Gustav Stresemann 1924-1929
- Created by: Bonnie Fowler
- Created on: 12-05-13 14:14
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- Stresemann 1924-1929
- Called off passive resistance in the Ruhr
- Passive resistance had led to hyperinflation as the government paid the workers to not to work by printing money out.
- Knew it was risky to call it off as the right would attack him
- Introduced new currency to replace the worthless one. Now called the Reichsmark.
- Faced threats from the Left. In Saxony the Army overthrew them.
- Foreign Policy
- Dawes Plan 1924 - received loans form USA to start paying reparations
- Foreign Policy meant Germany were dependent on these loans.
- Locarno Pact 1925 - Allowed to join the LON and agreed borders with France
- Young Plan 1929 - Reparations lowered by more than 2/3rds.
- Dawes Plan 1924 - received loans form USA to start paying reparations
- Unemployment Insurance Act 1927. Workers contribute towards unemployed
- heavily dependent on foreign investment
- Employers believed that TU's had too much power and so wages were too high. Employers tried to reduce their workforce by getting machinery to do their jobs.
- Strikes and lockouts were frequent
- Public spending was higher than the income from taxation. Meaning a budget deficit.
- Deficit was covered by high borrowing but this was risky as they could be recalled
- Called off passive resistance in the Ruhr
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