Discussion - Member to Member Sales - Research Center
Discussion - Member to Member Sales - Research Center
09:58:31pm
The topic itself should be self explanatory but I would really like to find more information about the motivation of "Savings Week". Every stamp issued by the DDR has some type of historical/political motivation and aside from the obvious, any further information would be fantastic.
Kelly
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10:55:07pm
I spent an interesting 20 minutes researching this. I do not have a definitive answer for you yet, but I can certainly offer the ends of a few "threads" that might lead to a very interesting study.
I started with a Google search for "DDR Sparwoche 1957". Since this translates simply to "Savings Week" a lot of commercial sales came up! However, look at this PDF newspaper from Bonn of 1957:
http://www.kas.de/wf/doc/kas_24555-544-1-30.pdf?110902100527
Look at the bottom of the last page. The small article labelled "SPARWOCHEN" notes the issuance of the stamps, but mentions a "Geldumtauschaktion", which is a currency reform.
The paragraph translates (in broken english that I have to work over):
SAVINGS WEEKS. At the time of the
Currency exchange action, the many residents
Central Germany to their savings
pounding left, gave the Soviet zonal
Postal Administration a special stamp with
the inscription: "passbook - savings weeks" out.
Note the reference to "Savings pounded".
Further search for a 1957 currency reform returned several interesting articles, but it appears (this is preliminary research, so I stand to be corrected) that there was a sudden currency reform on Oct. 13, 1957 that wiped out the Ostmark overnight. Only 300 marks could be converted to the new currency.
That is as far as I got, but since the stamp was issued on October 10, and the reform happened Oct. 13, were they suggesting to start saving after the reform (which apparently was not announced), or were they truly cynical and trying to get as much money into bank accounts in the next two days so that it could be wiped out?
I think you have stumbled on to a fascinating issue. If I had more time I'd do some more research. I hope this gives you some leads.
Also, try this German video:
http://www.medien-tube.de/video/Die-Welt-unserer-Tage-im-Spiegel-der-Zeit-Folge-523---Geldumtauschaktion-in-der-Ostzone/89abbaae77b3e83a7805
Roy
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02:54:04pm
Now that I'm more awake and thinking with a clearer mind, I think I've got this issue figured out (I'm open to anyone who can correct me or add to it).
On March 1st, 1948, following WWII, the Bank Deutscher Länder was created in Germany under the Allies. It was modeled after the US banking system. It remained under the guidance of the Allies until 1951 when it became independent. During the time of the Allied Occupation, it consisted of independent note-issuing banks and was independent of the Federal Republic of Germany.
In 1957, the Federal Republic of Germany (i.e. West Germany) established the Bundesbank which replaced the Bank Deutscher Länder. Under the Bundesbank Act of July 26th, 1957, the Bundesbank became the central bank of Germany and it abolished the system of independent note-issuing banks.
The one thing that I'm not sure of is the issue of the change from the Reichsmark and Rentenmark of the Allied Occupation to the Deutsche Mark. The Deutsche Mark was issued by the Bank Deutscher Länder which later became the Bundesbank which made the Reichsmark and Rentenmark no longer legal (such as what happened after the Euro came into effect in later years). However, at this time, in the DDR, the Reichsmark was still considered legal tender so the money coming in from West Germany was worthless which caused the sudden inflation that Roy mentioned (in 1948). To avoid this, employees in the district offices of the DDR bank started to affix adhesive coupons to the Reichsmark and the Rentenmark banknotes so that the people could prove their origin of being in the DDR and then began to issue its own Deutsche Mark when the central bank of the DDR known as the Deutsche Notenbank was created.
So my thinking is that even though the DDR issued its own banknotes from July 24th, 1948 known as the Deutsche Mark von der Deutschen Notenbank (nicknamed Ostmark / East Mark by the West), it was still of equal value to the Deutsche Mark issued by the Bank Deutscher Länder.
Taking this into consideration and looking at the article Roy mentioned, it appears that there was a lot of anxiety among the people (and probably the German Democratic Republic government) as to the status of their monies being held in the Bundesbank, central bank in West Germany in 1957.
The article Roy mentioned says that at the time of the money exchange operations (taking place in West Germany), the people of the DDR were becoming anxious about their savings in central Germany. In order to ease the anxiety of the people, the Soviet Zone Postal Administration issued a special stamp with the inscription "Savings Account - Savings Week".
Perhaps with the change of the Bank Deutscher Länder to the Bundesbank, the people became anxious thinking that this change would again deflate their currency so the stamps were issued as a way to encourage the people of the DDR that their money was safe?
Kelly
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A Service Dog gives a person with a disability independence. Never approach, distract or pet a working dog, especially when (s)he is in harness. Never be afraid to ask questions to the handler (parent).
20 Oct 2012
09:58:31pm
In my research to find something to explain "Savings Week" for the DDR issues of October 10th, 1957 (Scott 367, 368, Michel 598, 599, SG E337, E338), I'm coming up with a blank.
The topic itself should be self explanatory but I would really like to find more information about the motivation of "Savings Week". Every stamp issued by the DDR has some type of historical/political motivation and aside from the obvious, any further information would be fantastic.
Kelly
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this post
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20 Oct 2012
10:55:07pm
re: Another DDR question - 1957 - Savings Week
I spent an interesting 20 minutes researching this. I do not have a definitive answer for you yet, but I can certainly offer the ends of a few "threads" that might lead to a very interesting study.
I started with a Google search for "DDR Sparwoche 1957". Since this translates simply to "Savings Week" a lot of commercial sales came up! However, look at this PDF newspaper from Bonn of 1957:
http://www.kas.de/wf/doc/kas_24555-544-1-30.pdf?110902100527
Look at the bottom of the last page. The small article labelled "SPARWOCHEN" notes the issuance of the stamps, but mentions a "Geldumtauschaktion", which is a currency reform.
The paragraph translates (in broken english that I have to work over):
SAVINGS WEEKS. At the time of the
Currency exchange action, the many residents
Central Germany to their savings
pounding left, gave the Soviet zonal
Postal Administration a special stamp with
the inscription: "passbook - savings weeks" out.
Note the reference to "Savings pounded".
Further search for a 1957 currency reform returned several interesting articles, but it appears (this is preliminary research, so I stand to be corrected) that there was a sudden currency reform on Oct. 13, 1957 that wiped out the Ostmark overnight. Only 300 marks could be converted to the new currency.
That is as far as I got, but since the stamp was issued on October 10, and the reform happened Oct. 13, were they suggesting to start saving after the reform (which apparently was not announced), or were they truly cynical and trying to get as much money into bank accounts in the next two days so that it could be wiped out?
I think you have stumbled on to a fascinating issue. If I had more time I'd do some more research. I hope this gives you some leads.
Also, try this German video:
http://www.medien-tube.de/video/Die-Welt-unserer-Tage-im-Spiegel-der-Zeit-Folge-523---Geldumtauschaktion-in-der-Ostzone/89abbaae77b3e83a7805
Roy
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A Service Dog gives a person with a disability independence. Never approach, distract or pet a working dog, especially when (s)he is in harness. Never be afraid to ask questions to the handler (parent).
21 Oct 2012
02:54:04pm
re: Another DDR question - 1957 - Savings Week
Now that I'm more awake and thinking with a clearer mind, I think I've got this issue figured out (I'm open to anyone who can correct me or add to it).
On March 1st, 1948, following WWII, the Bank Deutscher Länder was created in Germany under the Allies. It was modeled after the US banking system. It remained under the guidance of the Allies until 1951 when it became independent. During the time of the Allied Occupation, it consisted of independent note-issuing banks and was independent of the Federal Republic of Germany.
In 1957, the Federal Republic of Germany (i.e. West Germany) established the Bundesbank which replaced the Bank Deutscher Länder. Under the Bundesbank Act of July 26th, 1957, the Bundesbank became the central bank of Germany and it abolished the system of independent note-issuing banks.
The one thing that I'm not sure of is the issue of the change from the Reichsmark and Rentenmark of the Allied Occupation to the Deutsche Mark. The Deutsche Mark was issued by the Bank Deutscher Länder which later became the Bundesbank which made the Reichsmark and Rentenmark no longer legal (such as what happened after the Euro came into effect in later years). However, at this time, in the DDR, the Reichsmark was still considered legal tender so the money coming in from West Germany was worthless which caused the sudden inflation that Roy mentioned (in 1948). To avoid this, employees in the district offices of the DDR bank started to affix adhesive coupons to the Reichsmark and the Rentenmark banknotes so that the people could prove their origin of being in the DDR and then began to issue its own Deutsche Mark when the central bank of the DDR known as the Deutsche Notenbank was created.
So my thinking is that even though the DDR issued its own banknotes from July 24th, 1948 known as the Deutsche Mark von der Deutschen Notenbank (nicknamed Ostmark / East Mark by the West), it was still of equal value to the Deutsche Mark issued by the Bank Deutscher Länder.
Taking this into consideration and looking at the article Roy mentioned, it appears that there was a lot of anxiety among the people (and probably the German Democratic Republic government) as to the status of their monies being held in the Bundesbank, central bank in West Germany in 1957.
The article Roy mentioned says that at the time of the money exchange operations (taking place in West Germany), the people of the DDR were becoming anxious about their savings in central Germany. In order to ease the anxiety of the people, the Soviet Zone Postal Administration issued a special stamp with the inscription "Savings Account - Savings Week".
Perhaps with the change of the Bank Deutscher Länder to the Bundesbank, the people became anxious thinking that this change would again deflate their currency so the stamps were issued as a way to encourage the people of the DDR that their money was safe?
Kelly
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