In the topsy-turvy world of a Germany defeated in the First World War, most of the country's residents found themselves in severe economic trouble due first to a hyperinflation caused by the government's attempt to pay off a reparations judgment foisted upon Germany by the victorious Allies in 1918 -- said reparations to last until 1980! -- and then by a crushing depression in 1929, when the country was finally starting to show signs of economic stability after the "Years of Hunger". It was during the early years of this hyperinflation, that the value of the German Mark fell in value against the Dollar so far and so rapidly, that eventually, the federal government could not only not print money fast enough to keep up with the currency's devaluation, but the cost to print the money was more than the actual value of what was being printed! To make up for the shortfall in currency, local governments, railway directorates and even hotels started printing their own currency, de facto creating a secondary, if local, valid currency next to the official Mark. This 'emergency money', known as Notgeld in German, was used in varying degrees until the end of 1923.
Most of this Notgeld had quite beautiful designs printed on them and most of these designs were culturally or landscape related. Some had religious motives. Most notorious were those notes which had anti-Semitic themes to them, something always present and latent in German history since the late Middle Ages, but now being proclaimed and embraced more stridently in times of economic instability, when Jews once again became acceptable targets as either the epitome of the red, Bolshevik despoiler of a middle class they could not ever belong to spiritually or economically or as parasitic, noveau riche middlemen, who lived off the sweat of others, creating nothing of value, but living off the value created by the host peoples they exploited. At least, this was the view of the Jew by their enemies and for whom there was no longer a place in European society no matter who or what they were or what they contributed to the politics, culture and economy of the lands, in which they lived.
This note was issued in TOSTEDT in 1921. On the face of the note, two Jews are shown hanging from a tree. The note you will receive is in uncirculated condition.
Item will be shipped in card stock to protect it.