S - H. Vogemann

was available from the acquisition of the Auswanderermark. The normal
rate of exchange was around RM 100,000 to 120,000, whereas we received
around RM 300,000 in Auswanderermarks which we could use for the sale of
a ship.
At the same time, we were now conducting the purchase of the
turbine steamship “Schwarzwald” from the Hamburg-America Line at a price
of M 330,000 Hapag could not immediately approve the sale because the ship
needed to first be released in America. The purchase of the steamship, which
was brokered through the company Knöhr & Burchardt, was therefore concluded
as released under reserve. When the release finally became finalised
a few months later, Hapag would have preferred to withdraw from the sale
of the steamship again as freight rates had in the meantime increased. But
because the sale was firmly concluded, they could no longer withdraw.
The “Auswanderermark” (Emigrant Mark)
Controls on foreign exchange had already been in existence in Germany
since 1931 and from 1933 were enforced more rigorously under
National Socialist rule. The result of this was that significant partial
payments became payable to the Deutsche Golddiskontbank (German
Gold Discount Bank) when Reichsmark were exchanged for foreign
currency on emigration. In 1934, already 65 % of the total money
transferred had to be paid in levies, which in real terms meant that
only 35 % could be exchanged. In 1939, eventually 96 % was due on
emigration. This mechanism naturally worked the other way round: By
bringing foreign currency into the country, large sums of Reichsmark
could be acquired. In the afore-mentioned case, that of purchasing a
ship with credit from Holland, it appears that just such a package deal
had been made: Guilders were brought into the country, the sum paid
out was in RM taken from those partial payments paid by emigrants
to the Golddiskontbank. In this respect, the company would have actually
profited from the foreign exchange control on the one hand and
from the enforced emigration on the other.
Information Dr. Frank Bajohr, Forschungsstelle für Zeitgeschichte (Research Centre for
Contemporary History) Hamburg, September 2009
Chapter 1 – History of the H. Vogemann Company 1886 – 1946 37
1931
The German government embarks
on strict austerity measures to balance
the budget.
“Hoover Moratorium” for deferral
of German reparation payments.
The “National Opposition” joins forces to
become the “Harzburger Front”.
Bankruptcy of the Darmstädterand
National Bank.
Inauguration of the Empire State
Building in New York.
Carl Zuckmayer: “The Captain of
Köpenick” (play).
1932
Number of unemployed at its
highest level (6.1 million).
Hindenburg is re-elected as
Reichs President.
The car manufacturers Audi,
Horch, DKW and Wanderer join
forces to become the Auto-Union.
Gustaf Gründgens first appears
in the role of Mephistopheles in
Goethe's “Faust”.
Hans Fallada: “Little Man,
What Now?” (novel)
Next page:
The Port of Hamburg
with the “Graf Zeppelin”
airship. Panoramic mural
by Erich Kips, 1931.