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How the
Invasion of the
by: Admin
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Word Count: 1240
Date: Sat, 20 May 2006 Time: 12:00 AM
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The Crises of 1923 (Also affects of Treaty of Versailles up to 1923)
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1) Occupation of the
- French invaded the
- Passive resistance therefore no one got any money
- Government was still paying the passive resistance workers salaries
2) Inflation -> Hyperinflation
- Passive resistance <- government couldn't really afford this <- so they printed more money
- Value of currency drastically reduced
- People blamed government for agreeing to reparations
3) Beer Hall (
- September 1923, Stressemen called off passive resistance
- Extremists were unhappy, including the Nazis in
- Nazis were promised support from Bavarian local government
- 8-9th November, they attempted a revolution in
- National army and police easily crushed it
- The Bavarian local government did not give help to the Nazis in the end.
How the Weimer Republic
Invasion of the Ruhr
- September 1923 Stressemen called off passive resistance
- November - resumed reparations
Hyperinflation
- Scrapped old currency
- Introduced a new limited temporary currency (Rentenmark)
- After value had stabilized, reintroduced a permanent currency (Reich mark)
Extremist Rebellion
- Deposed left wing governments of Saxony and
- This got them the support of the army (right wing) against Bavarian nationalists
1924 - Dawes Plan <-US loan
Effects of Inflation
- Pensioners and people living on savings - savings now worthless
- Workers - were protected - wages changed appropriately even unemployment benefit changed weekly
- Debts and loans - pay back for a fraction of worth
- Rich - were protected, had foreign investments and land which kept its value
- Businessmen - could buy companies for cheap, however they too could eventually not do business
- Poor - not affected much, never had anything in the first place
- Rich - protected financially
- Middle class - lost everything, especially savings, which become worthless with loss of value of the currency
About the Author
by: Admin
Total views: 326
Word Count: 1240
Date: Sat, 20 May 2006 Time: 12:00 AM
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