Proposed reducing reparation payments. Given a loan of 800 million marks. French forces would stop occupation once agreed.
1 of 6
Reactions to the Dawes Plan
Right-wing were critical because opposed to notion of reparations.
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Rentenmark
In 1923, the Rentenmark was introduced. It was based on Germany's agricultural property and industrial resources. It was successful for Luther and Schacht, although dearer money caused higher employment.
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Economic Weaknesses
Imports exceeded exports. Unemployment never fell below 1.3 million and had reached nearly 3 million in 1929.
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Farmers
By late 1920s, per capita income for farmers was 44% less than the national average. Hyperinflation relieved their debts, but faced heavy taxes on landed property after 1923. Soon back in debt.
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Social Progress
Generous pensions & sickness benefits. '27 unemployment insurance covered 17 million workers. By 1929, state spending x33 more on housing than in 1913. State provided public spaces.
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Other cards in this set
Card 2
Front
Reactions to the Dawes Plan
Back
Right-wing were critical because opposed to notion of reparations.
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