Württemberg central bank
The Württembergische central bank was a central bank in the Kingdom of Württemberg or the People's State of Württemberg . It existed from 1871 to 1934 and then renamed Württembergische Bank in 1935 . The seat was Stuttgart .
history
With the establishment of the empire in 1871, the member states of the empire lost their legislative rights with regard to the monetary system. The Reichsbank was not given a monopoly on the issue of banknotes ; the existing central banks retained the right to issue banknotes to the extent specified in the Annex to Section 9 of the Banking Act of March 14, 1875. The Württembergische central bank had already been founded in Stuttgart in 1871 and, with the nationwide introduction of the mark on January 1, 1876, issued corresponding banknotes.
With the end of the Empire in 1918, there were only four private central banks in Germany: the Bavarian central bank in Munich, the Badische Bank in Mannheim, the Saxon Bank in Dresden and the Württembergische central bank in Stuttgart. After the hyperinflation of 1923, the Private Central Bank Act of August 30, 1924 was enacted. According to this law, the Württembergische central bank was allowed to issue a maximum of 27 million Reichsmark banknotes annually.
After the seizure of power of the Nazis the score privilege was abolished by law. The basis was the possibility of termination in the law on private central banks of August 30, 1924 after ten years.
In 1935, after the banknote privilege ended, it changed its name to Württembergische Bank. In 1978, Württembergische Bank merged with Badische Bank and Handelsbank Heilbronn to form Baden-Württembergische Bank , which was taken over in 2001 by Landesbank Baden-Württemberg .
literature
- Heinz Fengler: History of the German central banks before the introduction of the mark currency . Regenstauf 1992.
- Dietrich OA Klose: The Mark - a German Fate: History of the Mark up to 1945. State Coin Collection, Munich, 2002.
- Deutsche Bundesbank : Paper money in the German Empire 1871–1948. Frankfurt am Main, 1965.
