"NOTGELD 1914-1924 Album containing 612 German and Austrian necessity bills issued during the First World War: Reutergeld bills, as well as Fabrik- und Industrie-Notgeld, Paderborn, Arnsberg, Stargard, Wunstorf, Pernau, Stift Ardagger, Wismar, etc. bills. This album was made by Lieban in Holland and sold after 1924. At the end of the album, stamp of "LIEBAN Notgeld (emergency money) Haagschestraat 5 DEN HAAG Holland". Brown binding (landscape format 36 x 29 cm) with slightly worn corners. Most bills in mint condition. The production of emergency money, or "Notgeld" in German, exploded during the First World War in Europe and the colonial territories. The main reason for this was that the copper and nickel stocks used to manufacture divisional coins were now being used in armaments factories, giving rise to paper coupons and coins made from poor non-strategic metals (iron, aluminum) at forced exchange rates. In the aftermath of the world conflict, it took some time for governments to reorganize their finances and monetary policies, and the necessity currencies continued to exist, while hyperinflation became rife. From the summer of 1918 onwards, necessity money began to be issued: cities, chambers of commerce and large companies began to manufacture banknotes and coins, which are important historical testimonies.