Gustav Stresemann 1924-1929

?
View mindmap
  • 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.
    • 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

Comments

No comments have yet been made

Similar History resources:

See all History resources »See all The rise of Germany from 1871 resources »