Brill’s Digital Library of World War I

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Emergency Money (Notgeld)

(483 words)

Author(s): Zilch, Reinhold
Emergency Money ( Notgeld) Money put temporarily into circulation, to replace either in whole or in part, the coinage that before its issue represented the currency, and that for a time could function as currency. Notgeld was mostly issued by other authorities than those issuing regular currency. During the war, a severe shortage of means of payment led to the issue of Notgeld in various states. The main reasons for this were the hoarding of coins and banknotes, the collapse of the system of payment, and the widening circulation of currencies of belligeren…

War Bonds

(647 words)

Author(s): Zilch, Reinhold
War Bonds A form of government borrowing for the financing of war expenditures. War bonds were issued by the belligerent states during the World War, thus allowing for the mobilization of significant parts of the social wealth. Both their attractive conditions – interest rates frequently better than in peacetime – as well as a massive propaganda drive, ensured that the first war bonds were able to raise a considerable amount of capital. The bondholders typically reflected a broad spectrum of the p…

Raw Materials, Rationing, and Procurement

(2,348 words)

Author(s): Zilch, Reinhold
Raw Materials, Rationing, and Procurement Th…