Rare 1917 WW1 German BankNote 5 Mark
Rare 1917 WW1 German Banknote 5 Mark (Darlehnskassenschein, State Loan currency) in circulated but good condition.
Wars bring with them dramatically higher public expenditure and lower private consumption. During the First World War (WWI) Germany issued Debt Banknotes for a given period(Darlehnskassenschein, State Loan currency) to fund the ongoing war effort.
Many historians since have argued that the substantial inflation and the shortages of goods during the war, along with the hyperinflation in 1923, resulted from the Reichsbank and the Treasury’s ineffective wartime financial policies.
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