Gustav Stresemann

Gustav Stresemann

Abolished the existing currency which was worthless after hyperinflation
1. Set up the new currency, the Rentenmark
  1. Gave a newly independent bank, the Reichsbank control of the Rentenmark
    1. This ensures confidence in Germany from foreign countries and at home
Persuaded the other great nations to let Germany into the League of Nations
1. They got a position of the Nations council which made important decisions
  1. Showed that Germany was being considered as an equal-not just dictated to
Agreed to the Dawes Plan in April 1924
1. This plan was that annual payments of the reparations were reduced to an affordable level and that American banks gave loans and invested in German industry
  1. The French left the Ruhr because they were assured that the reparations would be paid
  2. As a result of this...
    1. Industrial output doubled during 1923-28
    2. Imports and exports increased
    3. Employment went up
    4. Government income from taxes went up
Agreed to Young Plan in August 1929
1. Reduced reparations from £6.6 billion to £2 billion and gave Germany 59 years to pay
  1. This meant that the amount they has to pay each month was much more manageable, and taxes could be lowered
    1. Released a lot of spending power
      1. Boosted economy and industry
Signed Locarno Pact in October 1925
1. Said that...
  1. France was at peace with Germany
  2. Germany would keep its 1919 border
  3. Germany would be considered for the League of Nations
  4. The last allied troops would leave the Rhineland
Joined the left and right together
1. He was supported by both moderate left and right wing parties
  1. He could pass measures easily

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