

Essay specific features

 

Issue:

History

 

Written by:

Sam D

 

Date added:

March 31, 2017

 

Level:

University

 

Grade:

C

 

No of pages / words:

7 / 1768

 

Was viewed:

8642 times

 

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Essay content:

In January of 1921 the average monthly exchange rate was 64 marks per dollar. This meant Germany owed 2.112 trillion marks. Despite the extent of its debt, Germany never increased taxes above 35% of expenditure from 1919 to 1923. Instead, the German government printed more money. In November of 1918 there were 29...
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Instead, the German government printed more money. In November of 1918 there were 29.2 billion (29,200,000,000) notes in circulation. Within five years the number of notes in circulation had increased to 497 quintillion. With this amount in circulation, the quantity of money fell off a cliff, and with the interest rate decreased, if not eliminated, people's desire to save became almost non-existent...
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