many companies lost billions of dollars in value overnight. Many banks and businesses were ruined
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What did the crash trigger?
the great depression. A worldwide recession. Germany suffered very badly
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What did the US stop doing?
lending money to Germany and demanded all loans to be repaid. Part of Dawes plan all money lent by US to Germany could be called back at any time
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What happened to German businesses?
pay back loans, no more investment from the US, increased taxes to the government, worldwide no one had money to buy goods so markets dried up
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What happened to the German government?
couldn't borrow money from US, refused to print more money, increased taxes, cuts to unemployment benefit, government workers had wages cut and some lost their jobs
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What happened to the German people?
businesses reduced staff or closed, millions of workers and farm labourers lost their jobs, young people were baldy affected by job losses, no work and benefits slashed many suffered terrible poverty
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Who was blamed?
the weimar government was blamed for having a dependence on the US loans
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What did the great depression highlight?
the lack of strong leadership. Stresemann had died just before the crash
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Why was a coalition government bad at this point?
it was a time of crisis and in the time of crisis the different views come into play a lot more as the parties (centre party and SDP) couldn't decide what to do
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What did president Hindenburg do?
used article 48 to pass laws without the reichstag agreement. In effect Germany was no longer a democracy
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What policies were not very popular?
new economic policies were not very popular
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What parties became more popular?
extremist parties such as the Nazis and the communists as people didn't like the government and believed extreme parties would get them where they needed to be, back to stability
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Other cards in this set
Card 2
Front
What was the wall street crash?
Back
many companies lost billions of dollars in value overnight. Many banks and businesses were ruined
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