G German recovery Flashcards
Rentenmark
It was…
A new form of money (currency) which was introduced to end Hyperinflation.
Relevant context…
It restored people’s confidence in the fact that the money in the country actually reflected the value of things.
The impact…
People no longer had to carry around bags instead of wallets and people were willing to use money again instead of using a “bartering” system.
Dawes Plan
It was…
A plan put forward by Charles Dawes where American money would be used to help rebuild the German economy.
Relevant context…
It gave Germany 800 million Rentenmarks to help grow their factory production and jobs and pay war debt (Reparations owed to France).
The impact…
The pressure of paying compensation to France transferred from Germany to American investors and employment and wages in Germany increased.
Young Plan
It was…
A final agreement on the issue of the compensation (reparations) Germany was paying because of WW1.
Relevant context…
The 6.6billion was reduced to 2.2billion and Germany was given until the late 1980s to pay it.
The impact…
This meant taxes could be lowered and people were spending more money and businesses were creating more jobs; Germany was recovering.
Locarno Treaty
It was…
An agreement between Germany and France where Germany promised to respect the new borders between their countries.
Relevant context…
It grew a relationship of trust between Germany and France.
The impact…
It created a feeling that if there were arguments in the future, they would be settled by discussion and not war. Germany was viewed less as an aggressive country / threat.
League of nations
It was…
An international group that was committed to solving global problems. Germany was allowed to join in 1926.
Relevant context…
It made Germany part of international cooperation on problems that were facing the world. They were no longer viewed as the problem facing the world.
The impact…
Germany was a partner to other countries in the world and no longer viewed as an outside threat.
Kellog-Briand pact
It was…
An agreement that countries signed up to, promising not to use war to settle problems.
Relevant context…
It showed countries around the world that Germany was willing to cooperate and only ever use peace as a way to solve their problems.
The impact…
It increased the “spirit of the Locarno Treaty” and made countries even more willing to trust Germany and not see it as an extreme threat to peace.