Flashcards in Gustav Stresemann Deck (15)
When did stresemann's government collapse?
Late November 1923
How long did stresemann continue to serve as foreign minister?
What strategy did Stresemann believe was Germany's best course of action in dealing with the allies?
What was stresemann's aims with the Dawes plan?
Germany needed to be strengthened and made secure economically, which was the case because Versailles removed its military strength
Germany needed to restore confidence in its economy
The Dawes plan was chaired by who?
The American banker Charles Dawes?
Why did America give loans to Germany?
Because if Germany did not pay the allies reparations, the allies would not be able to pay back their loans from America
What did the Dawes plan suggest?
That the French leave he Ruhr and that further sanctions would be harder to apply
Reparations would be paid over a longer period of time and credit round be advanced to help rebuild german economy. In the first five years, an international loan of 800 marks would be granted
The Reichsbank would be reorganised under allied supervision. Reparation payments were to be paid in a way that wouldn't threaten the stability of the German currency
Difficulties in passing the Dawes plan?
Many Germans disliked the plan as it still meant they would have to continue paying reparations.
What was kurt Borchardt's view on the German economy from 1924-9?
The years 1924-9 were years of slow growth and relative stagnation in the economy. He argued the main reason for this was the trade union power kept wages high. He believe the Weimar economy was structurally weak before 1929
Between 1924-9 there was monetary stability, it was particularly important to those classes that had suffered because of hyperinflation in 1923.
As a result of the retenmark and Dawes plan, there was a significant influx of foreign capital. It enabled the reconstruction of German industry.
Delay of reparation payments..
As a result of the Dawes plan, Germany were allowed to pay only 1 mil marks a year until 1929 when the rate would be increased to 2.5 mil.
As a result, national income increased and industry experienced spectacular growth rates
Labour unrest in the period 1924-9?
Number of votes won by the DVP fell from 3.9 mil in 1920 to 2.7 mil in 1928.
Vote of the centre party and DDP saw considerable drop from the election of 1919
Unemployment in 1924-9
In 1928 there were 3 million unemployed.
The collapse in food prices from 1922 led to widespread rural poverty.
Industrial unrest in 1924-9
Mid 1920s saw increased organised attack by employers on the rights of labour
In 1923 the legislation of 1928 that enforced eight hour days was altered to allow workers to institute 10 hour days in some circumstances.
Employers resisted union demands for higher wages to the extent that there were 76,000 arbitration cases from 1924-32