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History: Germany > History: Germany: Topic 4 > Flashcards

History: Germany: Topic 4 Flashcards

the weimar economy

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1
Q

How did hyperinflation occur? (5)

A

1- through the demands for more money after paying the First World War 1 instalment (6.6million)
2- passive resistance
3- through deficit financing (encouraged inflation)
4- the government not being able to pay for war (86% paid through loans or tax)
5- the need to pay for civil servants, those who received welfare benefits etc while on strike.

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2
Q

What was deficit financing?

A

the maintenance of a call for good
this creates work
overcome the problems of demobilising millions of returning troops
cover the cost of public spending on an extensive welfare state
reduce the real value for national debt.

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3
Q

How were reparations paid?

A

through gold reserves or assets of a country, money was too unreliable as it could be worthless.

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4
Q

Is inflation good and why?

A

tiny amounts of inflation as it stimulates a countries economy, starts the process of demands for product which the money is cycled back through to the economy.

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5
Q

What else did hyper-inflation affect?

A

those who;
1- had lost land under the treaty of versailles (land compensation)
2- wages towards civil servants
3- money towards those who received welfare benefits

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6
Q

When did the French occupy the Ruhr?

A

11th January 1923

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7
Q

Why did the French occupy the Ruhr?

A

to demand the years instalment after germanys request to delay paying it.

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8
Q

How much of Germanys coal and steel did the French occupy?

A

steel - 80%
coal- 71%

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9
Q

What did the government call for normal German people do to?

A

take part in passive resistance- no one should co-operate with the invaders.

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10
Q

What did civil servants, miners and others do?

A

went on strike - in which they were financed by the government

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11
Q

What was the result in passive resistance?

A

140-150 germans dead.

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12
Q

Who encouraged passive resistance?

A

Cuno

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13
Q

What were the two option for the Weimar government to deal with the countries debt?

A

1 - raise taxes, cut deficit
2 - ‘deficit financing’, borrow and print more money. this encourages inflation.

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14
Q

How did hyperinflation end?

A

Strasser employed schacht who introduced the new currency of “retenmark” - only seen as temporary
also set up new national banks called the “reichsbank”.

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15
Q

When was the Retenmark introduced?

A

15th November 1923

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16
Q

When did hyperinflation end?

A

November 1923

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17
Q

Who benefitted from hyperinflation?

A

mortgage holders
entrepreneurs
exporters
those with debt
owners of foreign exchange
property renters with longterm rents

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18
Q

Who did the hyperinflation disadvantage?

A

those with savings in banks
pensioners who lived off fixed - interest investments
those with war bonds
those on welfare benefits
civil servants
the middle class
landlords receiving fixed rents.

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19
Q

When was the Genoa Economic Conference?

A

July 1922

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20
Q

Which French government man called for the invasion of the Ruhr?

A

Poincare

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21
Q

When was the new coalition in government and who was it?

A

August 1923
Stresemann (replaces Cuno as chancellor)

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22
Q

What does GNP mean?

A

gross national product - how well a country is doing and the sales of an economy

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23
Q

What does GDP mean?

A

gross domestic product - the profit of an economy in 1 year

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24
Q

What are ‘real wages’?

A

confirmed wages when taken into account rising wages/debt.

25
Q

How long did Stresemann serve as chancellor?

A

3 months

26
Q

When did Stresemann die?

A

1929

27
Q

What was Stresemann’s first aim as chancellor?

A

to end passive resistance - he realised how much money it was costing Germany.

28
Q

When was the Dawes Plan and what did it entail?

A

1924
a way to make reparations more manageable - allowed US loans to help pay the instalments at a lower price and over a longer period of time (1 billion the first year)

29
Q

When was the Young Plan and what did it entail?

A

1929 - introduced by Stresemann
Germany only had to pay 25% of the 6.6 million over 58 years.

30
Q

When was the Locarno Pact and what did it entail?

A

1925
Germany had to accept it’s western borders with France and Belgium

31
Q

When was the League of Nations?

A

1926 was the year they joined

32
Q

When was the Kellogg Pact and what did it entail?

A

1928
war was not a viable method to end national or international disputes.

33
Q

What is reflation?

A

the policy to counteract deflation, they’re designed to stimulate economy growth to boost demand, leading to increased jobs, higher wages and rising prices.

34
Q

Strengths of the weimar economy

A

1 - heavy industry increased by 86%
2 - the Retenmark being introduced gave investors confidence
3 - production was up 33% pre war
4 - real wages increased by 5-10%
5 - exports increased by 40% (1925-1929)

35
Q

Weaknesses of the weimar economy

A

1 - higher taxes although budget deficit still employed
2 - unemployment was never below 1.3 million
3 - the agriculture sector was depressed (grain 3/4 of 1913 figure)
4 - trade deficit - exporting more than importing
5 - changing balance of population (increase unemployment)

36
Q

What year was the economic slump?

A

1926

37
Q

Strengths of Stresemann’s political leadership

A

he was more right wing so he had more support

38
Q

Weaknesses of Stresemann’s political leadership

A

Both the Nazi’s and communists were building up their party organisations

39
Q

Strengths of Germany’s culture and society

A

censorship lifted - more freedom (art, fashion, music)

40
Q

Weaknesses of Germany’s culture and society

A

many viewed the dramatic change as a moral decline.

41
Q

Why did the Wall Street Crash occur?

A

the NYC share process fell, this led to people panic selling as people worried about their investments loosing value.

42
Q

What and when was ‘Black Thursday’?

A

24th October 1929
13 million shares were sold - ($4000 million lost)

43
Q

How many major banks closed?

A

5 by 1932

44
Q

When was the Wall Street Crash?

A

28th October 1929

45
Q

What was the impact of the Wall Street Crash?

A

1 - unemployment rose to 1.4 million in 1928, to 2 million by 1930 and 6 million by 1932.
2 - agricultural prices decreased, by 1932, 18,000 farmers were bankrupt.
3 - 1930 - 1932; 50,000 businesses were bankrupt
4 - German exports fell by 55%

46
Q

Who was in the coalition?

A

SPD
DNVP
ZP
CVP
DDP

47
Q

When did the coalition collapse?

A

March 1930

48
Q

Why did the coalition collapse?

A

the coalition was unable to agree on how to deal with the Wall Street crash and the cuts to unemployment relief.

49
Q

Who led the ZP?

A

Brunning

50
Q

What did the ZP want to do about unemployment relief?

A

reduce unemployment benefits, high tax

51
Q

What did the SPD want to do about unemployment relief?

A

increase unemployment benefits - reducing them would be against their commitment to welfare reform.

52
Q

What occurred as a result of the coalition collapsing?

A

Muller resigned (March 1930)

53
Q

Why did Germany react slowly to the impact of the Wall Street Crash?

A

they feared hyperinflation again - would use it to stimulate consumer spending.

54
Q

KPD votes in elections

A

1928- 3 million
1932- 6 million

55
Q

NSDAP votes in elections

A

1928 - 3 million
1932 (Jan) - 13 million
1932 (Nov) - 12 million

56
Q

How many times was Article 48 used over a period of years?

A

1930 - 5 times
1931- 44 times
1932- 66 times

57
Q

Who were the ‘national opposition?’

A

political forces that united to campaign against weimar - included;
DNVP
NSDAP
pan-german league
SA

58
Q

Why was Brunning appointed as Mullers successor?

A

he was manoeuvred into office by political figures such as Otto Meissner (state secretary), Oskar von Hindenburg (presidents son) and general Kurt von Schleicher (army genera) recommending him to Muller.

History: Germany (4 decks)

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