Impact Of The First World War Flashcards
1
Q
What year was German money worthless?
A
1923
2
Q
What did people use money for
A
To light fires, make paper planes, kites to fly
3
Q
Who were the biggest losers (hyperinflation)
A
People with savings in the bank - saved 1000 marks, by 1923 this wouldn’t buy a loaf of bread
Elderly people who lived on fixed pensions - income couldn’t buy what they needed
Small business - collapsed as normal trade became impossible
4
Q
Who were the biggest winners (hyperinflation)
A
People who borrowed money - easy to pay off debts
5
Q
Inflation + Ruhr
A
France what is owed money that Germany didn’t have
-> invaded to take resources - workers passively resisted
-> Government printed more money to pay workers - marks became worthless
-> inflation - more expensive
-> some benefited from it
