Economic Develpoments Of The Golden Age 1924-1928 Flashcards
When was the Dawes plan finalised
April 1924
How did the Dawes plan help Germany
Amount paid each year until 1929 was reduced
Start off with 1b marks, raised each year by 2.5 per year
After that in relations too Germany’s industrial performance
Germany got a loan of 800m from USA
When did the French start to leave the ruhr
Between 1924-1925 giving Germans hope
What did schats do to help mat the Reichsbank
Kept interests rate high to encourage foreign investment
How did the state help firms
Introduction of tariffs and subsidies
What industries done well
Cars. (Although still too expensive for average German). Chemichal. Aeroplane.
Did strikes decrease
Decreased from 1708 in 1925 to 351 in 1926
Then grew to 844 in 1927. Unsteady
Who didn’t benefit
Mittlestand many had been bankrupted after hyperinflation
Industrial workers were earning almost the same as professionals white collar workers
Farmers. Lots had debt when prices were decreasing, increased taxes for people using welfare benefits, there was a global grain surplus and prices dropped in 1925-26
What was young plan
Decided sum of 6.6b reduced to 1.8
Annual payments lasting up to 1988 were increased
All foreign control over reparations ended, france and Britain withdrew all their troops from rhineland by June 1930
What was freedom law
Angry right wing proposed it to take back “war guilt”
Got 13% on national referendum with Hitler playing a role in it
What replaced the reichsmark
Rentenmark-1 - 1trillion reichmark
What did stresserman end
Passive resistance in the Rohr
How did streiserman balance the budget
Cut .expenditure and raise taxes
300,000 civil servants lost their job
What benefits did the Dawes plan lead to
Allies accepted the problem of paying back reparations were real
Loans were granted, with which new machinery, factories, houses and jobs could be provided and the German economy rebuilt
What was the unemployment
There was a massive population growth and large unemployment, especially in the major cities with lots of unemployment
