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1923-29: Stresemann's Strategy | GCSE History Revision | Weimar & Nazi Germany

It's 1923, hyperinflation is rampant in Weimar Germany and support for extremists is rapidly growing. The Weimar government need to do something or they risk being overthrown in a violent revolution. Luckily for the government, Gustav Stresemann, a leading German politician, steps up to the mark. #GCSEHistory #GCSERevision #WeimarGermany PATREON:   / alonglongtimeago   **---Useful resources---** Quizlet Flashcards: https://quizlet.com/_6cnt50 Practice exam-style questions: Explain why support for moderate parties increased between 1923 and 1929. (12 marks) LINK FOR OTHER QUESTIONS (INCLUDING SOURCE & INTERPRETATIONS QUESTIONS): https://quizlet.com/_6cqa3d Revision Notes: - Aug 1923, Ebert appointed Gustav Stresemann as his new chancellor and foreign secretary - Nov 1923, Stresemann resigned as chancellor but remained foreign secretary - Stresemann hoped that stabilising the economy and regaining respect for Germany in foreign affairs would make Germans feel more content about the Weimar Republic - This, he hoped, would increase support for moderate parties, whilst reducing support for extremists REASONS FOR ECONOMIC RECOVERY: Rentenmark: - Nov 1923, Stresemann set up a new state-owned bank, called the Rentenbank - This bank issued a new currency: the Rentenmark - The supply of Rentenmark notes was strictly limited and their value was tied to the price of gold - The Rentenmark was backed by German industrial plants and agricultural land - This meant the Rentenmark had real value - Aug 1924, the control of the new currency was given to the Reichsbank, a newly-independent, national bank. - The currency was renamed the Reichsmark and was backed by Germany’s gold reserves - This allowed people to trust German money again and brought an end to hyperinflation The Dawes Plan, 1924: - Charles G Dawes was an American Banker, asked by the allies to resolve Germany’s non-payment of reparations - Apr 1924, Stresemann agreed to the Dawes Plan - Reparations were temporarily reduced to £50 million per year - US banks gave loans to German industry - US banks gave loans of $25 billion between 1924 and 1930 - Stresemann had called off passive resistance to the French occupation of the Ruhr, resultantly, the French agreed to leave - The German economy began to recover, benefitting workers and the middle-class - Industrial output doubled between 1923 and 1928 - Employment, trade and income from taxation increased - The German people were reassured & the Republic strengthened - Extremists were furious at Germany agreeing to pay reparations again - The economic recovery of Germany now depended upon American loans The Young Plan, 1929: - Plan put forward by a committee, headed by American Banker, Owen Young - The reparations debt was reduced from £6.6 billion to £2 billion - Germany was given a further 59 years to pay off the debt - Annual payments were still £50 million a year - The debt now stretched out until 1988 - Lower reparations meant lower taxes for the German people - This meant public spending power was released, boosting the economy and therefore employment - The French agreed to leave the Rhineland in 1930 - 1929, a referendum saw 35 million Germans in favour of the Young Plan (around 85% of voters) RECOVERY IN FOREIGN RELATIONS The Locarno Pact, 1925: - 1st Dec 1925, a treaty was signed between Germany, Britain, France, Italy and Belgium - It was agreed on equal terms with Germany, rather than imposed - Germany accepted its new, 1919, border with France and France promised peace with Germany - The Rhineland was to be permanently demilitarised - The five powers agreed to open talks with Germany about joining the league of nations - It made war in Europe less likely, thus Stresemann won the Nobel Peace Prize in 1926 - Germany was treated as an equal, which boosted German confidence in moderate parties and the Weimar government FOR FULL NOTES FOLLOW LINK: https://quizlet.com/_59lgnv IMAGE ATTRIBUTIONS Thumbnail: "Blick vom Casino Hohensyburg" by qwesy qwesy, licensed under CC-BY 3.0 Source: https://web.archive.org/web/201610201... Licence: https://creativecommons.org/licenses/... Author's Page: https://web.archive.org/web/201610201... This image has had been grey-scaled, blurred and had the contrast adjusted SOURCES: John Child, 'Edexcel GCSE (9-1) History Weimar and Nazi Germany, 1918-1939 (EDEXCEL GCSE HISTORY (9-1))' (Pearson, 2016) [ISBN: 9781292127347] It's a GCSE textbook, please don't use it for any serious academic writing! **---Social Media---** Twitter:   / alongtimeago_yt   || @alongtimeago_YT   / alonglongtimeago   || @alonglongtimeago   / alongtimeagoyt