3.3 To What Extent Did The Weimar Republic Recover After 1923? Flashcards
Who was Gustav Stresemann?
- member of parliament since 1907
- briefly chancellor in 1923
- best known for his work as foreign minister from 1924 to his death in 1929
How did Stresemann try to solve the hyperinflation crisis?
- Germany’s money was worthless
- he stopped printing old paper money
- replaced it with a new temporary currency: Rentenmark
- this could be exchanged for the old currency
- in 1924 the Rentenmark was replaced by the Reichsmark, a stable currency that remained for 25 years
Did the introduction of the Rentenmark work?
- yes, Germans accepted the new currency and hyperinflation ended
- people who had lost all their savings never got their money back
- they blamed Stresemann and his government
How did Stresemann deal with the French and Belgian troops invaded the Ruhr when Germans stopped paying reparations?
- met with American Vice President Charles Dawes
- arranged for the USA to lend money to Germany
- Germany could now begin to pay what they owed
- a repayment schedule was agreed
Rentenmark def
German currency, introduced in 1924
Dawes Plan def
agreement between the USA and European countries, allowing for US loans to be given to European countries (especially Germany) in order for them to build factories and roads, and stimulate the economy
Was the Dawes plan a success?
- yes. French and Belgian troops left the Ruhr.
- some Germans felt Stresemann had given in to the bullying tactics of the French and Belgians, and demanded an end to reparations
Young Plan def
agreement to reduce reparations, made in 1929 between Germany and the countries they owed money to after WW1
What did Stresemann do to try to improve Germany’s reputation after WW1?
- signed the Locarno Pact with Britain, France, Belgium and Italy in 1925. They promised to never invade each other
- in 1926, joined the League of Nations
- in 1928, signed the Kellogg-Briand Pact. Countries participating agreed never to go to war, unless to defend themselves if they were attacked
What was the League of Nations?
An international peacekeeping organisation which Germany had been banned from when it was first set up 1919
Did Stresemann manage to improve Germany’s reputation?
- Germany regained international status and became an important part of the League of Nations
- some right-wing Germans criticised Stresemann for not demanding back some of the land taken using the T of V
How did Stresemann improve German industries?
- as well as using money from Dawes plan for paying reparations, he used it to build new factories, houses, schools and roads
- this meant more jobs, with Germans earning more money
- some American companies (Ford and Gillette) built factories in Germany
Did Stresemann succeed in improving Germany’s industry?
- slowly, Germany became more prosperous and many Germans were better off
- eg sales of radios rose from 1 million in 1926 to 4 million in 1932
- however, some Germans, including Stresemann, thought that Germany relied too much on American loans
Was Stresemann successful in government
- yes
- he died in 1929
- between 1924 and 1929, there were no attempts to overthrow the government
What were some problems still left after Stresemann’s government?
- there were many political parties and no one party could rule on their own. They had to form coalitions. Often they fell out because they found it hard to agree on priorities, spent a lot of time arguing.
- political parties with extreme ideas (Nazis and Communists) continued to hate politicians in the Reichstag
- large groups of society were still in trouble: farmers’ incomes were very low and middle classes had their savings wiped out by hyperinflation
- prosperity was created by American loans. What if America wanted the money back?
