Abstract
On October 13, 1957, the GDR implemented a currency reform, requiring
citizens to exchange old bills for new bills 1:1. Money deposited at
banks was not affected. Officially, this was intended to devalue the
East German money that had flowed to West Berlin and West Germany. While
the currency reform had little impact on some citizens, it affected
those GDR citizens - individual farmers, private entrepreneurs and the
self-employed - who held large amounts of cash and had to prove that
they had acquired it legally. As a consequence, a considerable amount of
cash was then not submitted for exchange, either because it was in the
West or because the owners wanted to avoid being checked. While East
German citizens had mixed responses to the 1957 currency reform, this
news segment only captured positive responses of East Berliners to the
currency reform.