1924 - 1929 The Golden Years

Stressemann
1. Good speaker and administrator
2. Appointed chancellor to deal with hyperinflation
3. Lost support of Reichstag
4. Called off passive resistance in the Ruhr
5. Became foreign secretary
Successes
1. Introduced Dawes plan 1924
  1. Included US loan of 800m gold marks
  2. Germany borrowed $3000m from US banks
2. Introduced temporary currency called the Rentenmark
  1. Could be exchanged for land or industry
  2. Following year converted into Reichsmark
    1. Restored value and reduced inflation
3. Improved relations with Britain and France
4. Ended passive resistance in the Ruhr
5. Signed Locarno Treaties of 1925
6. Awarded Nobel Peace Prize
7. Took Germany into league of nations
8. 1928 - Germany signed Kellog-Briand pact
9. Payments would start at £50m and increase to £150m over 5 year period
Failures
1. German nationalists didnt like Dawes plan
  1. Gave Allies partial control over Germany's railways and the German state bank
2. German nationalists didnt like young plan
  1. Against further payments of reparations

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