Economic Recovery 1924-29

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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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