Weimar Economy 1919 - 1924 Flashcards
How far had prices risen from 1918 - 1919?
Almost Double.
How far had prices risen from 1919 - 1920? How much more expensive than 1913 was this?
They quadrupled, this was 14X higher than 1913 prices.
Who dominated the Fehrenbach Coalition of 1920 and who were they supporting?
The Centre party who were supporting industrialists taking out short term loans from the bank to benefit from the inflation and expand business. (E.G - Hugo Stinnes)
What did the German government ask the Reparations Committee in 1922
Further Postponement and a 500 million mark release.
How did the French Respond to this?
They invaded the Ruhr.
Why was Cuno’s policy of Passive Resistance a bad idea?
The government now had to pay the workers’ wages.
What was the French response to the Passive Resistance?
They expelled 150,000 miners from the area. 132 Germans were killed in the occupation, along with a 7 year old boy.
What were the overall impacts of the Ruhr Crisis? What was the final cost?
- Paying Wages
- Loss of business and factories in the area
- Rise in unemployment
- Forced to import most of its coal
The final cost was two years worth of reparation payments.
What was the impact of Hyperinflation on the mark?
In July 1914, a dollar was worth 4.2 Marks, but by November 1923, a dollar was worth 4.2 Trillion marks.
