Blocking mark
Lock mark is a term from the German foreign exchange compulsory economy.
The blocking mark was introduced in 1931 under the then Reichsbank President Hjalmar Schacht parallel to the Reichsmark .
Financial assets that were to be transferred abroad had to be deposited into a "Sperrmark account". This applied to money from liquidated assets as well as income from pensions, insurance payments and dividends. The Sperrmark was only available to a limited extent. The transfer was only possible through the gold discount bank and special foreign trade banks. A high discount was levied, which reduced the assets in addition to the poor exchange rate. This Dego levy was around 20 percent in January 1934 and rose to 96 percent by September 1939.
This procedure particularly affected Jews who emigrated from the German Reich. Until the end of 1933, the foreign exchange offices allowed emigrating Jews to take cash amounts up to 15,000 Reichsmarks with them. From October 1934 the transfer of cash was completely stopped, only travel currencies of up to ten Reichsmarks were allowed to be carried.
The Sperrmark existed until the end of the 1950s. When exchanging for free German marks in 1952, you only got 60 pfennigs. In 1954 the Beko mark was introduced. In 1958 the D-Mark became freely convertible.
See also
literature
- Walter Lückefahr: Sperrmark and Registermark: Their creation, use and liquidation . Dissertation from the Cologne Faculty of Economics and Social Sciences from December 19, 1958. Handelsdruckerei C. Trute, Quakenbrück 1958 (191 pages).
- The best deal in the world , DER SPIEGEL No. 36 of September 5, 1951
- The Heinzel men , DER SPIEGEL No. 48 of November 25, 1953
Individual evidence
- ↑ a b DIE ZEIT from September 30, 2011
- ^ Frank Bajohr: Aryanization as a social process . In: Claus Offe (Ed.): Democratization of Democracy . Frankfurt / M. 2003, ISBN 3-593-37286-X , p. 21