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| 正面描述 | Cream-toned Stadtkassenschein printed in dark brown letterpress, the upper portion carrying the issuer's title in elaborate blackletter script within a foliate border running along all four edges. The denomination 'Zwanzig Millionen Mark' is set in large decorative Gothic lettering across the centre, with a pale underprint reading 'MILLIONEN' in block capitals. A date line reading 'Stuttgart, 20. September 1923' appears below the promise-to-pay clause, flanked at the foot by two manuscript signatures above their respective titles and a central oval Stadtgemeinde Stuttgart seal bearing a prancing horse. |
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| 签名 | Oberbürgermeister and Stadtpfleger |
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Stuttgart issued this note during the hyperinflation peak of 1923, when municipal governments across Germany were forced to print emergency currency — Notgeld — because Reichsbank notes could not be produced fast enough to meet daily transactional demand. The Stadtpflege, Stuttgart's civic treasury office, acted as the issuing authority rather than a commercial bank, a common arrangement for Württemberg's larger cities that gave local government direct control over the emission.
At 20 million Mark, this denomination reflects the late-summer acceleration of 1923 before the stabilization brought by the Rentenmark in November. Notes of this face value had purchasing power measured in days, sometimes hours.