Golden Age - Fixing Currency & Dawes Plan

Question 1

The three ways hyperinflation was fixed

Answer 1

• Issued Rentenmark
• Ended passive resistance
• Cut expenditure & raised taxes

Question 2

Why did Stresemann end passive resistance?

Answer 2

• Government stopped paying striking workers
• Increased production

Question 3

Who invented the Rentenmark?

Answer 3

Hjalmar Schacht

Question 4

How many civil servants lost jobs due to government financial reforms?

Answer 4

300,000

Question 5

Number of bankrupt companies in 1923

Answer 5

233

Question 6

Number of bankrupt companies in 1924

Answer 6

6000+

Question 7

What was Hjalmar Schacht’s job in 1923?

Answer 7

Reich Currency Commissioner / Head of Reichsbank

Question 8

Who was Charles Dawes?

Answer 8

US banker

Question 9

When was the Dawes Plan?

Answer 9

April 1924

Question 10

Was the ‘Dawes Plan’ Stresemann’s idea?

Answer 10

No, but he took credit

Question 11

Did the Dawes Plan change the reparations amount?

Answer 11

No

Question 12

How did the Dawes Plan change annual payments?

Answer 12

• Reduce sum to 1000 million marks
• Sum to increase by 2500 million per year

Question 13

How long would reparation payments be reduced by Dawes Plan?

Answer 13

Until 1929 (5 years)

Question 14

How much did USA loan Germany in ‘Dawes Plan’?

Answer 14

800 million marks

Question 15

Why did USA invest in the Dawes Plan?

Answer 15

Catalyst for loan repayments from France

Question 16

How did Dawes Plan work between the countries involved?

Answer 16

• USA loans Germany
• Germany rebuilt industry and pays reparations to France
• France pays off war loans to USA

Question 17

What did Stresemann call the Dawes Plan?

Answer 17

‘Economic Armistice’

Question 18

Which two parties criticised the Dawes Plan?

Answer 18

• DNVP
• NSDAP

Question 19

When did France & Belgium leave the Ruhr?

Answer 19

1925