Dawn of a golden age Flashcards
When was passive resistance called off
September 1923
What was an issue with ending passive resistance
Unpopular and risky move
Why was passive resistance ended
Stresemann believed there was no alternative
What was a positive of ending passive resistance
No longer paying people for not doing work, would help the economy
What was the name of the new currency
Rentenmark
When was the rentenmark introduced
November 1923
Who controlled how much money was in circulation
Government
Who was monitoring the economy
Schacht
What did government do to balance the budget
Cut spending and raised taxes, cut government employees wages and civil servants lost their jobs
Why did confidence for the government grow
As debt was falling
What was an issue with businesses
Weaker companies relied on credit, they crumbled and we saw an increase in bankrupt companies
What actions were taken to stabilise the government
Called off passive resistance, introduced a new currency and balanced the budget
