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[[File:1908-2-7-100large.jpg|thumb|A 100-[[German gold mark|Goldmark]] banknote issued by the German Reichsbank in 1908<ref>{{Cite web|date=2018-01-06|title=German Notes|url=http://germannotes.com/|access-date=2021-08-31|language=en-US}}</ref>]]
The Reichsbank was established by legislation of the [[Reichstag (German Empire)|Reichstag]] of {{date|1875/03/14}}, and assumed its new role on {{date|1876/01/01}} when it succeeded the Bank of Prussia. Meanwhile, between 1873 and 1875
The Reichsbank was technically a private-sector company with individual shareholders, albeit not in joint-stock form, and operated from the start under the close control of the Reich government.<ref name=NMCR>{{Cite web |title=The Reichsbank 1876-1900 |url=https://fraser.stlouisfed.org/files/docs/historical/nmc/nmc_408_1910.pdf |author=National Monetary Commission |publisher=U.S. Senate |location=Washington DC |year=1910}}</ref> The bank was managed by a management board ({{lang-de|Direktorium}}) reporting to a supervisory board ({{lang-de|Curatorium}}). The Curatorium was chaired by the [[Chancellor of Germany|Imperial Chancellor]] and included four additional members, one appointed by the [[German Emperor|emperor]] and the other three by the [[Bundesrat (German Empire)|Bundesrat]]; it was to meet every three months.{{R|Conant|p=202}} The Direktorium was led by the President ({{lang-de|Reichsbankpräsident}}) and all its members were appointed for life by the emperor, upon nomination by the Bundesrat. The law specified that the Direktorium must obey the Chancellor's orders at all times.{{R|NMCR|p=42}} The shareholders were represented in a central committee ({{lang-de|Zentralausschuss}}) of 15 members, which met at least every month under the chairmanship of the Reichsbank's president and could scrutinize the management but not change it or influence policy decision. Three deputies of the {{lang|de|Zentralausschuss}} were allowed to attend all meetings of the Direktorium and to examine the books of the Reichsbank.{{R|NMCR|p=25-28}} The initial shareholders included the former shareholders of the Bank of Prussia (except a few who opted for selling their shares) and new subscribers.{{R|NMCR|p=35}} The bank was exempted from all income and trade taxes,{{R|NMCR|p=30}} but also had to act as the Reich's [[fiscal agent]] without compensation.{{R|NMCR|p=293}}
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