Stresemann Years: Germany and the growth of democracy: History: GCSE (9:1)

Stresemann

Chancellor of Germany for a short time but most effective as foreign minister 1924-29

Rentenmark

Stresemann introduced a new currency in 1924 which ended hyperinflation and the currency was stabilised until the end of WW2

Resentful

Those who had lost their savings during hyperinflation did not get their money back and blamed Stresemann

Dawes Plan

The USA lent Germany 800 million gold marks in 1924

Reparation payments resume

The Dawes Plan enabled Germany to start paying reparations again so the French and Belgian troops left the Ruhr and the workers went back to work

League of Nations

The war guilt clause of the treaty of Versailles had painted Germany as an aggressor preventing Germany's membership of this group of influential nations until 1926

Locarno Pact

Agreements not to go to war with each between Germany, France, Italy, Britain and Belgium signed in 1925

Young Plan

Agreed in 1929, this reduced the amount of reparations Germany had to pay and gave them until 1989 to pay them which made the payments more manageable

Infrastructure investment

Stresemann used US loans to build new factories, houses, roads and schools. This provided jobs and helped the economy to recover.

Kellogg-Briand Pact

In 1928 Germany, France and the United States signed the agreement promising never to go to war unless it was in defence.

Left-wing discontent

The Communist Party wanted a socialist system run by workers. They believed the US loans were designed to help factory owners at the expense of workers.

Right-wing discontent

The Nazis wanted a dictatorship under Hitler and other right-wing parties wanted a single ruler rather democracy and coalitions.

Dancing on a volcano'

How Stresemann described Germany's financial situation as the country was so dependent upon US loans in 1929

No benefits

Farmers did not gain during the economic recovery between 1924 and 1929 as prices for crops remained low and those who lost savings had not compensation