How was the reichmarks to deutschmarks supported?
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The initial sum was paid out against the ration card of each person in 2 installments (21st June 1948: DM 40 and 2 months later 20).
All cash had to paid into a special account by the 26th June 1948 (Reichsbank-Abwicklungskonto). RM 600 was reducted as the payment of the DM 60.
Eventually the remaining sum was made available at a rate of RM 10:0.65 DM.
Die neue Währung wurde an den Ausgabestellen für die Lebensmittelmarken ausgegeben. Pro Person wurde nur ein so genanntes „Kopfgeld“ von 60 DM ausgezahlt; 40 DM sofort und weitere 20 DM zwei Monate später. Ferner erhielten Unternehmen auf Antrag bei ihrer Bank pro Angestellten einen so genannten „Geschäftsbetrag“ von 60 DM. Der „Geschäftsbetrag“ und das „Kopfgeld“ wurden später bei der Umstellung des Barvermögens angerechnet.
The new currency was issued at the ration card issuing offices. Only a so-called “bounty” of DM 60 was paid per person; DM 40 immediately and another DM 20 two months later. Companies also received a so-called “business amount” of DM 60 per employee on request from their bank. The “business amount” and “bounty” were later taken into account when the cash assets were converted.
Sources:
- Deutsche Mark (in German)
- Quoted text not contained in English version
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