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The Öffa bill or job-creation bills were a financial instrument created in 1932 by the German imperial government aimed at additional fund-raising for public building initiatives and later for job creation schemes.

The Öffa bill was the blueprint for the Mefo bills which were designed following the same scheme.

History
In 1932, the Öffa change was created by the second cabinet led by Heinrich Brüning after consultation with the then President of the Reichsbank, Hans Luther. The bills were issued German Society for Public Works AG (founded 1st August 1930) and rediscounted by the Reichsbank. With the capital thus raised, the German Society for Public Works AG financed public building initiatives. It was a shell company without sufficient capital. Nevertheless, the bills were discounted by of the Reichsbank. Effectively, the Reichsbank financed public building projects.

As a result of the global economic crisis was this hidden money creation by stimulating the economy. The German Society for Public Works AG brought into circulation Öffa bills worth 1.26 billion Reichsmark. In general, the duration of a bill was 3 months but it could be prolonged to 5 years.

Economically, this meant an expansion of the money supply. As this inflation promoted, Hans Luther agreed to only a small volume.

The Kurt von Schleicher's second Cabinet decided to expand the Öffa bill scheme. Öffa bills were now issued by other (mostly public) financial institutions such as the German Verkehrskreditbank] which had issued Öffa bills worth 1 billion [[Reichsmark. When after the Machtergreifung of January 1933, Adolf Hitler wanted to extend the scheme to rearmament, Hans Luther disagreed, and he was replaced on 16 March 1933 by Hjalmar Schacht. Thus, the way was open for an expansion of this form of fundraising. With the Mefo bill, the model of Öffa exchange was used extensively.

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