Reichsbank suspends gold convertibility of the mark
Citations (1)
- Lords of Finance whole source · open book
the Reichsbank entered August 1914 with large enough gold reserves on hand to feel confident about avoiding a replay of 1911 and was also quick, once the crisis became apparent, to take preemptive action by suspending the gold convertibility of the mark on July 31.
chapter: 3. THE YOUNG WIZARD - Germany: 1914