Economic developments in the Golden Age of Weimar

Aug. 1923
Cuno govt. collapsed @ height of hyperinfll +replaced by Stresemann coalition
1 of 33
Sept. 1923
Chancellor Gustav Stresemann calls off passive resistance in Ruhr, ↓ govt. spending
2 of 33
Nov. 1923
Stresemann asked the Reparations Commitee to set up board to address Ger/ repayment concerns
3 of 33
Dec. 1923
New Rentenmark currency issued to replace worthless Reichsmark
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April 1924
Dawes Plan introduced to ease reparation payments
5 of 33
June 1929
Young Plan introduced to reorganise reparation payments
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Oct. 1929
Wall Street Crash → collapsed Ger. economy + mass unemployment
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What were cartels?
Groups of companies in the same industries that combined to fix prices + protect profits
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Who was Hjlmar Schact?
Reich Currency Comissioner, 1923-30
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Name one benefit of cartels.
Allowed more reinvestment of profits
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Name one drawback of cartels.
↑ competition
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How many cartels were there by 1925?
3000
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What are tariffs?
Duties/taxes that have to be paid on goods entering a country - makes foreign goods more expensive than native.
13 of 33
What percentage of Germany's coal and steel production were part of cartels?
90%
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What parties were part of the Great Coalition?
SPD, DDP, DVP, Centre
15 of 33
Why did the USA especially want Germany to restart paying reparations?
B/c much of the money given to Fr. was passed onto USA to help repay loans
16 of 33
Give one term of the Dawes Plan
Reparations amount should be reduced until 1929
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How did Stresemann refer to the Dawes Plan in private?
An "economic armistice"
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Which political party was the main attacker of the Dawes Plan?
DNVP
19 of 33
Why did the DNVP and other groups attack the Dawes Plan?
B/c they believed Germany should defy ToV and refuse to pay reparations
20 of 33
Give one benefit of the Dawes Plan.
The loans granted were used to pay for new factories, house etc- German economy rebuilt
21 of 33
How did the Dawes Plan affect German industry?
Industrial output grew post-1924, but didn't reach 1913 levels until 1929
22 of 33
How may more homes were built in 1925 than in the previous year?
70,000+
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What was one of the reasons why the number of strikes in German industry fell during the Golden Age?
New system of compulsory arbitration
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What was compulsory arbitration?
Compulsory use of an independent figure to solve disputes
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Why did employers dislike the system of compulsory arbitration?
Felt it was biased in favour of unions, resented state interference
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What number of Germans were unemployed by March 1926?
3 million+
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Why did the Mittelstand gain little from the "economic recovery"?
Many were still bankrupted from 1923 hyperinflation
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Why did farmers not benefit from the "economic recovery"?
Worldwide agricultural depression kept food prices low - many farmers unable to profit from land
29 of 33
Give one term of the Young Plan
Reparation bill reduced to £1.8 billion, but annual payments increased
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Who headed the national campaign against the Young Plan?
Alfred Hugenberg of the DNVP
31 of 33
Explain the "freedom law" that Hugenberg wanted to enact
Required govt. to reject war guilt clause, demand immediate evacuation of occupied areas, and try any minister supportive of war guilt for treason
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What percentage of the electorate voted for the freedom law?
13.8%
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Other cards in this set

Card 2

Front

Chancellor Gustav Stresemann calls off passive resistance in Ruhr, ↓ govt. spending

Back

Sept. 1923

Card 3

Front

Stresemann asked the Reparations Commitee to set up board to address Ger/ repayment concerns

Back

Preview of the back of card 3

Card 4

Front

New Rentenmark currency issued to replace worthless Reichsmark

Back

Preview of the back of card 4

Card 5

Front

Dawes Plan introduced to ease reparation payments

Back

Preview of the back of card 5
View more cards

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