The Golden 20s

Gustav Stresemann.

• He was chancellor of Germany (responsible for money) in 1923 (for 1 year).
• Foreign minister 1923-1929 (responsible for creating alliances in Germany).
• Helped Weimar reach a golden age.
• Arguably most important politician of his age.

Gustav Stresemann was responsible for the 'golden 20s' and achieved everything he set out to do.

By 1928, Germany was the 2nd greatest industrial power (behind USA).

However, USA withdrew the money they borrowed, eventually, causing them to return to the 1923 situation.

Hyperinflation
Policy - Marks were replaced with Rentenmarks. 1 Rentenmark = 1000 marks.
Outcome - Rentenmark accepted. hyperinflation ended. People who lost savings never got them back.

French Occupation of the Ruhr
Policy - Knew France had invaded Ruhr because Germany wasn't keeping up with reparations, made deal with America, Britain & France that they only had to pay what they could afford.
Outcome -  French left the Ruhr. In 1929, a new agreement reduced the amount Germany owed.

Germany's Poor Relationship with other Countries
Policy - Tried to improve Germany's relationship with other countries. He signed lots of peace treaties with other European countries. He joined the League of Nations.
Outcome - Germany became a major European power again, but some people say they should have asked for the land back which had been taken away in the Treaty of Versailles.

German Industry in Trouble
Policy - Got loans from America. Built factories, schools, hospitals and roads. Lead to more jobs.
Outcome - Became richer. But, money wasn't theirs, it was America's.

Changed currency from Reichmark to Rentenmark (1923)

Dawes Plan (1924)

Locarno Treaty (1925)

League of Nations (1926)

Young Plan (1929)