Makeshift bill (ersatz bill)

Paper money issued in times of war and emergency by local authorities – sometimes also by banks and large companies – especially in Germany; usually intended only for circulation within a specific city or region. – See validation, substitute coins, monetary stability, inflation, galloping, lug-and-frog thesis, emergency money.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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