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100 000 000 000 Mark Reichsbahndirektion
| Issuer | Reichsbahndirektion Stuttgart |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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|---|---|
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| Reverse lettering | 100 MILLIARDEN |
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| Protection type | Watermark |
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| Comments |
The Reichsbahndirektion Stuttgart was one of several regional railway directorates authorized to issue emergency currency — Notgeld — during the hyperinflation crisis of autumn 1923, when the Reichsbank could not physically produce denominations fast enough to keep pace with collapsing purchasing power. By November 1923, a single US dollar was worth roughly 4.2 trillion Marks; a hundred billion was, briefly, useful.
Railway directorates had the institutional infrastructure — payroll obligations, captive workforce, regional distribution networks — that made them practical emergency issuers. Stuttgart's notes circulated primarily within Württemberg.