Policies For Recovery, 1924-28

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  • Created by: bungee100
  • Created on: 01-06-17 12:20
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  • Policies For Recovery , 1924-28
    • Making Money Work
      • Mark withdrawn and replaced with Rentenmark in October 1923
      • Savings lost value as Rentenmarks value was so low
      • Emergancy Money was banned
      • Used Emergancy decrees to control rents, wages and prices
      • August 1924, Reichsmark became official German currency.
    • Foreign Policy
      • Dawes (1924) and Young (1929) Plan made reparations more manageable and provided loans to rebuild the economy.
      • Became a foreign power again meaning foreing countries were happier to lend to Germany
      • Were taking loans from USA to provide stable recovery, however USA could recall loans at any time.
    • The Recovery Of Business
      • Government Helped businesses to make changes, making them more profitable
      • Formed Cartels which fixed prices to stabilise the economy.
      • Factories rebuilt with mass-production assembly lines.
      • Significant levels of dispute between owners and workers
      • strikes and lockouts over better conditions and owners trying to cut wages and extend working hours.
    • Trade Recovery
      • Countries Introduced Tariffs on foreign goods
      • Producing steel and chemicals that other countries needed
      • Germanys admission to the league of nations meant exports were at 10 Billion marks by 1926.
    • Agriculture
      • A quarter of all workers were farmers.
      • Big Farms could invest in new machinery and farming techniques.
      • wealthy landowners had political influence and could block farming reforms
    • Government Spending
      • Spent heavily on social welfare, providing housing and benefits for the poor.
      • Borrowed money and taxed
      • in 1913 the lowest tax band was made up by 47% of taxpayers
      • Had to borrow the money it didnt make through tax

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