Weimar response to economic challenges - Hyperinflation

What started hyperinflation?

Invasion of Ruhr leading to gov printing more money to pay strikers

Newspaper hyperinflation prices

1922: 1 mark

Nov 1923: 700 billion marks

What did people have to rely on in hyperinflation and what's the issue with that?

Black market

Couldn't supply enough for everyone so prices rose

Also rely on Notgeld

Who made profit in hyperinflation?

Black marketers coz people had to rely on it due to worthlessness of money

What was emergency money called?

Notgeld

What is notgeld?

Emergency money

Who issued notgeld?

Towns, regions and businesses

How much staff did gov cut back on in hyperinflation?

750,000

When did gov cut back on 750,000 staff?

During hyperinflation 1923

What year was hyperinflation?

1923

Who did gov cut 750,000 of in hyperinflation?

gov staff

Why did people on fixed payments from gov suffer during hyperinflation?

Payments lost value

Who did Stresemann appoint as President of Reichsbank?

Schacht

Stayed until 1939

When did Schacht stop being President of Reichsbank?

1939

When did Schacht become President of Reichsbank?

1923

When did Stresemann become Chancellor of the new coalition?

August 1923

What party was Stresemann part of?

DVP

What was Stresemann's emergency decree August 10?

Gave gov powers such as postponing Reichstag meetings and governing by decree

Why did Stresemann's coalition need the Emergency decree of Aug 10?

So Reichstag could make decisions quickly and efficiently

What did Stresemann pass in Aug 10?

Emergency decree

2 things Stresemann banned

Emergency money

Hoarding of foreign currnecy

What did Stresemann replace the mark with in Oct 1923?

Rentenmark

When did the Rentenmark replace the mark?

Oct 1923

When was the Rentenmark replaced with the Reichsmark?

Aug 1924