Stresemann "The Golden Years"

Stresemann "The Golden Years"

1. Successes

   • The Dawes Plan (1924)
     • Reduces repearations
     • Sensibly stages payments
     • French withdrew from the Ruhr
     • 8 million mark loan from USA
       • Helped German industry and reparation payments
   • The Young Plan (1929)
     • Timescale of 59 years for repayments
     • Responsibility for repayments given to Germany
     • French evacuate the Rhineland by June 1930 (5 years ahead)
   • More stable government
   • Stresemann was a popular leader
   • Little support for extremist parties
   • Hindenburg was made president and promised to maintain the constitution
   • Rentenmark (1923)
     • issued in limited numbers
     • based on agricultural/industrial morgage
     • Could be exchanged for land or industry as opposed to gold
     • was converted into the Reichsmark in 1924
       • Backed by gold
   • World wide relations
     • Stresemann ended passive resistance in the Ruhr
       • French = XD
     • Signed Locarno Treaties 1925
       • Guaranteed Germany's frontiers with France, Belguim and Italy
     • League of Nations
     • Kellogg-Briand pact
       • Solve conflicts by peaceful means
         • Armies for self defence
         • Assisted German economy

2. Failures

   • German nationalists opposed the Dawes Plan
   • Nationalists hated the Young plan/further payments
   • Constitutional issues remained
   • Extremists were determined to overthrow Weimar
   • Hindenburg disliked the new republic
   • German recovery was too dependant on US loans
     • Unemployment remained