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The Deutsche Golddiskontbank (DGD) was set up on the initiative of Hjalmar Schacht, president of the Reichsbank, as a further means of encouraging the rentenmark plan (see B401-), to encourage foreign loans and to stimulate the German economy. When doubts were expressed in mid-1924 that the public might lose its faith in the rentenmark, the DGD was authorized to issue its own banknotes. When it quickly became clear, however, that the rentenmark would succeed, DGD banknotes were no longer deemed necessary and issuance was shelved.

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