Chapter 5 - Economic Developments Flashcards
When was passive resistance called off?
September 1923
What did the end of passive resistance mean?
That the government stopped paying workers who refused to work for the French
What currency was introduced in November 1923?
Rentenmark
Who was in charge when the new currency was issued?
Hjalmar Schact
What was balancing the budget??
- Cut expenditure
- Raised taxes
This would reduce debt and confidence was restored
When was the Dawes plan?
April 1924
How much did Germany have to pay for reparations under the Dawes Plan?
Start with 1000 million marks and the sum should be increased annually over 5 years by 2500 million marks per year
How much did America loan Germany under the Dawes plan?
800 million marks
How many new homes were there in 1926?
205,793
Who were there improvements for?
Ordinary German workers especially those backed by powerful trade unions
How much did wages increase by in 1927?
9%
How much further did wages increase by in 1928?
12%
How many people were unemployed by 1926?
3 million
Why was there many people unemployed?
Companies were reducing workforces to make efficiency savings
Between 1922-25 how much did mining companies reduce their workforce?
136,000
Between 1925-29 by how much further did mining companies reduce their workforces?
56,000
When was the Young plan?
1929
How much was the reparation bill reduced to under the Young Plan?
1.8 million
In return for the reparations being paid what did France and Britain agree to?
To withdraw their troops from the Rhineland by June 1930
Who was the leader of the DNVP?
Alfred Hugenberg
What campaign did the DNVP launch?
The group demanded that their ‘freedom law’ was demanded to national referendum
What was the freedom law?
Required the government to reject the war-guilt clause of the TOV and demand immediate evacuation of occupied areas
What happened to the freedom law?
Debated in the Reichstag and rejected in the referendum
