Swiss Banking pp 199-220 | Cite as


  • Hans Bauer
  • Warren J. Blackman


The years following the 1922 post-war depression were characterised by a re-building of the monetary and banking systems of Europe on a quite different foundation than had been seen in the past. Stability returned to Germany with the introduction of the Rentenmark (one Rentenmark = 1 billon paper marks), and in the autumn of 1923 the budget had finally been balanced. Similarly, the currencies of Austria and Hungary had been stabilised.


Foreign Exchange National Income Foreign Exchange Market Swiss Franc Capital Export 


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  1. 6.
    Quoted in Bauer, Swiss Bank Corporation, 1872–1971, p. 244. Swiss Bank Corporation, Basle, 1972, p. 244.Google Scholar
  2. 9.
    Kellenberger, E., Kapitalexport and Zahlungsbilanz, Vol. I, p. 245 and p. 307. Pollard and Holmes, Edward Arnold, London, 1972, p. 307.Google Scholar
  3. 11.
    Schacht, Hjalmar, My First Seventy-Six Years, pp. 316–18, re-printed in Polland and Holmes, Document of Economic History, Edward Arnold, London 1972. p. 484–5.Google Scholar

Copyright information

© The estate of the late Hans Bauer and Warren J. Blackman 1998

Authors and Affiliations

  • Hans Bauer
    • 1
  • Warren J. Blackman
    • 2
  1. 1.Swiss Bank CorporationSwitzerland
  2. 2.The University of CalgaryCanada

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