Economic Recovery 1924-29
- Created by: Alice Edwards-King
- Created on: 29-04-15 20:46
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- Economic Recovery 1924-1929
- A new currency was introduced, the Rentenmark.
- Stresemann cut government spending by reducing staff salaries, sacking 300,000 employees and increasing taxes.
- Stresemann was the Chancellor of Germany in August 1923.
- Passive resistance was ended in the Ruhr.
- The Dawes Plan 1924
- America decided to help Germany with their economic situation.
- Dawes reduced the amount of payments between 1924 and 1928 to help Germany recover.
- If they had a good year, they would pay a large amount.
- Arranged a loan of 800,000,000 marks to Germany.
- The Young Plan 1929
- Plan was put forward by Owen Young, an American banker.
- Total reparations bill reduced by 67% and were allowed to pay back different amounts according to their ability to pay.
- Final deadline extended to 1988.
- The Locarno Treaties 1925
- Stresemann proposed a treaty that said France and Germany should respect the Rhineland and pledge to never go to war again.
- Germany came out as a peace-loving nation who had learnt their lesson.
- Britain and France were impressed, removed troops from the Rhineland.
- Treaty signed 1925 in Locarno, Switzerland.
- League of Nations 1926
- Germany invited to join League of Nations.
- Germany regained status as an important European country.
- Stresemann awarded a Nobel Peace Prize for getting Germany in the League of Nations.
- The Kellogg-Briand Pact 1928
- The pact came in force in 1929.
- 62 nations signed the pact, including Germany.
- The American Secretary of State and the French Foreign Minister put forward an idea that countries should sign a pact agreeing never to go to war again.
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