The Rise and Fall of the Third Reich: A History of Nazi Germany

by William L. Shirer

From then on, goaded by the big industrialists and landlords, who stood to gain though the masses of the people were financially ruined, the government deliberately let the mark tumble in order to free the State of its public debts, to escape from paying reparations and to sabotage the French in the Ruhr. Moreover, the destruction of the currency enabled German heavy industry to wipe out its indebtedness by refunding its obligations in worthless marks. The General Staff, disguised as the “Truppenamt” (Office of Troops) to evade the peace treaty which supposedly had outlawed it, took notice that the fall of the mark wiped out the war debts and thus left Germany financially unencumbered for a new war. The masses of the people, however, did not realize how much the industrial tycoons, the Army and the State were benefiting from the ruin of the currency. All they knew was that a large bank account could not buy a straggly bunch of carrots, a half peck of potatoes, a few ounces of sugar, a pound of flour. They knew that as individuals they were bankrupt. And they knew hunger when it gnawed at them, as it did daily. In their misery and hopelessness they made the Republic the scapegoat for all that had happened. Such times were heaven-sent for Adolf Hitler.