• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

How stable was the Weimar Republic, in terms of its Economy, by 1924

Extracts from this document...

Introduction

How stable was the Weimar Republic, in terms of its Economy, by 1924? In 1918 the German economy was on the verge of collapse. Germany had committed so much money to its armed forces during the First World War that it barely had enough to feed its people. This was without the complications of the Treaty of Versailles in 1919 that crippled it further. The treaty of Versailles demanded ridiculous sums of money from Germany in order to pay for damage done to Europe during the campaign. They asked the Germans for �6600 million to cover this cost. This was an enormous figure at the time and one that Germany would not have been able to pay. ...read more.

Middle

The great industrialists would also be able to pay off their debts overnight. This however started a chain reaction with money printing spiralling out of control. To compare prices: a loaf of bread in 1918 would cost you 0.63 Marks, but by November 1923 it would set you back nearly 201,000,000,000 Marks. This is a price increase of roughly thirty-two thousand billion percent (32,000,000,000,000 %). Also by 1923 people were bringing home their wages, which were paid daily, in wheelbarrows and suitcases. It was also common for people to light fires and cigarettes with banknotes because it was cheaper than striking a match. ...read more.

Conclusion

Winners of the hyperinflation included big landowners and businessmen. This is because the price of property rose with the inflation so they never lost out like the poorer citizens. The allies did not fall for the trick played on them by the Germans. They did not accept the worthless marks. What the hyperinflation did do was rally international sympathy for Germany. So much so that the USA agreed to issue loans, to Germany, to help stabilise the economy. By 1924 the German economy was very unstable and could collapse at any minute. This was mainly due to the loans from the USA that could be called in at any minute. If they had it would have thrown the republic and Germany into total financial ruin. ?? ?? ?? ?? Ben Dunkley History Weimar Republic ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Germany 1918-1939 section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Germany 1918-1939 essays

  1. Weimar, 1918 - 1923

    Who was to blame for the situation? A Wood "The collapse of the mark was to some extent due to the circumstances of war and defeat, but there is little doubt that the German government was fundamentally responsible." WL Shirer "The government deliberately let the mark tumble in order to

  2. What problems did the Weimar Republic face from 1919 to 1923, and why did ...

    Results [Defeat? Tell Me Something!] 1. Disaster The Nazis were defeated and their leaders were arrested. Hitler was arrested and put on trial for treason. He was imprisoned for 9 months and forbidden to speak in public BUT 2. Trial Hitler turned his trial into a publicity opportunity, giving long speeches.

  1. Weimar, 1924 - 1929

    Leaders Although the 1928 election saw only 12 Nazis elected to the Reichstag, those elected were good, loyal, party men. G�ring (who had returned from Sweden in 1927), Gregor Strasser, Frick, von Epp, Feder and G�bbels all made very good use of their privileges.

  2. The NaziState, Economy and Society.

    an instrument of Nazi control. The Communist Party was proscribed after the Reichstag Fire, now the SPD was banned, while the nationalists and Centre Party helpfully dissolved themselves and on 14th July the Nazi Party became the only legal political party. Less than 6 months after Hitler's appointment as Chancellor.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work