The Recovery Of The Weimar Republic 1924-29 Flashcards
Who was the main man responsible for Germaine’s economic recovery ?
Gustav Stesseman
What was the Dawes plan ? When was it instated ?
Agreed in August 1924
Aimed to change the payment plan to Britain, France and the US
Stressemann had realized they could not pay it how they had been
When was the Dawes plan and what where four features of it ?
August 1924
- reparations began at 1 billion marks for the first year and would increase 2.5 billion each year(far more sensible and based on Germanic’s capacity to pay)
- the Ruhr was to be evacuated by allied forces (1925)
- German Reichsbank reorganized under allied supervision
- USA would give loans to Germany to help it recover
How much did the US loan to Germany and how did US loans help ?
Gave 800 million Marks
Over next 6 years multiple US banks gave loans of nearly $3,000 million overall
Helped Germany economically and to meet reparation payments
Who was the Dawes plan named after and why was this a fitting name ?
US vice president Charles Dawes who had a leading roll in setting up the plan
When was the Rentenmark introduced and by who? Give some info on it such as what it was based on and what it aimed to do
Introduced in 1923 as a temporary currency to help solve the previous hyperinflation
- As £1 was equal to 1.6808x10 to the power of 15 marks
- installed by stressmann
- based on property value rather than gold and gradually restored the German people’s confidence
- in November 1923 it’s replaced by the Reichsmark based on gold reserve
What caused the Young Plan ?
- Germany complained about the levels of payments which lead to US bank Owner Owen Young to come up with a plan
What did the Young plan aim to do ?
- 1929, reparation figure reduced from 6,600 to 1,850 million and the length of time was extended to 59 years with an average payment of 2.05 billion marks per year
Why was the Young Plan criticized in Germany and by who
- criticized as many Right Wing politicians objected to any further payment of reparations
When is the young plan when is the Dawes plan ?
Dawes 24 young 29
