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Burning money, 1920s German inflation C016 / 4519
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Burning money, 1920s German inflation C016 / 4519
Burning money. Woman burning German currency (German Papiermark) during the hyperinflation in Germany in the early 1920s. Before World War I, the Germany currency was known as the Goldmark. In the early 1920s, due to the effects of the war and the printing of notes by the post-war German government (the Weimar Republic), the currency became known as the German Papiermark. The hyperinflation meant that by 1923 the price of ordinary goods and food was billions of marks. The marks were literally not worth the paper they were printed on, and it was cheaper to burn them than buy fuel
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Media ID 9204991
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1900s 1920s 1st World War Aftermath Bank Note Burning Cash Commerce Currency Economic Economics Effects Farm Security Administration Finance Financial First World War Fsa Owi Collection Fuel Germany Great War Home Inflation Kitchen Money Social Society Sociology World War 1 World War I World War One 1923 Hyperinflation Paper Money Weimar Republic
EDITORS COMMENTS
This print captures a poignant moment in history during the hyperinflation crisis that plagued Germany in the early 1920s. In this image, we see a woman burning German currency, known as the Papiermark, which had become virtually worthless due to skyrocketing inflation rates. Before World War I, Germany's currency was called the Goldmark. However, after the war and with post-war economic struggles compounded by excessive printing of banknotes by the Weimar Republic government, Germany experienced an unprecedented level of hyperinflation. By 1923, prices for basic goods and food had reached astronomical figures in billions of marks. The scene depicted here symbolizes how dire circumstances forced people to resort to extreme measures just to survive. It became more cost-effective to burn money as fuel rather than purchase it with rapidly depreciating currency. This photograph not only showcases the devastating effects of hyperinflation on ordinary citizens but also serves as a reminder of how economic turmoil can impact society at large. The monochrome composition adds a sense of historical authenticity and emphasizes the gravity of this era. Preserved within this image is a powerful testament to one country's struggle against financial collapse and its lasting impact on individuals' lives. As we reflect upon this snapshot from history, may it serve as a cautionary tale about the fragility and importance of stable economies worldwide.
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