German Economy by 1945
- Created by: caitrmills
- Created on: 05-05-18 20:26
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- Economy by 1945
- Collapse of the American stock market had brought US loans and investment in Germany to a rapid end
- Agriculture continued to be protected by the government
- Bruning introduced austerity
- June 1932 reparations were abandoned
- 1931 Hoover agreed to a memorandum
- Withdrawals of foreign currency from German banks led to Germany's largest bank to collapse in July 1931
- Papen and Schleicher tried to introduce measures to halt the growth of unemployment
- 6 million in 1932
- Hitler didn't come to power with a concrete economic plan
- he was more interested in Wehrwischaft
- Four Year Plan - August 1936
- Goering aimed for autarky but was unsuccessful
- Developments in wartime...
- Speer established a central planning board to organise the allocation of raw materials
- armament production rose 50% in 6 months
- women conscripted into the workforce from January 1943
- increased production by using 7million foreign workers
- German economy was in ruin by the end of the war
- Speer was impeded by constant military interference and battles with other Nazi leaders like Goering and Himmler
- Speer increased production
- Schat's work made Germany look like an 'economic miracle' had occurred but its economic polices were not a complete success
- foreign currency remained low
- rearmament placed a strain on the economy
- growing deficit
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