Weimar Republic
- Created by: sarahrtx
- Created on: 02-05-15 10:06
View mindmap
- Weimar Repbulic
- HyperInflation
- If Germany had paid the reparations (£6.6 billion) they would have paying it off till 1987.
- The first instalment of reparations was in 1921 and cost £2 billion Gold Marks
- The majority of these reparations were paid in coal, iron and wood
- In 1922 Germany couldn't pay their second instalment - The allies didn't believe this
- Because of the lack of conformity, France and Belgium invaded the Ruhr in 1923
- French and Belgian troops took over the iron and steel factories
- This action was a violation of the Treaty of Versailles. France has disregarded her own Treaty.
- Germany told his workers to go on strike and not confront the French and Belgian armies. This lead to the death of 132 Germans and 150,000 being expelled from their homes.
- This had bad consequences for Germany because the Ruhr was the strongest economy in Germany
- Because of the lack of conformity, France and Belgium invaded the Ruhr in 1923
- The first instalment of reparations was in 1921 and cost £2 billion Gold Marks
- In 1922 a loaf bread cost 163 marks
- In September 1923 it had risen to 1.5 million marks
- By November 1923 it had again risen to 200 billion marks
- In September 1923 it had risen to 1.5 million marks
- People were paid by the hour and rushed get it to their families so they could buy items before the money was worthless.
- People shopped with wheelbarrows full of money.
- Battering became common again
- Pensioners on fixed incomes went into poverty.
- Restaurants didn't print menus because the price of the food was constantly changing.
- The people who suffered the most were the middle classes because they lost all their savings and had no land to fall back on. This is one of the reasons they turned to Hitler.
- If Germany had paid the reparations (£6.6 billion) they would have paying it off till 1987.
- Economic Miracle
- Gustav Stresseman took over as Chancellor in September 1923
- The currency was changed to a Rentenmark.
- The Rentenmark was backed with American Gold
- Stresseman called off passive resistance in the Ruhr and made the workers abstain from their strike.
- In 1924 the Dawes Plan was announced.
- This set up reasonable payment increments for Germany.
- Eg. In 1924 the payment was 50 million marks as opposed to the 2 billion of 1924
- America loaned Germany $200 million
- This set up reasonable payment increments for Germany.
- The Young Plan was a system where by Germany received loans from America, then paid them to France. France would then pay war debts to America.
- Germany invested 25 million gold marks in renovations.
- Germany began to return to normal. Stresseman got rid of hyperinflation
- HyperInflation
Comments
No comments have yet been made