The effects of Hyperinflation on the People and Economy

The general impression received from three months in South Germany was of a people on short ration, mentally distressed, and living from hand to mouth; a people terribly shattered, terribly demoralized. They were industrious without hope; their moral nature was weakened, their courage undermined, or worn to the point of irritation. Had I hated the Germans when I entered their country, I should have left it with my thirst for vengeance satiated.

I saw nothing of North Germany, where the race is possibly more powerful, more willful, and at the same time more highly industrialized. Let me, therefore, leave any summary of conditions to others, and report upon the one sinister phenomenon that impressed me most — the fall of the middle class.

There was painful evidence of the decay of that class, on all sides. Lawyers were leaving the law, ministers the church. In September I accompanied an eminent man of science to the door of a pawn-shop, where he was to sell his most costly and delicate instruments, expecting to receive for them about one twentieth of what they had cost him. He wanted food for his children; he sold his tools, thus ceasing to function in his chosen profession.

Multiply his case by the thousand, and you have a picture of things as they now are.

The professional class, which creates and sustains civilization, is being rapidly abolished. It needs no Trotzky or Radek to destroy it; the tyranny of circumstance suffices. Owing to the fall of the mark, the rise of prices, and the general dislocation of things, the salaries of these men are not sufficient for their support; and if, in addition to their salary, they were recipients of an income, this is now no longer forthcoming. The scholarship, science, medicine, and art of Central Europe are actually disappearing.

Much more on 1923 Germany here…

 

Related posts:

1. Prediction that Cars will cause Obesity 1923
2. Hoover Vacuum Cleaner 1927
3. Coal Mining Deaths 1923
4. The state of World Prohibition in 1923
5. Telephones Save Lives 1930

This entry was posted on Thursday, March 15th, 2007 at 8:32 am and is filed under 1920's, Economics, Finance, Travel. You can follow any responses to this entry through the RSS 2.0 feed. Comments and pings are closed.

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