Definition of Deutschmark

The German currency, Deutsche Mark (DM), was in use from 1948 until the introduction of the euro in 2002. The name of the currency, Deutschmark, can be broken down into two parts: "Deutsch," which means "German" in English, and "Mark," which has its roots in the Low German word "merke," meaning "marks" or "notches" in reference to the notches carved into wooden poles to mark boundaries. Following World War II, a currency reform was enacted in West Germany to combat hyperinflation that had reached catastrophic levels. The Deutsche Mark was introduced in 1948 as part of this effort to stabilize the region's economy. The use of the German term "Mark" for the currency reflected a desire to reconnect with Germany's past and rebuild national identity after the turmoil and trauma of the Nazi era. Interestingly, the term "Mark" has a long and varied history in Germany. It originally referred to the territory governed by a medieval nobleman, a "markgrave" or "marquis." As trade and commerce grew, the term "Mark" came to be associated with goods and measurement, specifically, as previously mentioned, wooden poles that served as boundaries (and therefore as a unit of measurement for land and distance) as well as weights (such as for spices and peppercorns). By the late 19th century, "Mark" had become a common unit of currency used in many German states, eventually being adopted for the new national currency in the early postwar years.