Hyperinflation In Germany

Reparations
1. Germany managed to pay off the first 2 billion gold marks of reparations
  1. Mostly paid in goods, e.g. coal, iron and wood
2. 1922- Germany were unable to make further payments
  1. The allies did not believe this
  2. Attitudes towards Germany were still very hostile
  3. They were accused of trying to 'get out of' their reparation responsibilities
French occupation of the Ruhr 1922
1. The Ruhr was Germany's most valuable industrial area
2. French troops took over iron and steel factories, coal mines and railways
3. Broke the rules of the League of Nations
4. Weimar Government ordered passive resistance
5. Ended in violence, and the death of 132 Germans
6. 150,000 were expelled from their homes
7. The striking workers had to be paid and the people expelled from their homes had to be looked after
  1. The Government printed more money
  2. Caused a further loss of confidence in the Weimar government
Figures and Statistics
1. By 1922 a loaf of bread cost 163 marks
  1. September 1923 bread was 1,500,000 marks
    1. November 1923- reached a peak of 200,000,000,000 marks
2. Dawes Plan 1924
  1. Set realistic targets for German reparations.
  2. Set the figure at 50 million instead of 2 billion
  3. US government loaned Germany 200 million
Impact of Hyperinflation
1. Workers were paid by the hour and rushed to spend money before it became more worthless
2. Shopping with wheelbarrows full of money
3. Pensions became worthless
4. Restaurants did not print menus, as by the time food arrived the price had increased
5. In the winter of 1923 the poor burned furniture to stop themselves freezing
6. The savings and investments of the middle classes vanished

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Hyperinflation In Germany

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