Economy Stresemann and recovery

Question 1

When did Stresemann become Chancellor and Foreign Minister?

Answer 1

August 1923

Question 2

How long did Stresemann’s coalition government last for?

Answer 2

Until November 1923

Question 3

When and what replaced the Mark?

Answer 3

In 15 November 1923, the Rentenmark replaced the Mark

Question 4

Who was the President of the Reichsbank and when was he appointed?

Answer 4

Hjalmer Schacht in November 1923

Question 5

When and what replaced the Rentenmark?

Answer 5

In August 1924, the Reichsmark replaced the Rentenmark

Question 6

When did Stresemann call off the passive resistance in the Ruhr?

Answer 6

26 September 1923

Question 7

When was emergency money banned?

Answer 7

22 November 1923

Question 8

When did negotiations for the Dawes plan begin?

Answer 8

April 1924

Question 9

When did the Dawes plan come into force?

Answer 9

1 September 1924

Question 10

What was the Locarno Treaty and when was it signed?

Answer 10

The Locarno treaty was an agreement to accept the borders set out by the Treaty of Versailles as well as the demilitarisation of the Rhineland

Question 11

When did Germany join the League of Nations?

Answer 11

10 September 1926

Question 12

When did Germany sign the Kellog-Briand pact?

Answer 12

27 August 1928

it outlawed war

Question 13

When did negotiations for the Young plan begin?

Answer 13

1929

Question 14

When did Stresemann die?

Answer 14

3 October 1929

Question 15

What was the Dawes plan?

Answer 15

Agreement for Germany to pay reparations to the Allies
Would last 5 years
Extended the deadline for payments
Introduced loans from the US

Question 16

What was the Young plan?

Answer 16

Reparations reduced to 37000 million Marks
Annual payments (which would reduce over the time) for the next 58 years
Updating the Dawes plan after it had done it’s 5 years
Also included loans from the US

Question 17

What was the opposition to the Young plan?

Answer 17

In July 1929, Alfred Hugenberg led the national opposition against the Young plan by trying to pass the ‘freedom bill’ in the Reichstag

Question 18

What was significant about the national opposition?

Answer 18

Hitler and the NSDAP backed the Young plan. Hitler received a lot of the limelight during the crisis and was able to promote the Nazi party to the German people.

Question 19

How did businesses help with recovery?

Answer 19

Surviving big businesses formed cartels whose fixed prices helped stabilise the economy. Some cartels organised themselves into associations of shared interests. Many factories rebuilt with time and motion thinking. However significant levels of dispute between business owners and workers as workers wanted better conditions, increased wages and less hours. Strikes and lockouts from workers common but slow decrease in 26-27 but still present.

Question 20

Trade recovery after inflation

Answer 20

Initially it was difficult to establish international trade links especially with Allies due to bad feelings post war. Shifting in world trade due to US policy of isolation leading to tariffs on foreign goods being introduced and Germany suffered from heavier tariffs as part of reaction of many countries to Germany’s part in war. However Germany produced steel and chemicals other countries needed so with admission to League of Nations and other international agreements set up by Stresemann, Germany’s exports were back to 1913 level by 1926 and 34% increase in 1929

Question 21

Agriculture in the economy

Answer 21

Big landowners had political influence to block farming reforms which did not work in their favour such as 1918 Reich Settlement Law. Strung out on negotiations over land sales. Influence of wealthy land owners allowed them to press for higher subsidies benefitting those with big farms.

Question 22

Government spending in economy

Answer 22

New economy was built on foreign loans with expectation they would be renewed as world economy improved. Subsidised grain productions, industry and spent heavily on social welfare, providing housing and benefits for poorest. Funded by borrowing and taxation. Most people paid less tax and resented idea of tax rises. Industrial expansion and production was damaged by constant disputes between businesses and workers affecting productivity and increasing wages until 1930 until depression hit when people were willing to work for any wage.