Nazi economy 1933-1939 Flashcards
(25 cards)
Who was a key Nazi that helped with the German economy
Hjalmar Schacht
What was Hjalmar Schacht job role
President of the reichsbank and economics minister
When did Hjalmar Schacht become economic minister
August 1934
Who did Hjalmar Schacht tax less and provide grants for so they had more disposable income
Private groups
What did subsidies to private firms encourage
Bigger workforces
What was placed under control to control inflation
Wages and prices
When was the ‘new plan’
1934
What did the new plan consist of
Mefo bill
What happened to imports an exports in the new plan
Imports grew faster then exports, the plan was to control both and make it more balanced
Who did Germany have trade agreements with in the new plan
The Balkans and south America
What was trade paid in in the new plan
Reichsmarks
Why was trade paid in Reichsmarks in the new plan
Suppliers could only spend their money in Germany
What was a mefo bill
A credited note/ bill that then could be exchanged for cash at the bank
What happened to the mefo bills the loner you had them
4% interest per annum if they did not cash them in for 5 years
Why was the mefo bill good
Government were not paying for remilitarisation and the companies were being paid in interest on their loans to the government
What is the concept or autarky
Self sufficient with mainly food and raw materials, prepared for war as then international trade would not be effected, national pride meaning they did not have to rely on anybody anymore and to ultimately have a free Germany
How was propaganda fuelling autarky
Promoting to buy German goods, food and raw materials
What did the government conduct in 1937 to help with autarky
Collection of scrap metal from places such as homes, garden and public spaces
When was the 4 year plan introduced
1936
What did the 4 year plan state in regards to war
Germany would be war ready in 4 years
What did the 4 year plan allow control of
Labour supply, prices, raw materials and foreign exchange
What did the 4 year plan increase the production of
Iron, steel and chemicals, it also encouraged research and investment in substitute products
What was the result of the 4 year plan
It did not meet the expectations or results stated in propaganda and regime targets
In 1939 what percentage of raw materials were still imported in
33%
