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<p>[QUOTE=&quot;George McClellan, post: 4398738, member: 92441&quot;]<b>Inflation exceeded the ability to print enough banknotes!</b></p><p><b>The &#039;money supply&#039; couldn&#039;t keep up.</b></p><p><br /></p><p>The Reichsbank had to call upon private printing works for the production of banknotes, in 1923 were 30 paper factories and 133 printing works busy with their production. The number of printing presses (1723 running day and night in autumn 1923) could be still increased, but the capacities for the special paper for banknotes could not keep up with the demand. The Reichsbank therefore welcomed and in many cases supported the issue of <i>Notgeld</i> (emergency money) by municipalities, districts, provinces and private enterprises. It was estimated, that at the end of 1922 there were about 20 billion in circulation - as opposed to 1280 billion of official money. By the end of 1923 there were 400 to 500 billion of Notgeld in value of about 500 million goldmark, so about the same amount as the official banknotes. There was also &quot;value-stable&quot; money in the same amount. The Notgeld was not only used to assist the Reichsbank, but many produced it to great profit.</p><p><br /></p><p><a href="https://wiki.mises.org/wiki/Inflation_in_the_Weimar_Republic" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://wiki.mises.org/wiki/Inflation_in_the_Weimar_Republic" rel="nofollow">https://wiki.mises.org/wiki/Inflation_in_the_Weimar_Republic</a></p><p>&quot;Inflation in the Weimar Republic&quot;[/QUOTE]</p><p><br /></p>

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