The extent of the economic recovery

• Who chaired the Dawes Plan under Stresemann's government?

  Charles Dawes
• What was the total amount of reparations finalized by the Dawes Plan?

  $6.6 billion
• How much did Germany initially pay under the Dawes Plan?

  1000 million marks
• What was the annual increment in payments Germany was required to make under the Dawes Plan?

  2500 million marks
• How much loan did Germany receive from the USA to help with reparations?

  800 million marks
• What did Gustav Stresemann warn about the economic position of Germany in 1929?

  It was flourishing only on the surface and could collapse if short-term loans were called in
• What was the purpose of the Dawes Plan?

  To provide a temporary settlement of the reparations issue
• What was the outcome of the international committee headed by Owen Young in 1929?

  It produced a report on the final settlement of the reparations issue
• What did the Young Plan require Germany to do regarding reparations?

  Continue paying reparations until 1988
• How much was the total reparations bill reduced to under the Young Plan?

  £1.8 billion
• What was the reaction of nationalist opinion in Germany to the Young Plan?

  It inflamed nationalist sentiment
• Who launched a campaign against the Young Plan?

  Alfred Hugenberg
• What was the 'freedom law' proposed by Hugenberg's group?

  A law to repudiate the war-guilt clause of the Treaty of Versailles
• How many signatures did the petition for the 'freedom law' attract?

  4,135,000 signatures
• What percentage of the electorate voted for the 'freedom law'?

  13.8 percent
• What was the impact of Adolf Hitler's involvement in the campaign against the Young Plan?

  It enabled him to make a decisive breakthrough as a national political figure
• What was the state of industry in Germany after 1924?

  It was more stable and prosperous
• What contributed to the improvement of Germany's economic situation after 1924?

  The new currency and economic loans
• What industries expanded in Germany during this period?

  The car and aeroplane industries
• What was the inflation rate in Germany close to after 1924?

  Close to zero
• How many dwellings were built in Germany in 1925?

  178,930 dwellings
• What was the trend in the number of strikes in German industry during these years?

  The number of strikes declined
• What was the maximum working day set by the Weimar Republic?

  Eight hours
• What was the employers' reaction to the new system of compulsory arbitration?

  They felt it was biased in favor of the unions
• What happened to the German economy after 1927?

  The economy shrank and investment in new machinery fell
• What was the outcome of the wage dispute in the iron and steel industry in 1928?

  The employers locked out the workers for four weeks
• What was the unemployment rate in Germany by the end of 1925?

  One million
• What contributed to the rise in unemployment in Germany during these years?

  Public spending cuts and companies reducing their workforces
• What was the situation of the Mittelstand during the economic recovery?

  They gained very little from the economic recovery
• How did the hyperinflation of 1923 affect the middle class?

  It bankrupted many middle-class individuals
• What was the impact of the agricultural depression on farmers during this period?

  Few farmers were able to make a profit
• What happened to smaller peasant farmers during the inflation of the early 1920s?

  Their savings were wiped out by inflation
• What measures did the government take to help farmers after 1923?

  Made it easier for farmers to borrow money
• What was the effect of falling prices on farmers' debts?

  Farmers became saddled with debt
• What was the farmers' reaction to increased taxes introduced for welfare benefits?

  They regarded it as an unfair burden
• What happened to German agricultural production by 1929?

  It was at less than three-quarters of its pre-war levels
• What were the key points of the economic recovery in Germany from 1924 to 1929?

  • Stability after hyperinflation
  • New currency issued
  • Foreign loans attracted
  • Industrial growth in certain sectors
  • Not all Germans benefited, especially farmers and the Mittelstand
• What were the challenges faced by farmers during the economic recovery in Germany?

  • Worldwide agricultural depression
  • Low food prices
  • Increased debt due to borrowing
  • High taxes for welfare benefits
  • Bankruptcies and loss of land
• What were the experiences of the Mittelstand during the Weimar economic recovery?

  • Gained little from economic improvements
  • Bankrupted by hyperinflation
  • Wages did not rise as much as in the industrial sector
  • Lacked access to welfare benefits