Emergency Money (
Notgeld) Money put temporarily into circulation, to replace either in whole or in part, the coinage that before its issue represented the currency, and that for a time could function as currency.
Notgeld was mostly issued by other authorities than those issuing regular currency. During the war, a severe shortage of means of payment led to the issue of
Notgeld in various states. The main reasons for this were the hoarding of coins and banknotes, the collapse of the system of payment, and the widening circulation of currencies of belligeren…