Germany Golden Age, 1924-1929 Flashcards
(16 cards)
What were Streseman’s 3 aims?
End Passive Resistance, Issue a new currency, Balance the Budget.
What did Streseman set up in 1923 to deal with the reparations issue?
The Reparations Committee. It was headed by Charles Dawes, an American banker.
When was the Dawes Plan introduced?
1924
What did the Dawes Plan involve?
A temporary reduction in annual reparations to 50 million. US banks and businesses offered loans to German industries and businesses. German state bank supervised by the Allies. French + Belgian troops to evacuate the Ruhr.
How much were the loans America gave to Germany in the Dawes Plan?
800 million marks.
What were the positive impacts of the Dawes Plan?
France left the Ruhr. Economic rebirth from loans. Increased morale in Germany. Decrease in political extremism.
What were the negative impacts of the Dawes Plan?
German economy relied entirely on American loans. They were under the microscope of the Allies. The reduction was temporary and could go back up.
What was rationalisation?
Making industry more effective.
What was cartelisation?
Merging large firms into giant cartels to increase profits.
What was positive about cartels?
They had fixed prices, protected profits, reduced competition and allowed profits to be reinvested. They helped the economy to flow again.
How many houses were built in 1925?
178,930 - Around 180,000.
How much did real wages increase by in 1927, then 1928?
1927: 9%
1928: 12%
What were the limitations of the ‘Golden Age’?
Unemployment was still high, the economic improvements didn’t benefit everyone. Managers and white collar workers didn’t benefit.
How many people were unemployed in March 1926?
3 million
In Dec 1924, what percentage of the vote was pro-Republican?
67%
Name 1 Party that overtook the Nazi party in the 1928 election.
Bavarian People’s Party
