The Economic, Financial and Political State of Germany since the War

The Economic, Financial and Political State of Germany since the War

The Economic, Financial and Political State of Germany since the War

The Economic, Financial and Political State of Germany since the War

Excerpt

It seems that neither an individual nor a people can learn anything of practical use from the experiences of others; that, on the contrary, one can learn wisdom only from one's own experiences and sufferings. Before turning to my subject, I venture to express the conviction that, in view of the sound common sense which characterizes your nation and of the wise political and economic leadership of your country, the American people will never find themselves in difficulties similar to those in which the German people have been involved.

At the same time I believe that the history of the breakdown and reconstruction of the German currency, and of the decline and recovery of German economic life, is interesting beyond that of most other chapters in the economic history of the civilized peoples of this world, and that, for this reason, it is well worth while to glance back at it for a moment.

Above the history of the breakdown of the German currency one might write a motto, which is, I consider, applicable to all peoples and to all times: when a people has made the fatal resolution to give no more than its little finger to the devil of inflation, this devil is not content merely to take the whole hand; he is not satisfied until he has devoured the whole nation, bones and all.

What was the currency situation in Germany at . . .

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.