Saar mark explained

Saar Mark
Local Name1:Saar-Mark
Local Name Lang1:de
Local Name2:Mark sarrois
Local Name Lang2:fr
Issuing Authority:Banque de France
Date Of Introduction:16 June 1947
Replaced Currency:Reichsmark
Date Of Withdrawal:20 November 1947
Replaced By Currency:French franc (1947)
Saar franc (1954)
Pegged With:French franc (20 French francs = 1 Saar mark)
Superunit Ratio 5:-->
Subunit Ratio 5:-->
Symbol Subunit 5:-->
Nickname Subunit 5:-->
Plural Subunit 5:-->
Used Banknotes:1, 2, 5, 10, 50, 100
Obsolete:yes

The Saar mark was a currency issued on 16 June 1947 by the French government for use in Saar. It was at par with the German Reichsmark, and composed of six denominations of banknotes, 1, 2, 5, 10, 50 and 100 mark. The aim of its introduction was to prepare an economic union of the Saar with France. In addition, the exchange enabled the French administration to get an overview of the total amount of capital available in the Saar region. It also served to prevent speculative capital transfers between the Saar and the rest of Germany in view of the introduction of the franc.

However, the Saar mark notes were soon replaced following the integration of the Saar into the French currency area. The Saar franc was the currency of the Saar Protectorate and, later, the state of Saarland in the Federal Republic of Germany between 20 November 1947 and 6 July 1959. It was valued at par with the French franc, and French coins and banknotes circulated alongside local issues.

History

The French Government issued on 5 June 1947 a decree creating an economic mission under the authority of the Military Governor whose task was to manage economic problems in Saarland.[1] The Saar Mark began circulating on 16 June.

The end of the Saar mark and its replacement by the French franc was enterined by a law of the French Parliament on 15 November 1947.[2]

References

General references

Notes

External links

Notes and References

  1. Decree 1947-1003 of 5 June 1947 . . 1947–133 . 5207 . 6 June 1947 . French . 21 October 2020.
  2. Law 1947-2158 of 15 November 1947 . . 1947–268 . 11294 . 15 November 1947 . French . 21 October 2020.