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German measures to stabilize the mark
In November 1924 the devalued German currency was temporarily replaced by the Rentenmark and then in August 1924 by the new Reichsmark, which was put on the gold standard. Theoretically this meant that paper banknotes could be converted into agreed, fixed quantities of gold
Gold Standard
A monetary system in which paper money and coins are equal to the value of a certain amount of gold. Intended to give a nation's currency international credibility
US Sentate
Refused to ratify the Treaty of Versailles and refused to join the League of Nations, made a separate peace settlement with Germany which made France feel insecure
US Loans during WWI
provided loans to assist the European allies and insisted on them being repaid in full
European economies
Depended on Germany meeting its reparation payments
Issues with German reparations
1. French and Belgian troops were occupying the Ruhr
2. Germany claimed it was unable to make the reparations payments
3. US insisted on full repayment of the loans it had made during WWI
Purpose of the Dawes Plan 1924
Due to the French occupation of the Ruhr, this plan was devised to address the issue of German reparations
Elements of the Dawes Plan 1924
1. French and Belgian troops would leave the Ruhr immediately
2. No reduction was made to the total amount Germany would have to pay in reparations, but it was agreed that Germany's annual payments were restricted to what "she could reasonably afford"
3. Germany's national bank would be restructured and supervised.
4. Germany received a sizeable foreign loan, mainly from the US
Effect of the Dawes Plan
France and Belgium withdrew from the Ruhr. Seemed to mark a significant change in French policy toward Germany
The Locarno Conference 1925
Considered a turning point in relations between France and Germany.
Belgium, France, and Germany all agreed to respect their joint borders
Treaty of Mutual Guarantee
Britain and Italy would come to the aid of any country who falls victim to an act of aggression in violation of the Locarno Treaties.
Aristide Briand
French Foreign Minister who took a more conciliatory approach towards Germany
Gustav Stresemann
German Foreign Minister who won a Nobel Peace Prize for his work at the Locarno Conference (Gave up Alsace, Lorraine, Eupen and Malmedy to win assurance from france.)
Criticisms of the Locarno Treaties
Treaties did nothing to secure Germany's borders with Poland and Czechoslovakia
Britain was not fully committed to taking military action to enforce the agreements made at Locarno
Locarno Spirit
The optimistic mood of reconciliation and compromise that swept through Europe after the signing of the Locarno Treaties.
Fulfilment
a policy aimed by Germany at extracting concessions from Britain and France attempting to fulfill the Treaty of Versailles
Zinoviev Letter
1924. This was a letter in which the head of the Comintern, Zinoviev, urged the British workers to provoke revolution in Great Britain. Publication of this letter in the British press was a major reason why the Conservative Party won the following election
Detente
A process of lessening tension or growing relaxation between two states
Bilateral
agreement or action between or by two states
multilateral
agreements or action between or by more than two states
Frank Kellogg
US lawyer, statesman, Senator, and Secretary of State. For his part in negotiating the Kellogg-Briand Pact he was awarded the Nobel Peace Prize in 1929
Kellogg-Briand Pact (1928)
65 nations agreed to renounce war
Was ultimately useless as there were no consequences if the agreement was broken
The Young Plan (1929)
Reduced the total sum of German reparation from £6.6 billion to £2 billion and dismantled the international controls over the German economy.
Was essentially an admission that the figure set in 1921 was too high.
Became the best example of Frances's new willingness to compromise when it came to Germany
Germany
Had invaded France twice in less than 50 years
France
developed an uncompromising position towards Germany, Invaded the Ruhr, and damaged their relationship with Britain
The Little Entente
The French alliance between the smaller countries of Poland, Hungary, and Czechoslovakia.
Treaty of Berlin 1926
Renewed the Rapallo Pact
France and the USSR
Formal diplomatic relations were established in 1924 but little was done to improve the relationship until the 1930s when the Nazis rose to power in Germany
British and the USSR
Britain was one of the first nations to recognize the Bolshevik government.
Broke off diplomatic relations in 1927 when the USSR encouraged independence movements in British-ruled India.
A trade treaty in 1929 renewed relations
USSR
resentful that they were not allowed to join the League of Nations - saw it was a way to preserve the power and influence of Britain and France
Permanent Court of International Justice
An institution set up at The Hague, the Netherlands, by Article 14 of the Covenant of the League of Nations in 1920.
Cologne Zone
area around Cologne occupied by the British
Austen Chamberlain
Member of Lloyd George's government and the British Foreign Secretary, half brother of Neville Chamberlain
Who did France and Britain appoint for the reconstruction of industry and infrastructure?
Louis Loucheur (Fra) and Christopher Addison (GB)
Lorcano held were?
Locarno, Switzerland.
In order, who were the countries returned to the gold standard?
GB (1925) France (1926) Italy (1927) everyone else (1928)
What caused the “roaring twenties"?
Because no fighting had taken place on American soil, all of the united state’s infrastructure and industry was intact. It had gained new markets and the necessities of war had encouraged it to increase manufacturing production and efficiency. Moreover it would also benefit from the repayment of the loans they gave out and because of these factors the united states experienced a economic boom.
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