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Total Categories: 5
The Reichsbank was established in 1875 and served as Germany's central bank until the end of World War I.
Answer: False
The Reichsbank was established in 1876 and served as Germany's central bank until its dissolution in 1945, not the end of World War I.
The Bank of Prussia was the sole predecessor institution to the Reichsbank.
Answer: False
While the Bank of Prussia was a predecessor, the Reichsbank also took over functions from other entities, including the Oesterreichische Nationalbank in 1938.
Before the Reichsbank, Germany had a highly unified and efficient monetary system managed by a single national bank.
Answer: False
Before the Reichsbank, Germany's monetary system was fragmented, involving multiple note-issuing banks and lacking a single national institution.
By 1870, Germany had only a handful of chartered note-issuing banks, indicating a consolidated banking sector.
Answer: False
By 1870, Germany had 31 chartered note-issuing banks, indicating a fragmented rather than consolidated banking sector.
The panic of 1873 led to a relaxation of regulations on note-issuing banks in Germany.
Answer: False
The panic of 1873 stimulated efforts to create a more integrated monetary system, highlighting the inadequacies of the existing structure, rather than leading to relaxation of regulations.
The Reichsbank was structured as a purely private entity with no government oversight during the German Empire.
Answer: False
While technically a private company, the Reichsbank operated under Reich government control, with its supervisory board (Curatorium) chaired by the Imperial Chancellor.
The Imperial Chancellor had no formal role in the Reichsbank's governance during the German Empire.
Answer: False
The Imperial Chancellor chaired the Curatorium, the Reichsbank's supervisory board, indicating a significant formal role in its governance.
The 1909 amendment to the Banking Act made Reichsbank notes legal tender and redeemable at a fixed rate of gold per kilogram.
Answer: True
The 1909 amendment to the Banking Act indeed made Reichsbank notes legal tender and established their redeemability at a fixed rate of 2790 Marks per kilogram of gold.
The Reichsbank's structure during the German Empire allowed the Direktorium to operate entirely independently of the government.
Answer: False
The Direktorium operated under Reich government control, reporting to the Curatorium chaired by the Imperial Chancellor.
The Reichsbank managed the Reichsmark currency exclusively from its establishment in 1876.
Answer: False
The Reichsbank managed the German mark from its establishment in 1876 until 1924, after which it managed the Reichsmark.
What was the primary role of the Reichsbank?
Answer: To serve as the central bank for Germany.
The Reichsbank's primary function was to act as the central bank for Germany, managing its monetary system and currency.
What was the state of Germany's monetary system prior to the Reichsbank's establishment?
Answer: Characterized by multiple note-issuing banks and fragmentation.
Prior to the Reichsbank's establishment, Germany's monetary system was fragmented, featuring numerous note-issuing banks and lacking a single national institution.
Who chaired the supervisory board (Curatorium) of the Reichsbank during the German Empire?
Answer: The Imperial Chancellor
The Imperial Chancellor served as the chairman of the Reichsbank's Curatorium, the supervisory board, during the German Empire.
What significant change occurred regarding the Reichsbank's currency convertibility at the outbreak of World War I?
Answer: The link to gold was abandoned, introducing the Papiermark.
At the onset of World War I, the Reichsbank abandoned the gold standard for the mark, introducing the Papiermark, which subsequently experienced inflationary pressures.
What legislative action in 1870 aimed to consolidate note issuance within the North German Confederation?
Answer: A law prohibiting the formation of new note-issuing banks.
A legislative act in 1870 prohibited the establishment of new note-issuing banks within the North German Confederation, contributing to the consolidation of monetary authority.
What was the stated purpose of the Reichsbank's existence in relation to the German Empire's economic development?
Answer: To create a unified and stable monetary system.
The Reichsbank was established with the stated purpose of fostering the German Empire's economic development by creating a unified and stable monetary system.
What was the role of the Zentralausschuss (Central Committee) in the Reichsbank's structure during the German Empire?
Answer: It represented the Reichsbank's shareholders and scrutinized management.
The Zentralausschuss served to represent the Reichsbank's shareholders and was tasked with scrutinizing the management's operations.
During its existence, the Reichsbank managed only one primary currency, the German mark.
Answer: False
The Reichsbank managed the German mark from 1876 to 1924 and the Reichsmark from 1924 to 1945.
Before World War I, the Reichsbank's notes were fully convertible into silver.
Answer: False
Before World War I, the Reichsbank managed the German gold mark, which was fully convertible into gold, not silver.
The introduction of the Papiermark at the start of World War I led to increased currency stability and value.
Answer: False
The introduction of the Papiermark at the start of World War I led to inflationary pressures and a decrease in currency value, not stability.
The Reichsbank was solely responsible for the hyperinflation experienced during the Weimar Republic.
Answer: False
While the Reichsbank's monetary financing contributed to hyperinflation, it was not solely responsible; factors like the Ruhr occupation also played a significant role.
The Banking Law of 1924 explicitly declared the Reichsbank an independent central bank.
Answer: True
The Banking Law of August 30, 1924, transformed the Reichsbank into an explicitly independent central bank.
The Reichsmark was reintroduced in 1924 at a rate significantly devalued compared to its pre-war parity.
Answer: False
The Reichsmark was reintroduced in 1924 at a rate of one trillion paper marks to one gold mark, restoring the pre-war parity and marking a return to monetary stability.
During periods of deflation in the Weimar Republic, the Reichsbank increased its lending rates significantly.
Answer: False
During deflationary periods, the Reichsbank acted as a primary source of short-term credit, rationing it and maintaining a low discount rate, rather than increasing rates.
The Young Plan amendments in 1930 increased foreign representation on the Reichsbank's General Council.
Answer: False
The Young Plan amendments of 1930 ended foreign involvement in the Reichsbank's governance and reduced the General Council's size.
Which currency did the Reichsbank manage *before* the introduction of the Reichsmark in 1924?
Answer: The German mark
The Reichsbank managed the German mark from its establishment in 1876 until 1924, when the Reichsmark was introduced.
Which institution was created in October 1923 to help stabilize the currency during the Weimar Republic?
Answer: The Deutsche Rentenbank
The Deutsche Rentenbank was established in October 1923 and introduced the Rentenmark, which effectively stabilized the currency during the hyperinflationary period of the Weimar Republic.
According to the Banking Law of 1924, what was a key characteristic of the reformed Reichsbank?
Answer: It was transformed into an explicitly independent central bank.
The Banking Law of 1924 officially designated the Reichsbank as an independent central bank, establishing a General Council with foreign members to oversee its operations.
How did the Reichsbank function during periods of deflation in the Weimar Republic?
Answer: It rationed credit and maintained a low discount rate.
During periods of deflation in the Weimar Republic, the Reichsbank acted as a primary source of short-term credit, rationing it and maintaining a low discount rate.
What change did the Young Plan amendments of 1930 bring to the Reichsbank's governance?
Answer: Ended foreign involvement and reduced the General Council's size.
The Young Plan amendments of 1930 ended foreign involvement in the Reichsbank's governance and reduced the size of its General Council.
The Nazi regime maintained the Reichsbank's independence and autonomy throughout its rule.
Answer: False
The Nazi regime abolished the Reichsbank's independence, making it an instrument of state policy and appointing its leadership directly by the Führer.
The Reichsbank's Direktorium issued a warning to Hitler in January 1939 regarding uncontrolled expenditure.
Answer: True
The Direktorium warned Hitler against uncontrolled expenditure in January 1939, stating, 'It is our duty to warn against this assault on the currency.'
The Reichsbank did not benefit from the Nazi regime's policies regarding stolen assets.
Answer: False
The Reichsbank benefited from the confiscation of gold reserves and personal property from invaded governments and victims, particularly Jews, depositing these assets under false accounts.
Confiscated valuables from concentration camp victims were melted down and deposited in the Reichsbank under false accounts.
Answer: True
Valuables from concentration camp victims, such as wedding rings and gold teeth, were deposited in the Reichsbank under false accounts, melted down as bullion, and processed.
The Nazi regime formally abolished the Reichsbank's exclusive note-issuing privilege on December 31, 1935.
Answer: True
The Reichsbank's exclusive privilege for issuing banknotes was formally established on December 31, 1935.
The 'Max Heiliger' accounts were used by the Reichsbank to manage its operational expenses during the Nazi period.
Answer: False
The 'Max Heiliger' accounts were used to deposit confiscated valuables from victims, not for managing operational expenses.
Walther Funk was acquitted at the Nuremberg trials for his role as Reichsbank President.
Answer: False
Walther Funk was convicted of war crimes at the Nuremberg trials for his actions as Reichsbank President.
How did the Nazi regime fundamentally alter the Reichsbank's status?
Answer: It made the Reichsbank an instrument of state policy, abolishing its independence.
The Nazi regime fundamentally altered the Reichsbank's status by abolishing its independence and transforming it into an instrument of state policy.
What was the purpose of the 'Max Heiliger' accounts at the Reichsbank during the Nazi era?
Answer: To deposit confiscated valuables from victims.
The 'Max Heiliger' accounts were utilized by the Reichsbank to deposit confiscated valuables, such as those taken from concentration camp victims, before processing.
What happened to the Reichsbank's remaining reserves in April and May 1945, according to the source?
Answer: They were dispatched by Walther Funk to be buried in Bavaria and disappeared.
In April and May 1945, Walther Funk dispatched the Reichsbank's remaining reserves for burial in Bavaria, from where they disappeared.
How did the Nazi regime's 1933 amendment to the Banking Law change the Reichsbank's leadership appointments?
Answer: Leadership was appointed by the Führer (Hitler).
A 1933 amendment to the Banking Law stipulated that Reichsbank leadership, including the President, would be directly appointed by the Führer.
What happened to valuables like wedding rings and gold teeth from concentration camp victims at the Reichsbank?
Answer: They were deposited under false accounts, melted down, and processed as bullion.
Confiscated valuables from concentration camp victims, including items like wedding rings and gold teeth, were deposited in the Reichsbank under false accounts, melted down into bullion, and processed.
What was the outcome for Walther Funk after World War II concerning his actions as Reichsbank President?
Answer: He was convicted of war crimes at the Nuremberg trials.
Following World War II, Walther Funk was convicted of war crimes at the Nuremberg trials for his actions as Reichsbank President, particularly concerning the handling of stolen assets.
The Reichsbank's note-issuing privilege became exclusive on which date?
Answer: December 31, 1935
The Reichsbank's exclusive privilege for issuing banknotes was formally established on December 31, 1935.
The Deutsche Rentenbank was established after World War II to stabilize the currency.
Answer: False
The Deutsche Rentenbank was established in October 1923, during the Weimar Republic, to stabilize the currency.
The Potsdam Conference decided to immediately liquidate the Reichsbank and distribute its assets.
Answer: False
The Potsdam Conference decided that the Reichsbank would be placed under joint Allied custodianship pending its liquidation, not immediately liquidated.
The Morgenthau Plan proposed a highly centralized post-war banking system for Germany.
Answer: False
The Morgenthau Plan proposed a decentralized system with separate financial institutions in each German state, not a highly centralized one.
The Bank deutscher Länder, established in 1948, was the direct predecessor to the Deutsche Bundesbank.
Answer: True
The Bank deutscher Länder was established on March 1, 1948, and it later evolved into the Deutsche Bundesbank.
In the Soviet occupation zone after WWII, banking functions were consolidated into the Deutsche Bundesbank.
Answer: False
In the Soviet zone, banking functions were consolidated into the Deutsche Notenbank and later the Staatsbank der DDR, not the Deutsche Bundesbank.
Former Reichsbank branches located in territories ceded to Poland after World War I were taken over by the Polish National Bank.
Answer: True
Former Reichsbank branches in territories ceded to Poland after World War I were indeed taken over by the Bank Polski (Polish National Bank).
The Berliner Zentralbank was established independently of the Bank deutscher Länder after WWII.
Answer: False
The Berliner Zentralbank was established on March 20, 1949, and initially operated under an association agreement with the Bank deutscher Länder.
What decision was made regarding the Reichsbank at the Potsdam Conference after World War II?
Answer: To place it under joint Allied custodianship pending liquidation.
The Potsdam Conference decided that the Reichsbank would be placed under joint Allied custodianship, awaiting its eventual liquidation.
Which institution, established on March 1, 1948, later evolved into the Deutsche Bundesbank?
Answer: The Bank deutscher Länder
The Bank deutscher Länder, established on March 1, 1948, served as the precursor to the modern Deutsche Bundesbank.
What was the initial plan for Germany's post-war banking system proposed by the Morgenthau Plan?
Answer: A decentralized system with separate financial institutions in each state.
The Morgenthau Plan initially proposed a decentralized post-war banking system for Germany, featuring separate financial institutions within each state.
Which of the following was NOT a successor institution to the Reichsbank in post-WWII Germany?
Answer: Oesterreichische Nationalbank
The Oesterreichische Nationalbank is the central bank of Austria and not a successor institution to the Reichsbank within Germany.
The Reichsbank's headquarters were located in Munich throughout its entire operational history.
Answer: False
The Reichsbank's headquarters were located in Berlin.
The Reichsbank was exempt from all taxes and fees during the German Empire.
Answer: False
The Reichsbank was exempt from income and trade taxes but was required to serve as the Reich's fiscal agent without compensation.
The Reichsbank's branch network remained static, with no expansion after its initial establishment.
Answer: False
The Reichsbank operated a significant network of branches, expanding from 206 in 1876 to 330 by 1900.
Walther Funk replaced Hjalmar Schacht as President of the Reichsbank and remained in the position until the end of the war.
Answer: True
Walther Funk replaced Hjalmar Schacht as President in January 1939 and served until the end of the war in May 1945.
The main head office building of the Reichsbank was never demolished and remains intact today.
Answer: False
The main head office building was heavily damaged during World War II and was eventually demolished in 1960.
Hermann von Dechend was the last President of the Reichsbank, serving until the end of Nazi Germany.
Answer: False
Hermann von Dechend was the first President of the Reichsbank (1876-1890); Walther Funk was the last President, serving until May 1945.
Heinrich Wolff was the architect responsible for the extension of the Reichsbank head office facing Hausvogteiplatz.
Answer: False
The extension facing Hausvogteiplatz was designed by architects Max Hasak and Julius Emmerich; Heinrich Wolff designed the facility on Kurstrasse.
Hjalmar Schacht served as President of the Reichsbank during both the stabilization of the Weimar Republic and the early Nazi period.
Answer: True
Hjalmar Schacht served as President of the Reichsbank from December 1923 to March 1930 and again from March 1933 to January 1939.
Who was the first President of the Reichsbank, serving from 1876 to 1890?
Answer: Hermann von Dechend
Hermann von Dechend was the inaugural President of the Reichsbank, holding the position from 1876 to 1890.
What was the fate of the Reichsbank's main head office building after World War II?
Answer: It was heavily damaged and eventually demolished in 1960.
The Reichsbank's main head office building sustained significant damage during World War II and was subsequently demolished in 1960.
Which architect designed the large new Reichsbank facility on the other side of Kurstrasse in the early 1930s?
Answer: Heinrich Wolff
The substantial new Reichsbank facility constructed on Kurstrasse in the early 1930s was designed by architect Heinrich Wolff.
Who replaced Hjalmar Schacht as President of the Reichsbank in January 1939?
Answer: Walther Funk
Walther Funk assumed the presidency of the Reichsbank in January 1939, succeeding Hjalmar Schacht.
What was the consequence for the Direktorium members when Walther Funk replaced Hjalmar Schacht in January 1939?
Answer: Most of the other Direktorium members resigned.
Following Walther Funk's appointment as President in January 1939, most of the existing Direktorium members resigned.
Which of the following was a key architect involved in designing Reichsbank branches?
Answer: Heinrich Wolff
Heinrich Wolff was among the key architects responsible for the design of various Reichsbank branches.