Germany

Abstract

The financial and economic history of Germany since the War offers a happy hunting ground to the theorist in search of evidence for or against almost any economic doctrine. Especially in the field of currency and credit Germany in the short span of fourteen years has lived through practically the entire range of experience with which the theory of money in its widest sense occupies itself. In fact, so overwhelming is the amount of material accumulated during these years, so exceptionally large the proportion of it which has been preserved in statistical form and so extensive the contemporary literature dealing with it that the investigator bent on cutting his own straight and narrow path through this jungle of fact and controversy can only hope to attain his goal by putting a revere restraint on his natural curiosity¹).

The enormous extent of potential transfer hung like Damocles’ sword over the international money market. Paul Einzig