Reacting to economic challenges

Question 1

how much did germany borrow in ww1

Answer 1

1914-18 borrowed 150 billion

Question 2

how much did the goverment raise in taxes

Answer 2

M7 bill - M8 bill in taxes, wasnt enough to repay debt

Question 3

how did war debt lead to rising prices

Answer 3

-war debt led to inflation
-prices rose by 200% in 1914-18

Question 4

what amount was reparations set as after ww1

Answer 4

inter allied reparations commission in 1921 set the figure of 6.6 mill, germany allowed to pay it back in coal

Question 5

by how much did coal production decrease and how much iron did they lose after ww1

Answer 5

decreased by over 15%, lost almost half of iron ore deposits

Question 6

how many left the army in 1919

Answer 6

6 mill, women workers sacked

Question 7

how many unemployed in feb 1919

Answer 7

1.1 mill, 7% of the workforce

Question 8

how many unemployed by 1922

Answer 8

12,000

Question 9

how much was value of wages after ww1 in 1919

Answer 9

less than half of 1913

Question 10

how many troops were sent to the ruhr

Answer 10

60,000

Question 11

what was the exchange rate of marks against the dollar in 1923

Answer 11

jul 1914 - 4.2
nov 1923 - 200,000 mill

Question 12

how did government satify demand for note money

Answer 12

-used 30 paper mills
-130 print firms
-used newspaper printing presses

Question 13

what were the dominations of notes in 1922-23

Answer 13

jan 1922 - highest bank note was 10,000
jan 1923 - issuing 100,000 bank notes
jul 1923 - 10 mill mark bank notes
nov 1923 - 1 trillion mark notes

Question 14

how much did coffee price rise

Answer 14

rose from M5000 at 11am to M8000 by noon

Question 15

how much did price of bread rise

Answer 15

3 january - 163 marks
19 november - 233 bill marks

Question 16

what was the policy of fulfilment

Answer 16

-stresemann said to meet french terms
-ruhr led to international sympathy, negotiated better deal
-agreed that occupation would end in 1925

Question 17

how did stresemann reduce inflation

Answer 17

-policy of fulfilment
-decreased pay of civil servants by over 50%
-reduced benefits
-worked with economist Schacht to introduce the Rentenmark in oct 1923, was the same value as 1913 gold mark
-mortaged industrial/agricultural land to value of RM3.2 billion

Question 18

how much did Dawes plan let them borrow

Answer 18

800 mill gold marks to aid recovery provided by US business leaders

Question 19

how much did they recieve overall between 1924-28 as part of dawes plan

Answer 19

M16,000 mill loans, only paid M7000mill of that for reparations so the extras went to improving industry

Question 20

how much did production increase in 1923-28

Answer 20

doubled, wages rose every year

Question 21

what happened to GDP in 1928

Answer 21

recovered to 1913 levels

Question 22

who was benjamin strong

Answer 22

US federal reserve chairman demanded renegotiation of reparations in 1928 as didnt want them to affect US investments

Question 23

what did young plan agree to

Answer 23

-extend period of reparations to 1988
-reduced reparation total to 1850 mill (1/4 of amount agreed in 1921)

Question 24

what happened to trade due to dawes plan

Answer 24

-troubles exporting to britain and US as US put tariffs and britain only traded with their empire
-led to balance in trade crisis
1924 -RM1848 mill
1926 RM817 mill
1928 -RM1224 mill

Question 25

what happened to farm production in 1920s

Answer 25

-stagnate -1913 produced 30 mill tonnes of wheat/cereals but then in 1920s dropped below 20 tonnes

Question 26

what happened to unemployment in 1929

Answer 26

rose from 1.2 mill in 1928 to 1.9 mill in 1929 (before wall street)

Question 27

what did stresemann say about the german economy

Answer 27

was "dancing on the edge of a volcano"

Question 28

what happened to trade in the depression

Answer 28

fell by 55%

Question 29

how many banks collapsed in depression

Answer 29

5 major banks

Question 30

by how much did production fall in depression

Answer 30

shrank by 40% in 1929-32

Question 31

how many firms closed in 1929-32

Answer 31

50,000

Question 32

how much did prices decline in depression

Answer 32

decline in domestic demand for food and poor exports caused prices of food to decline by 45%

Question 33

how much was unemployment in 1932

Answer 33

5.8 mill, 1/3 of workforce

Question 34

what did bruning do to help depression

Answer 34

public work schemes - schleicher made emergency fund of RM 500 mill to employ ppl hoover moratorium june 1931 suspended reparations raised tax and cut spending - cut welfare payments lausanne conference - abolished reparations

Question 35

by how much did bruning cut wages of civil servants

Answer 35

by 20%

Question 36

how much did weekly wages for working class increase by

Answer 36

1932 was 30% higher than 1924

Question 37

by how much was housing spending higher in 1925 than 1913

Answer 37

20x higher

Question 38

by how much was welfare higher in 1929 to 1913

Answer 38

60% higher

Question 39

what was standard of living for lower middle class in early 1924

Answer 39

was 25% lower than 1913

Question 40

by how much did income of established middle class drop by

Answer 40

dropped 60%

Question 41

when were farmers hit by cheap imports

Answer 41

1924

Question 42

by how much did price of agricultural goods drop by in 1927-30

Answer 42

dropped by 25%