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Modern History > Germany - Weimar Economy > Flashcards

Germany - Weimar Economy Flashcards

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1
Q

What was the main German economic problem?

A

Inflation

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2
Q

What other wartime issue compounded inflation?

A

Shortages

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3
Q

Why did govt expenditure remain high after the war?

A

They had to support widows, veterans and millions of demobilised soldiers

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4
Q

How did reparations worsen the economy?

A
  • Most reparations had to be paid in gold or foreign currency
  • As German currency weakened paying became an ever worse issue
  • By 1923 they were fucked
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5
Q

How did the Allies respond to German failure to meet reparations?

A

In 1923 French and Belgian governments invaded the Ruhr

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6
Q

How did workers in the Ruhr react to the invasion?

A

Followed a policy of passive resistance

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7
Q

How did passive resistance worsen the German economy?

A

They paid owners compensation for lost revenue and still paid the workers

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8
Q

How did the Germans meet reparations?

A

Printed more money

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9
Q

What did printing massive amounts of money lead to?

A

Hyperinflation

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10
Q

How much money was being printed?

A

300 paper mills and 150 printing presses printing money 24 hours a day

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11
Q

How did hyperinflation impact normal Germans?

A
  • Saw savings eradicated
  • Standard of living dramatically reduced
  • Debtors benefitted as their debts were wiped away
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12
Q

How did Stresemann solve the 1923 crisis?

A
  • Called off passive resistance
  • Restarted reparation payments
  • Negotiated the Dawes Plan
  • Worked with Schacht and Luther to resolve inflation
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13
Q

How did Stresemann solve inflation?

A

Created a new currency the Rentenmark with one worth one trillion of the old one. They linked it to German industrial and agricultural assets.

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14
Q

What did the Dawes plan do?

A
  • Reduced payment to 1 million
  • An international loan made available to Germany
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15
Q

How did living standards improve from 1924-30?

A

Wages rose every year

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16
Q

By 1928 how had the German economy improved?

A
  • Production equalled 1913 levels
  • National income 12% higher than 1913
  • Unemployment was very low
  • Inflation was low
  • 25.5 billion marks loaned to Germany
17
Q

What were negative features of the Germany economy from 1924-29?

A
  • Agriculture in recession from 1927
  • Large dependence on US
  • Unemployment never below 1.3m
  • Not as high performance as UK and France
  • High tension between workers and business owners
18
Q

What did Stresemann say in 1929 about the German economy?

A

Dancing on a volcano

19
Q

When was the Young Plan?

A

1929

20
Q

What was the impact of the depression?

A
  • National income shrunk by 39% from 1929-32
  • Unemployment rose to 6 million by 1932
  • The US had less of a need for imports
  • 50,000 business bankrupted by 1932
21
Q

How did Mullers Grand Coalition fail?

A

Couldn’t agree on how to solve unemployment and Hindenburg wouldn’t back Muller over this issue.

22
Q

How did Bruning fail in his response to depression?

A
  • Was forced to use Article 48
  • Policies of cuts and austerity
  • Was too focused on fixing reparation payments
23
Q

How did Weimar response to the depression help Hitler

A

They increased the crisis of democracy and made Hitler a viable option.

24
Q

When did Germany join the League of Nations?

A

1926

25
Q

What did the Treaty of Berlin do?

A

Helped USSR relations

26
Q

What did the Young plan do?

A

Reschedule payments

27
Q

What were benefits of Stresemanns policies?

A
  • Created credibility for Germany
  • Improved living standards
  • Increased political stability
28
Q

What did the Kellogg-Briand pact of 1928 do?

A

Renounce use of force to solve conflict

29
Q

How did Stresemann’s death in 1929 impact Weimar?

A

Their mastermind behind US backing wasn’t there to deal with the crisis

Modern History (15 decks)

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