The Stresemann Era
How was the Stresemann era a successful period for the Weimar Republic?
Gustav Stresemann became the German Chancellor in August 1923. A committed nationalist, he also believed that Germany’s problems could only be solved by negotiating with other countries.
In 1923, the German economy was in ruins, as hyperinflation had caused the German currency to lose its worth to foreign countries. When Stresemann came to power he introduced the Rentenmark, a new currency and reduced government spending, resulting in 700,000 government employees losing their jobs. While this helped put an end to hyperinflation, Germany was still suffering from the Treaty of Versailles, and found it hard to pay reparations.
In 1924 the USA agreed to loan Germany 800 million gold marks, through what came to be known as the Dawes Plan. It also stated that reparations would be reduced, and Germany was given a longer period of time to pay this back. As it became clear that Germany could not meet the annual payments, a new plan called the Young Plan was written in 1929 and formally adopted in 1930. This plan helped to extend the payment of reparations even further and helped the German economy recover from ruins.
The USA also agreed to loan over 25 billion marks to Germany. This money was used to help rebuild German industry. After WWI, Germany was hated by most countries for causing devastation during the war. Stresemann didn’t want to have bad relations with foreign countries, so in 1925 he signed the Locarno Pact with France and Belgium, to respect each other’s borders and not attack them. To keep peace with other countries as well, Germany joined the League of Nations in 1926.
In 1928 Germany was one of 60 countries to sign the Kellogg-Briand Pact, which renounced war as an instrument of foreign policy. Through these pacts Stresemann helped to improve international relations with other countries, this helped the international acceptance of Germany.
By signing pacts with other
Gustav Stresemann became the German Chancellor in August 1923. A committed nationalist, he also believed that Germany’s problems could only be solved by negotiating with other countries.
In 1923, the German economy was in ruins, as hyperinflation had caused the German currency to lose its worth to foreign countries. When Stresemann came to power he introduced the Rentenmark, a new currency and reduced government spending, resulting in 700,000 government employees losing their jobs. While this helped put an end to hyperinflation, Germany was still suffering from the Treaty of Versailles, and found it hard to pay reparations.
In 1924 the USA agreed to loan Germany 800 million gold marks, through what came to be known as the Dawes Plan. It also stated that reparations would be reduced, and Germany was given a longer period of time to pay this back. As it became clear that Germany could not meet the annual payments, a new plan called the Young Plan was written in 1929 and formally adopted in 1930. This plan helped to extend the payment of reparations even further and helped the German economy recover from ruins.
The USA also agreed to loan over 25 billion marks to Germany. This money was used to help rebuild German industry. After WWI, Germany was hated by most countries for causing devastation during the war. Stresemann didn’t want to have bad relations with foreign countries, so in 1925 he signed the Locarno Pact with France and Belgium, to respect each other’s borders and not attack them. To keep peace with other countries as well, Germany joined the League of Nations in 1926.
In 1928 Germany was one of 60 countries to sign the Kellogg-Briand Pact, which renounced war as an instrument of foreign policy. Through these pacts Stresemann helped to improve international relations with other countries, this helped the international acceptance of Germany.
By signing pacts with other