Stresemann ended the hyperinflation crisis of 1923 by introducing a new currency, the Rentenmark, which was backed by US loans to replace the now worthless mark. This suggests that the period 1924-1929 were ‘golden’ to a certain extent as they managed to stabilise the German currency. In addition, the introduction of a new currency encouraged foreign investment in the German economy as other countries could be sure that the currency was stable and therefore a worthwhile investment and also increased industries and therefore solved the vast unemployment which had been a problem within Germany for many years previous to the Weimar constitution. The increase in industry is shown through the fact that by 1929 Germany was producing 33% more produce than in 1913, thus inferring that the ‘golden years’ were a turning point for Germany. Additionally, Stresemann negotiated the Dawes Plan in 1924 which softened the blow of reparations on Germany as well as securing loans from America which proved invaluable in turning around the German
It is for these reasons that this essay will argue that the period between 1924-1930 in Weimar Germany can be appropriately termed as the Golden Years. Firstly, Germany greatly benefited from its economic recovery, fuelled in part by foreign countries. The reparations terms imposed on the country by the Treaty of Versailles had put a massive burden on an already weak German state. In 1924, these terms were agreed with the Allies. The Dawes Plan provided for an end to the Allied occupation and a staggered payment plan for reparations payment.
The years 1924-1929 were seen as the golden period for Weimar Germany both politically and economically. There were many achievements at this time such as the introduction of a new currency and the signing of treaties which many people considered to be signs of economic and political stability. To a certain extent there was stability in Germany however there were factors such as reliance on foreign loans and the change in government which arguably showed that Germany was not in a stable position after all. Political stability is when a state of peace is experienced both in and out of the country due to the activities of the government and economical stability can be shown when a country has steady and constant growth without any inflation. To a large extent Germany was very economically stable as Stresemann introduced a new currency and gained loans from the USA under the Dawes plan.
This however was supposedly solved by the intervention of the Dawes Plan of August 1924. This made the current German governments popularity grows as they had seemingly saved Germany from certain disaster. This denied Hitler and opportunity in that he could not come out and attack the government as they had been able to save Germany’s economy. However elsewhere in the country problems were beginning to remerged. An economic crisis was happening in agriculture and Industry.
• This meant they often backed his proposals – e.g. Reichsbank. • This was important for Bismarck as National Liberals had largest percentage of seats throughout the 1870s (31% in 1871) and passage of reforms was easier as a result. • With this alliance, Bismarck was in control of a great share of the conservative parties • Bis. could control the other large parties such as the Catholic Centre Party - able to pass the policy of ‘Kulturkampf’ in 1871 • This meant Bis.
Anti – democratic figures had seen the Nazi party as potential allies to provide popular support for an authoritarian regime. From this we can learn that the increase of support in which the Nazi party had gained, Hitler had also gained too. However the Nazi party were only ever capable of receiving 37% of the vote, this implicates that despite the increase in popularity, the level of support was not as significant as Hitler had hoped and therefore he could not had been elected by popular support alone. On the one hand, it must not be diminished that the Nazi party created a new outlook for most Germans. They were beginning to doubt that Germany had any pride left.
The high support of the Zollverein clearly shows that Prussia was capable of leading the German unification cause. Prussia was lucky that Metternich was busy with other European affairs and so couldn’t stop the Prussian Customs Union from growing. With this luck; Prussia had gained economic unity, became a clear national leader and provided a good example of cooperation. More evidence which suggests that the Zollverein did contribute to the cause of unification before 1848 is that it showed itself as a prime example of cooperation between the states. By 1844, because of the Zollverein, the German Confederation had gained an economic union under the leadership of Prussia and for the first time saw the states working together.
Economically and industrially Russia was also falling far behind many other Western countries at the time, like Britain and Germany. When Count Witte became Minister of Finance in 1893, there was desperate need to decrease inflation, improve infrastructure and encourage foreign investment. This essay will discuss how successful he was at introducing policies that addressed these problems. A great success for Witte was the expansion of heavy industry in Russia. He linked industrial growth with a stronger nation politically and economically, and was inspired by the more developed nations in the west.
However, in order to solve this problem once and for all, Hans Luther took decisive action and replaced the mark with the rentenmark, a new currency. Since this currency was not produced on the scale of its predecessor - supply was restricted to 3.2 billion rentenmarks - the value held much better and therefore the inflation rate was significantly curbed. As a result, economic stability was achieved for the first time in 18 months in Germany, for which Luther and Schact, not Stresemann was hugely responsible. Without a solution to the hyperinflation crisis, Germany could have
One predominant reason many backed Hitler and the Nazi’s was on the basis that they believed they could restore Germany to its former strong and internationally-dominant state. The German public liked the Nazi’s because they offered solutions to help regenerate the economy to a more stable and sustainable state (following the collapse of the economy during events such as the Wall Street Crash). Unemployment levels had plummeted from a whopping 6 million to a measly 500,000 and Hitler was offering the ‘Bread and Work’ scheme which offered those in need a chance at re-building their lives with the opportunity to make money again and obtain food. These opportunities benefitted many, therefore if they opposed the regime they would no longer get this help – and with so many in need, there were many who would not oppose their harsh ways simply because they needed the money, food, and better economy throughout Germany. Propaganda was also a large factor, which weakened the Nazi opposition.