Reichsbank

Of course, the Darlehnskassen issues would follow the value set by the notes of the Reichsbank.

At present this medium is paper money depreciated, as in the case of the Reichsbank notes, by nearly 30 per cent.

The German government retaliated by a decree of the Reichsbank refusing to deal with Russian paper.

Before the Reichsbank was established, Hamburg was the first, and for a long time the only, example of a clearing in Germany.

The Reichsbank is bound by law to redeem its notes in current German money.