The Versailles hyperinflation begins: Reich Chancellor K. Joseph Wirth and the Reichstag, of the Weimar Republic of Germany, submit to the “London Ultimatum,” and agree to make annual payments of 2,000,000,000 gold Marks, for the next 66 years, as reparations for the Great War (World War I).  At this time the exchange rate between the Reichsmark and the United States Dollar is 60 to one.

       [restored 6/20/2022]