hyperinflation

What directly caused hyperinflation?

The German government printing loads of money in response to the collapse of industry following the French invasion of the Ruhr.

What did hyperinflation do to the German currency?

It made the currency worthless.

Who did hyperinflation benefit?

Big industrialists who could pay off their debts,

the German government which could settle its war debts more easily,

and people with loans as their repayments became substantially less in real terms.

Who was particularly hurt by hyperinflation?

The middle classes, as their savings became entirely worthless

, and pensioners, whose fixed incomes lost all purchasing power.

What happened to many people’s wages during hyperinflation?

They were paid daily rather than monthly because the value of money was falling so rapidly.

What could happen to the price of a loaf of bread while you were in the queue?

The price could double during the time taken to move from the back of the queue to the front.

When was hyperinflation at its height (its worst)?

In November 1923.

How much did a loaf of bread cost by November 1923?

201 billion marks.

How did some people take their wages home?

In wheelbarrows.

Why was hyperinflation a serious crisis for the Weimar Republic?

It wiped out the savings of the middle classes and pensioners—groups that would normally support a democratic system—and made the German government appear weak and ineffective.

What did British historian Finlay McKichan say about hyperinflation?

'Many middle-class Germans never forgave the republic' for hyperinflation.

Who solved the hyperinflation crisis?

Gustav Stresemann, who briefly became Chancellor in August 1923.

How did Stresemann end hyperinflation?

He called off passive resistance in the Ruhr and replaced the old mark with a new currency, the Rentenmark.

Who did hyperinflation benefit politically?

Right-wing opponents of the Weimar Republic—they used the crisis as another point of attack against the existing system.

How do you spell the chancellor’s name who solved hyperinflation?

Stresemann (with one s in the middle and two n’s).

Who believed the republic was in crisis and it was a good time to try and overthrow it?

Many right-wing groups—including those later associated with the Nazi movement—felt that the crisis presented an opportunity to overthrow the Weimar Republic.