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20 000 000 000 Mark Deutsche Reichsbahn
| Issuer | Deutsche Reichsbahn (German National Railway) |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | Deutsche Reichsbahn Zwanzig Milliarden Mark Dieser Schein wird an allen öffentlichen Kassen wie gesetzliche Zahlmittel angenommen; er kann vom 1. Januar 1924 ab mit dreimonatiger Frist zur Einlösung aufgerufen werden. Berlin, den 18. Oktober 1923 Der Reichsverkehrsminister |
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| Protection description | Interlaced squares |
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The Deutsche Reichsbahn issued its own emergency currency during the hyperinflation peak of 1923 because the Reichsbank simply could not print and distribute denominations fast enough to meet daily wage demands. State enterprises — railways, municipal utilities, large industrial firms — were legally permitted to issue their own notgeld, and the Reichsbahn, as one of Germany's largest employers, had both the authority and the urgent need to pay hundreds of thousands of workers in something spendable before the next zeroes were added.
Twenty billion marks. By late 1923, that figure would not have covered a modest train fare for long.