Weimar Economy 1918 - 1923
- Created by: TDHChicken
- Created on: 22-11-16 14:33
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- Weimar Economy 1918-1923
- WWI
- Spent all gold reserves
- June 1914 - 6300 million marks
- Dec 1918 - 33000 million marks
- End of war - 150 Printing firms with 2000 printing presses running day and night
- Farm production dropped 20%
- Industrial output almost halved
- Made worse by Treaty of Versailles and loss of land
- Made worse by Treaty of Versailles and loss of land
- Industrial output almost halved
- 1918 - Govt owned 150 billion marks
- Three times that of 1914
- Industrial output almost halved
- Most horses and food were sent to the front line
- K-brot bread made from potatoes, oats and straw were used
- In one district in Berlin, 90% of all children aged 2-6 were malnourished
- Social Welfare
- Schemes to help soldiers
- Loans
- Retraining
- Being looked after by Government
- 1920
- 1537000 disabled veterans
- 1945000 non-disabled veterans
- 1924
- 10% of the population were receiving federal welfare payments
- WWI
- 768000 disabled veterans
- 420000 widows
- 190000 parents of war dead
- 1020000 children of veterans
- 1920
- All payments were paid for by Government loans which mean they were getting deeper in debt
- Social Legislation
- May 1920 - Reich Pension Law regulates pensions
- Pensions for widows / parents of dead soldiers based on their job before the war, not their rank during it
- Feb 1922 - Labour Exchange Law set up Govt offices to provide training and help to unemployed
- "People have the right to work"
- May 1920 - Reich Pension Law regulates pensions
- Schemes to help soldiers
- Debts and Reparations
- Government at first tried to meet payments
- Tried to renegotiate terms from 1921
- Until 1924, payments were made in coal, wood and railway carriages for example
- The Ruhr Crisis
- See Ruhr Crisis Notes
- Hyper-inflation
- 1 May 1922 - Newspaper 1 Mark
- 1 September 1932 - 100000 Marks
- 17 November 1923 - 700 Billion Marks
- 1 September 1932 - 100000 Marks
- Those with goods to sell on the black market made a large profit.
- 750000 Federal and Regional Government jobs cut
- Towns and Regions began to create there own "Notgeld" / "Emergency Money"
- Those on fixed payments from Government lost out as they lost value
- Head of the Von Lingans family had to sack the staff, close the house, move to Berlin and take up an office job in a factory
- 1 May 1922 - Newspaper 1 Mark
- Living Standards
- Due to Weimar policies, after the war the standard of living increased
- Wages and employment rose
- When hyper-inflation stuck, it fell again
- Women would take on work such as covering metal buttons with fabric
- They would get paid by the 50, not by the hour
- They would normally have to work all day and sometimes all night just to earn any amount of money
- In 1918, the Govt introduced the 8-hour working day
- When hyper-inflation struck, this went out the window
- Workers and employers were happy to extend hours
- When hyper-inflation struck, this went out the window
- Due to Weimar policies, after the war the standard of living increased
- WWI
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