Recovery of Weimar Flashcards
Who was Gustav Stresemann?
Chancellor in 1923 Aug-Nov
Foreign Secretary 1924-29
Part of the DVP - German People’s Party
Originally opposed to the Weimar Republic but changed his mind when he realised the alternative was anarchy
What was the new currency that replaced the mark?
To solve hyperinflation, Stresemann introduced the Rentenmark which became the Reichsmark a year later. Originally it was backed by land however returned to the gold standard when it changed name
Who was the Dawes Plan made by and what did it aim to achieve?
It got its name from Charles Dawes, the head of the American committee responsible for the plan. 5 nations were represented on this committee: USA, UK, Italy, Belgium and France - each forwarding 2 experts in finance.
The end goal was to boost Germany’s economy enough for them to be able to pay back reparations which was in the best interests of all countries involved
What were the main points of the Dawes Plan?
- Reparations payments would begin at 1 billion marks for the first year and increase over 4 years to 2.5 billion marks/year. These payments were based on Germany’s capacity to pay them
- The Ruhr area was to be evacuated by the troops that had invaded it, this happened in 1925
- The Reichsbank would be reorganised under Allied supervision
- The USA would give loans to Germany to help economic recovery
When did the Dawes plan come into effect?
September 1924
How did the Young plan come around and what did it entail?
An American banker called Owen D. Young was sent to Germany to investigate the state of their economy in 1929.
He reported back saying that reparations should be reduced by three quarters and that Germany should make payments on a sliding scale annually until 1988.
Germany was now only due to pay 121 billion marks over 58 years
What was the reaction to the plan?
The plan was controversial, especially amongst right wing politicians such as Adolf Hitler and Alfred Hugenberg who criticised it. The President of the Reichsbank Hjalmar Schacht disliked it so much that he resigned from his role
Why was Germany not as economically stable as it appeared?
Farmers suffered from a worldwide depression in agriculture
The lower middle class never fully recovered from their savings being lost in hyperinflation
Germany was overreliant on American loans
What were the points of the Locarno Pact/Treaty of Locarno?
- Belgium, France, and Germany promised to respect their joint frontiers (NOT Germany’s border with Poland)
- Alsace-Lorraine was permanently given to France
- Left bank of the Rhine was demilitarised
- Threat of military action should Germany occupy the demilitarised zone (didn’t happen in the end)
- Germany was allowed to enter the League of Nations in 1926 which gave Stresemann prestige and helped negotiate the Young plan
When was the Locarno Pact signed?
October 1925 (but ultimately torn up b Hitler in 1936 when he sent his army into the Rhineland)
What was the Kellogg-Briant Pact?
Signed in 1928 by Germany and 64 other nations. It was agreed that they would keep their armies for self defence and solve all international disputes by peaceful means
BUT there was no way of enforcing this agreement
Which political parties were most popular in this period?
Moderate parties got the majority of votes because the German public was generally at ease and most crises had been resolved
They were still however unable to obtain a majority because extremist parties were still getting support
Why was there political stability between 1924-29?
- Economic recovery - Dawes+Young, restored currency, more jobs, higher wages
- Success abroad - Locarno, League of Nations
- Stresemann - Able politician, got along w/ everyone
- Hindenburg - Made President in 1925 which brought acceptance from ‘old order’. Wasn’t seen as a threat due to his old age
Why did support for the Nazi party falter during these years?
People’s outlook was bright and they had no need for extremist ideas. Hitler was also banned from speaking until 1928.
When and why was the Bamberg conference called?
On February 14th 1926 Hitler called a conference in Bamberg to resolve tension between the northern section of the party who:
Wanted SOCIALIST action
Wished to attract support from workers
and the southern section who:
Were interested in racist NATIONALIST policies
Wanted support from farmers and the middle class