Page 4 Advertisements Column 5

Waikato Times, Volume 125, Issue 20956, 8 November 1939, Page 4

Worthless German Banknotes Valueless, except as reminders of the disastrous consequences of unlimited inflation, numbers of German banknotes of denominations running into eight figures or more, which were in circulation when the German currency collapsed 15 years ago, are in the possession of New Zealand people who visited Germany at the time. One of these notes, which has been kept Uy an Auckland business man, is for 10 milliarden marks—lo - 000,000,000 marks—equivalent to £500,000,000 at the par rate of exchange before the currency was depreciated. Its nominal value was equal to double the amount of the French indemnity to Germany in 1871, yet it was purchased in Hamburg at the end of 1925 for 2s 6d. Only a few months later it was worthless. The date of issue printed upon it is October 1, 1923. Earlier in 1924 German 5000-mark notes, of a nominal value of £250 each, were procurable at 10 for a penny.

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