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Extracts from the British Military Government Law No. 61: First Law for Monetary Reform [Currency Law] (June 20, 1948)

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If the first due date for wages and salaries after 20th June 1948 is later than 29th June 1948 an additional payment in Deutsche Marks shall be made to the person entitled. This shall consist of seventy per cent. of that part of the Reichsmark amount received at the last due date after deduction of taxes on wages and church taxes and contributions to social insurance which corresponds to the proportion of the period beginning on 30th June 1948 and ending on the next regular due date to the total pay period. The additional payment shall be due on 3rd July 1948 and shall not be subject to taxes on wages or church taxes or contributions to social insurances.

Quota per capita

Every inhabitant of the specified area shall receive in cash Deutsche Marks, in exchange for old currency notes as defined in Article IX paragraph 1 (i) of the same nominal amount to a maximum of 60 Deutsche Marks (quota per capita), of which not more than 40 Deutsche Marks shall be paid immediately and the remainder within two months. Where the person entitled can claim amounts in Deutsche Marks as a result of the subsequent conversion of old currency as defined hereinafter (Altgeld), the quota per capita shall be charged against the amount thus due.

The quota per capita shall be paid to the person entitled by the agencies responsible for issuing food ration cards to him. The quota per capita may be collected for the account of third parties, under the same conditions as those under which it is lawful to receive ration cards for the account of third parties.

[ . . . ]

This law shall come into force on 20th June, 1948.


Source: Extracts from the British Military Government Law No. 61: First Law for Monetary Reform (Currency Law) (June 20, 1948), Military Government Gazette, No. 25, p. 848; reprinted in Beata Ruhm von Oppen, ed., Documents on Germany under Occupation, 1945-1954. London and New York: Oxford University Press, 1955, pp. 292-94.

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