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GCSE History · key term
A German currency backed by land and industrial assets, introduced on 15 November 1923 as a temporary solution to hyperinflation.
Used by AQA and Edexcel
Paper 1
Revise: Weimar DemocracyOn 15 November 1923, the Rentenmark was introduced at an exchange rate of one Rentenmark to one trillion Papiermarks. It was backed by mortgages on agricultural land and industrial and commercial property, rather than by gold reserves.
Paper 3
The currency introduced in Germany in November 1923, backed by the value of land and industrial assets, which helped restore confidence in money.
Date the Rentenmark to November 1923 and the Reichsmark to 1924. The currency made worthless by hyperinflation was the Papiermark.
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In November 1923, his government introduced the Rentenmark. One Rentenmark replaced one trillion old marks. Simply changing the name of a currency would not have restored trust: the important point was that the Rentenmark was backed by the value of German land and industrial assets.