economic specific facts 1914-1929

Question 1

how many Nobel prizes awarded for science win between 1909-1914?

Answer 1

1/3

Question 2

what was the steel output of Germany in 1914?

Answer 2

17.6 million tons

Question 3

by 1914 how many people were covered by sickness insurance, accidents and annual pension

Answer 3

sickness- 15 million
accidents- 28 million
pension- 1 million

Question 4

on average, how much longer was the German working day compared to British?

Answer 4

2 hours

Question 5

how much did Germany’s economy shrink by during war years?

Answer 5

1/3

Question 6

how did Germany finance war?

Answer 6

through treasury bills

Question 7

what did national debt increase by in the years 1913-1919?

Answer 7

5000 million to 144,000 million

Question 8

how much did daily prices rise by averagely in 1923?

Answer 8

by 40%

Question 9

what did Schact introduce?

Answer 9

Rentenmarks backed by land and industrial resources with limited supply

Question 10

what was The Dawes Plan

Answer 10

the USA lends money to Germany which is spent on building up the German economy
Germany uses increased tax revenues to pay reparations to France
France pays back war loans to the USA and imports US goods to help rebuild France

Question 11

in short what did the Dawes Plan do?

Answer 11

scaled down reparation payments and arranged for Germany to receive American loans

Question 12

what were the Lorcano treaties?

Answer 12

Germany promised to respect the western frontier and promised to keep troops out of the Rhineland. Stresseman carefully avoided the same commitment to the Eastern fromtier

Question 13

what was the Treaty of Berlin

Answer 13

with the USSR and was a pledge of neutrality for another 5 years

Question 14

what year was the Dawes Plan

Answer 14

1924

Question 15

what year were the Lorcano treaties?

Answer 15

1925

Question 16

what year was the Treaty of Berlin?

Answer 16

1926

Question 17

what did the rentenmark do (negative)?

Answer 17

ruined companies that relied on cheap credit

Question 18

what did the rentenmark do (positive)?

Answer 18

more widely gave confidence to the currency which brought about investment

Question 19

what was the period 1924-1929 described as?

Answer 19

the ‘golden years’

Question 20

why was 1924-1929 called the ‘golden years’?

Answer 20

• unemployment never went above 1.3 million
• in 1925 there were over 3000 cartel arrangements in operation
• output of blast furnaces trebled
• growth in chemical and electrical industry
• smaller industries grew less however

Question 21

what was agriculture like in this time period (14-29)?

Answer 21

• heavily damaged in WWI due to conscription
• Turnip Winter 1916-1917
• poor harvest in 1917+1918
• due to cheap global prices, the industry struggled to rebuild itself
• in 1919 20% of cultivated land belonged to 1% of landowners
• farming became less profitable

Question 22

despite promising signs of economic recovery, Germany had various weaknesses:

Answer 22

• reliant on foreign credit
• economic growth was not universal
• economic growth was not impressive in terms of the rest of the world

Question 23

1929 GDP was how much higher than 1913?

Answer 23

12%

Question 24

winter of 1928-1929 unemployed increased to ……?

Answer 24

over 2 million

Question 25

what was the budget deficit by the end of 1929?

Answer 25

17000 million Marks

Question 26

what was the currency's value worth by 1919?

Answer 26

worth less than 20% of its pre-war value

Question 27

what did Germany need money for post WWI?

Answer 27

rebuild industry, re-start trade, maintain pay for civil servants, meet the post-ear demands for pensions and welfare benefits and pay compensation to those who had lost land under the ToV

Question 28

unemployment rate in 1921 compared to GB

Answer 28

1.8% in Germany compared to 17% in GB

Question 29

what was a 'patriotic duty' which right-wing elites did?

Answer 29

to avoid taxes and to speculate against the Mark as a means of showing their objection to the 'unreasonable' Allied demands

Question 30

when did Germany pay its first reparation instalment?

Answer 30

May 1921 of £50 million

Question 31

when had Germany began to fall behind on reparation payments?

Answer 31

January 1923

Question 32

how did Chancellor Cuno respond to invasion of the Ruhr?

Answer 32

ordering a policy of 'passive resistance'

Question 33

how did the Ruhr occupation worsen the country's economic situation?

Answer 33

- paying the wages or providing goods for striking workers was a further drain on government's money - tax revenue was lost from those whos businesses ceased - Germany had to import coal and apay for it from the limited foreign currency reserves - shortages of goods pushed prices up further - international confidence in the value of the Mark dropped

Question 34

how many printers printed out money day and night?

Answer 34

2000

Question 35

what was the value of one rentenmark in exchange for marks?

Answer 35

1 rentenmark was valued at 1 trillion old marks

Question 36

how many businesses became bankrupt in 1924?

Answer 36

6000

Question 37

what was industrial production at in 1919?

Answer 37

a third of what it had been in 1913

Question 38

what did Germany's economy grow by from 1913 to 1929 compared to the US's?

Answer 38

Germany=4% USA=70%

Question 39

what does it mean to say that Germany was living beyond its means.....

Answer 39

the welfare state developments overstrained resources and the pensions burden made huge demands on state finance. The lack of capital prevented the government from injecting funds into industry to boost it

Question 40

what was the overall cost of the war

Answer 40

$38