Weimar Constitution - Chapter 2 - Extent of Change in Foreign and Economic Policy Flashcards
When does Stressemann become chancellor?
August 1923
When is the Treaty of Berlin with USSR?
April 1926
When is the Dawes Plan established?
April 1924
When is Young Plan established?
June 1929
When does Stressemann die?
October 1929
Why is Weimar Republic about to collapse in the summer of 1923?
Hyperinflation - money is worthless, extremist threats, government lacked clear policy with troops in Ruhr
How many days was Stressemann chancellor for?
100 days
What did Stressemann do in Ruhr?
Ended passive resistance and began to pay reparations again
Why did Stressemann cut government spending?
To help reduce deficit, 700,000 public employees lost their jobs
When was the retenmark introduced?
December 1923
How did the retenmark come about?
Schacht (financier and economist) helped, old currency withdrawn
What did sympathy from Allies from policies achieve for Germany?
Persuaded Allies to hold International conference, led to Dawes Committee and Dawes Plan (April 1924)
How did retenmark begin to bring back financial stability?
Compensated those who had their savings destroyed by inflation
How much money did overseas investment and industrial recovery bring?
25.5 billion marks
How much did exports rise by and what did this bring?
Grew by 40 percent , increases in wages
What social improvements were brought about by Stressemann’s time as chancellor?
War pensions for widows, unemployment insurance law covered 17 million people, 2 million houses built
Arguments against economic recovery during Stressemann’s time as chancellor?
Increased cost of exports, by 1929 1/2 of farmers failing to make profit and supported Nazis, unemployment 2 million by Jan 1929
What did the Dawes Plan enable?
Reparations instalments over first 5 years calculated according to Germany’s ability to pay
Advatages of Dawes Plan?
France promised to evacuate Ruhr in 1925, Germany gained money for economy through loans, international communities recognised Germany’s poor state
How did Dawes Plan help International Relations?
Payments to France helped relations, tied Germany close to USA fortunes
What did extremists think of Dawes Plan?
Humiliating, wanted no reparations, demeaning for a once great power
What was Young Plan?
New payment scheme under Owen Young, 132 billion to 37 billion, payments now spread out over 58 years, foreign control over Germany in Dawes Plan ended
Opposition to Young Plan
Election of Hindenburg - not fully supportive of Weimar
national committee (Hugenburg) fought plan - owned over 150 newspapers, joined by Nazis
How many votes did opposition to Young Plan get?
5.8 million (needed 21)
