Summary 3 - Stabilising the German economy Flashcards

1
Q

What did Stresemann do regarding passive resistance?

A

He ended passive resistance, the government stopped paying striking workers as they did not have the funds to continue to do so.

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2
Q

What was the consequence of ending passive resistance in the Ruhr?

A

It led to serious unrest such as the Munich Putsch.

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3
Q

Stresemann replaced the old worthless currency with which temporary new currency?

A

The Rentenmark
It was backed by the value of German industrial and agricultural land.

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4
Q

How did Stresemann ensure that inflation remained low after he introduced the temporary Rentenmark?

A

He stopped the printing of money, thus controlling the volume of money in circulation.

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5
Q

After the introduction of the Rentenmark, how long did it take for the currency to stabilise?

A

9 months
The old marks were cashed in for the temporary Rentenmark.

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6
Q

What was the name of the new currency introduced by Stresemann?

A

The Reichsmark

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7
Q

What was the Reichsmark backed by?

A

The Reichsmark was backed by the German gold reserve.

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8
Q

The German gold reserve had to be maintained at what percentage of the value of the Reichsmarks in circulation?

A

30%

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9
Q

What did Stresemann do regarding government spending and the rate of taxation?

A

Cut government expenditure
Raised taxes

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10
Q

Stresemann cut the salaries of public sector workers. How many civil servants lost their jobs?

A

300,000

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11
Q

The government agreed to compensate those who had lost all their investments in war bonds at what percent of their original value?

A

12.5%

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12
Q

Debts were reassessed at what % of their former value?

A

15%

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13
Q

There was resentment towards the Weimar Republic from which class?

A

The middle class, who lost the majority of the money that they had invested in war bonds.

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