Recovery Summary Flashcards
(19 cards)
Who was Streesmann and when did he become Chancellor?
Streesmann became Chancellor in 1923 and brought improvement to the state and economy.
What coalition did Streesmann lead?
He headed the Great Coalition.
When did Streesmann win the Nobel Peace Prize?
1926
What was Streesmann’s role in ending hyperinflation in the Ruhr in 1923?
He called off passive resistance, which was unpopular as it seemed like giving in to the French.
What was the Rentenmark and when was it introduced?
Introduced in 1923, it was based on mortgages of all land and was a secure, temporary currency.
How did the Rentenmark help Germany?
It restored confidence in the economy; each Rentenmark was traded for 1 trillion old marks.
What was the Reichsbank and when was it set up?
Established in 1924 to control Germany’s new currency and cement confidence in the Rentenmark.
What was the Reichsmark and when was it introduced?
The Reichsmark replaced the Rentenmark in 1924 as a permanent currency.
What did Streesmann believe about the UK and US economies?
He argued that they had much to gain from a strong German economy.
What was the Dawes Plan of 1924?
US loaned Germany 800m gold marks; reparations set at 1,000m for 5 years then 2,500m; Allies controlled Reichsbank and railways; French withdrew from the Ruhr.
What were the criticisms of the Dawes Plan?
Nationalists opposed foreign control; it relied heavily on US loans and disadvantaged the middle class.
What was the Young Plan?
Reduced reparations to £2b, to be paid over 59 years at $473m per year; only 1/3 was obligatory; France agreed to leave the Rhineland by 1930.
What were criticisms of the Young Plan?
Nationalists were upset about any reparations; Britain was still anti-German; it failed after the Wall Street Crash.
How did Streesmann improve foreign relations?
He improved Germany’s PR and was popular except among Nationalists.
What were the Locarno Agreements of 1925?
Germany accepted western borders and Rhineland demilitarisation; France agreed not to invade Ruhr again.
What was the Nationalist view of the Locarno Pact?
They felt it was an acceptance of the Treaty of Versailles.
When did Germany join the League of Nations and what was its role?
1926; Germany got a seat on the council and was accepted into the international community.
What did Nationalists think about joining the League of Nations?
They saw it as a symbol of the hated Treaty of Versailles.
What was the Kellogg-Briand Pact of 1928?
63 nations, including Germany, agreed to rule out war; boosted Weimar reputation and confidence in moderate parties.
