The Development of Public Saving and Giro Institutions and its Significance in German Financial Structure 1908-1935

在这个研究计划中，我希望分析主要在两次世界大战期间德国公共金融机构的储蓄银行和吉罗机构的发展。结果，我得出了两个新的观点和事实。首先，储蓄银行最初是作为一个公共机构建立的，因此它经常向当地公社提供信贷，反过来，这保证了储蓄银行的存款。20世纪20年代初，它的业务扩展为一家全能银行，而独立的储蓄银行在财务上首先与省或州的giro机构合并，然后与国家机构（Deutsche Girozentrale）合并。在1931年的金融危机中，他们遭受了地方政府信贷冻结的流动性，并减少了资产和存款。然而，1934年根据《德意志联邦银行法》（Reichsgesetz uberdas Kreditwesen）获得独立法人资格的储蓄和转帐机构，比柏林大银行更快地从大萧条中恢复过来。其次，20年代对基础设施、设施和住宅建设的积极的市政投资是由储蓄银行收集的国内存款资金和通过转帐机构提供的资金。他们还向中小企业提供信贷，而大银行没有考虑到这一点。1933年纳粹掌权后，出现了从储蓄和转帐机构通过长期政府债券，以特别票据的方式向军工企业提供资金的新渠道。这些机构成为纳粹以军备为目的的金融体系的重要工具之一。

In this rearch programme I wish to analyse the development of saving banks and giro institutions of German public financial institutions mainly in the interwar periode. As the result, I arrived at two points of new aspect and fact.First, saving bank was originally established as a public institution, therefore it gave credit often to its local commune and reversely this guaranteed the deposit of its saving bank. While its business expanded to a universal bank at the early twenties, separate saving bank was financially integrated first to the provincial or state giro institution, and then to the national institution (Deutsche Girozentrale). In the financial crisis of 1931 they suffered liquidity of its frozen credit to local governments and reduced its assetts and deposits. However, saving and giro institutions, which got the independent corporation by the law of Reichsgesetz uber das Kreditwesen in 1934, recovered from the Great Depression faster than the Berliner Big Banks.Secondary, the active municipal investment to infrastructure, facilities and house construction of the twenties were financed with domestic deposit fund collected by saving banks and financed through giro institutions. They gave credit also to the middle and small enterprises, which were not taken into account by the Big Banks. After the Nazi came into power in 1933, there appeared a new financial channel from saving and giro institutions through the long government bonds to the munitious industries with the means of special bills. These institutions became one of the important instruments for the Nazi financial system with the purpose of armament.