MONEY, WEIGHTS, AND MEAST
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were first issued in 1874, wen as a war measure by the law of August 4, 1914, declared legal tender. Their total issue amounts to 360 million marks. By . the same law the necessity to change all notes into gold was set aside. Moreover, Loan Banks {DarUhnskassen) were established in August, 1914, with the right of issuing notes up to 3,000 million marks. These notes, which are in denominations of 50, 20, 5, 2 and 1 marks, are accepted at all public offices (e.g., post, railways, customs, etc).
On January 1, 1919, the circulation of paper money was as follows : — Imperial Bank Notes, 22,183 million marks (11,467 million marks in 1918 : Loan-Bank Notes, 10,109 million marks (6,264 million marks in 1918); total, 82,297 million marks. On January 1, 1921, the total note circulation^ was 80,838,000,000 marks.
The condition of the Imperial Bank of Germany on April 7, 1921, is shown as follows (in thousands of marks) : —
Amount April 7, 1981
Total coin mnd bullion . . 1,100,163
Of which gold 1,091,519
Treasury notes and loan bank
notes 22,941,114
Notes of other banks 1,608
Bills discounted . . 57,159,128
Advances . Investments Other securities Notes in circulation Deposits Other liabilities
Amount April 7, 1921
16,184
The original charter of the Imperial Bank expired on December 31, 1920, but the privileges of the bank have been renewed for a further term. The following are some particulars of German banking : —
Tear
No. of Banks
Capital
Reserves
Per
Emission Mort g»* e
Credit
Total
Million* of Marks
Millions of Marks
Cent, of Capital
1SS3 1901 1908 li'13
1914 1915
1917
1P1S
18 24
6 40 5 40 5 40 5 40
40 5 30 5 39
5
71
124 169 160 150 14- 141
lis 170 214 205 198 193 185 171
2,869-0
.. ..-..-,
4,065-7 3,993 -0
a n ••.'
3,829 t» 3,764-8
1,024
1,945-1 1,446-0 1,4928 1,568-8
S-8 2 .115-0
14 25
32
85 37 40 46
■•'■
Money, Weights, and Measures.
The Mark, of 100 Pfennig, is of the normal value of lljrf., or 20 '43 marks to the pound sterling. (April, 1921, 243 marks to the £.) Gold coins are 20, and 10-mark pieces, called respectively doppel-krone, and krone. The 20-mark piece weighs 7 '96495 grammes '900 fine, and consequently contains 7'16846 grammes of fine gold. Silver coins are 5-, 2-, and 1-mark pieces and half-mark pieces. Silver coins were, however, put out of currency ou January 1, 1921. The mark weighs 5'5 grammes '900 fine, and thus contains 5 grammes of fine silver. Nickel coins are 10 and 5 pfennig pieces. Copper coins are in 2 and 1 pfennig pieces. There are bronze coins of smaller denominations. Iron coins were introduced in 1915 — 5 pfennig pieces in August, and 10 pfennig^ pieces in December. Aluminium coins
