NAZI GERMANY UNIT 1 PART 2 (Resolving the HYPERINFLATION (August 1923:…
NAZI GERMANY UNIT 1 PART 2
FRENCH OCCUPATION OF RUHR
December 1922- Germany failed to send coal to France from the Ruhr coalfields as said under reparations agreement.
So French troops sent into German industrial area of Ruhr in. JANUARY 1923.
CONFISCATED raw goods and machinery and materials.
THIS event crippled Germany and around 80% of German reserves.
Prices of everything went up
so government printed more money which made inflation worse--------- hyperinflation
1923: 200,000 billion marks for a loaf of bread
Normal living became impossible
Foreign suppliers refused to trade so imports dried up
Savings became worthless
Resolving the HYPERINFLATION
August 1923: streseman new chancellor
SMan set up new currency RENTENMARK. Renamed REICHSMARK
Dawes plan,1924: reparations temporarily reduced to 50 million per year.
US banks would give loans to Germany. They loaned 25 billion between 1924 and 1930
Young plan, 1929: reduced reparation debt to 2 billion from 6.6. Germany given 59 more years to pay
Locarno pact, 1925: Rhineland demilitarised, 5 powers agreed to open talks about German membership of League of Nations
League of Nations, Germany became a member
Kellog Briand pact: AUGUST 1928. No war to achieve policy aims
**Changes in society
UNEMPLOYMENT ACT OF 1927 provided sick pay and unemployment pay.
wages and work conditions improved.
wages rose by 25% from 1925 to 1928
BY 1929, PRIVATE COMPANIES BOUGHT 27,000 NEW HOMES.
Education greatly improved.
CHANGES FOR WOMEN
November. 1918, women gained the right to vote and stand for elections
BY 1932, 112 WOMEN HAD BEEN ELECTED IN THE REICHSTAG.
article 109 stated women had equal rights.
By 1918, 75% woman were in work
however women still not treated equally in work place.
NEW WOMEN who were more promiscous.
CHANGES IN CULTURE IN WEIMAR
old kaiser regime thrown off
New constitution wanted freedoms
economic recovery after 1924 created wealth to finance the arts
Left wing thought money was being wasted and right wing said changes undermined traditional German culture.