Weimar Economy 1924 - 29

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iGCSE History (Germany 1919 - 1945) Flashcards on Weimar Economy 1924 - 29, created by Drew Bott on 26/10/2019.
Drew Bott
Flashcards by Drew Bott, updated more than 1 year ago
Drew Bott
Created by Drew Bott almost 5 years ago
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Question Answer
Who is considered to be the reason the Republic survived the crisis of 1923? Gustav Stresemann Chancellor then Foreign Minister
Why was Stresemann 'important' to the Weimar 'recovery'? He was a skilful politician. He provided continuity - he was in every government between 24 & 29. As a 'right winger' he had widespread support
What were Stresemann's first actions that helped improve the economy? He called off passive resistance / promised to pay reparations / introduced a new more stable currency / negotiated a load with the USA (Dawes Plan)
Why was the Dawes Plan important to Germany? It was a recognition that Germany needed 'support' / It provide for loans of 800 million marks / A Reparation payment plan was created / helped 'kick-start the economy
What was the name of the new currency? The Rentenmark
What work schemes did Stresemann introduce that provided employment? Housing projects (200,000 homes built) road building, schools & other public buildings
What indicators were there that the economy was improving? In 1923 output exceed 1913 and by 1929 industrial output had doubled (Economy was growing) + Wages were rising (Indicating greater wealth) = more government income in taxation
What did 'critics' of the economic recovery say? The economic recovery was FRAGILE
What were the main concerns about the economic recovery? It was based on foreign loans (which still had to be paid back) The loans were 'short term' - they could be withdrawn at any point (No certainty) Unemployment remained constantly over 1 million Farmers' earning were falling fast (by 50% by 1929) / There was still an annual deficit in the balance of trade. (They bought more than they sold)
What 'law' was introduced in 1927 that workers supported? National Unemployment Insurance - a scheme to support the unemployed
What potntial problem was there with the National Unemployment Insurance Scheme? It would not be affordable if there was 'mass unemployment' (as there was after 1929)
Did unemployment figures indicate the economy was improving? Unemployment was still very high with two million people unemployed in 1926. 1.3 million were still unemployed in 1928. So ‘not really’
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