Ruhr and hyperinflation Flashcards
What happened in 1923 and why?
The Ruhr crisis
G paid 1st instalment of r but in 1922-nothing
F and Belgian troops invaded industrial area called Ruhr,take what was owed to em in form of raw materials and goods
What did the German government order the Germans to do?
What happened as a result of this to the Germans and economic consequences?
passive resistance/workers go on strike-nothing 4 F & B troops to take.
F killed 100 workers and expelled 100,000 protestors from region
disruption to Gs industrial output caused G currency to collapse
What did the government do to solve the economic disruption? How did this impact workers? fixed income pensioners? rich?
printed out more money ,so much became worthless.led to hyperinflation
workers collected wages in wheelbarrows paid daily -as prices of goods constantly going up,ppl spent £ as soon as they got it.
rich-savings in bank wud buy em house in 1921-can’t even buy loaf of bread with it.
pensioners-pension payment lasted month cudnt even buy cup of coffee.
Who was the man that solved the economic crisis?
How did he do it?
Gustav Stresemann.
called off passive resistance in R
replaced old money with Rentenmark
negotiated Dawes Plan and Young Plan -enabled G to get A loans renegotiated reparations payment
Who was the leader after Kaiser Wilhelm 2nd?
In what ways was the Weimar Government different?
Friedrich Ebert
G ppl given freedom of speech,worship and offered better working conditions = introduced democratic system.
