How Did Streismann Solve the Problems Facing the Weimar Republic in the Years 1924 – 1929?

In: Historical Events

Submitted By bubblebrap
Words 1111
Pages 5
Gustav Streismann, elected chancellor of Germany in 1923, had several problems facing him. Due to their defeat in the First World War, Germany was forced to sign the treaty of Versailles, which was very unpopular. This resulted in problems as Germany was unable to keep to some of the treaty.

Germany’s economic problems in 1923 stemmed from the treaty of Versailles: one of the points of the treaty was that Germany had to pay reparations to France, Belgium and the United Kingdom as a payment for the allies’ loss in the war. However, the huge sum of 132000 million marks was practically impossible for Germany to pay, especially after the devastation of the First World War, when a lot of the country’s money had been spent on industry, making war materials. France and Belgium saw this as a refusal to keep to the terms of the treaty; they therefore invaded the Ruhr (the part of Germany where its industries were) to take the money by force. The Germans could not resist this invasion physically as their arms had been dramatically reduced by the treaty of Versailles. Instead, they fought back by passive resistance and refused to work for their occupiers. But, as they weren’t working, they didn’t get paid – so the Weimar government began to print millions of marks to keep up their payment. Consequently, the German economy spiralled into massive hyperinflation – in November 1928, one egg cost 80000 million German marks. Workers’ wages simply could not keep up with the rate of inflation.

One of the ways Streismann helped Germany to recover from this economic crisis was to introduce a new currency called the rentenmark. The old German marks were recalled and burnt. This brought inflation under control and the new currency was quickly accepted by the German people and made the economy more stable. People could once again receive wages and be able to pay for their sustenance…...

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