Make Germany Pay part 2 - the Ruhr, hyperinflation and recovery
Summary
TLDRThe transcript discusses the aftermath of World War I and the economic and political crises Germany faced in the early 1920s. After falling behind on reparations, French and Belgian troops occupied the Ruhr in 1923, leading to German passive resistance and strikes. This deepened the country's economic struggles, including hyperinflation. Gustav Stresemann became Chancellor, calling off resistance and resuming reparations. Despite nationalist backlash, inflation was controlled, and the Dawes Plan helped stabilize the economy. France withdrew from the Ruhr, and Germany reintegrated into international diplomacy through the Locarno Pact and League of Nations.
Takeaways
- 🇫🇷 France and Belgium invaded the Ruhr in January 1923 to force Germany to pay reparations.
- 🇩🇪 German workers in the Ruhr refused to cooperate with the French occupation, leading to passive resistance.
- 📉 The German government's support of the strikers exacerbated the country's financial crisis, leading to hyperinflation.
- 💸 The value of the German mark plummeted, with people needing suitcases full of money to buy basic goods.
- 🛑 Gustav Stresemann, appointed Chancellor, ended the Ruhr resistance to stabilize the economy.
- 💬 Stresemann resumed reparation payments, leading to the eventual withdrawal of French and Belgian troops from the Ruhr.
- 💥 Adolf Hitler and General Ludendorff attempted a failed coup in Munich in November 1923, resulting in their arrests.
- 🪙 Hyperinflation was brought under control by replacing the worthless mark with a new currency.
- 🇺🇸 The Dawes Plan of 1924, led by an American, reduced Germany's reparations payments, helping stabilize the economy.
- 🤝 The Locarno Pact of 1925 improved relations between France, Belgium, and Germany, with Germany joining the League of Nations in 1926.
Q & A
Why did Raymond Poincaré, the new French Prime Minister, decide to take action against Germany in 1923?
-Raymond Poincaré decided to take action because Germany fell behind with their payments, and he wanted to ensure that Germany paid in full and on time.
What was the consequence of France's decision to enforce payment from Germany in 1923?
-As a consequence, French and Belgian troops entered the Ruhr on January 11th, 1923, to force the Germans to pay up.
How did the German people and government respond to the French and Belgian occupation of the Ruhr?
-The German people and politicians united in a common cause of hatred towards the French. Workers in the Ruhr refused to cooperate with the 'enemy', and the German government supported the strikers, leading to a halt in Germany's industrial heart.
What was the French reaction to the German resistance in the Ruhr?
-The French retaliated by bringing in their own workers to get the production moving again and began to harden their attitude towards the Germans, trying to cut the Ruhr off from the rest of Germany.
What was the impact of the occupation and resistance on the German economy in 1923?
-The occupation and resistance led to the Great German Inflation reaching its peak, with the value of the mark dropping and banks struggling to meet the increasing demand for paper money.
How did the German government attempt to deal with the economic crisis caused by the inflation?
-The government attempted to deal with the crisis by printing more money to pay wages and strikers, which further devalued the currency.
Who was appointed as Chancellor to address the crisis in Germany?
-Gustav Stresemann was appointed as Chancellor to address the crisis.
What policy did Stresemann adopt to help the economy recover?
-Stresemann adopted a policy of cooperation, calling off resistance in the Ruhr and resuming the payment of reparations to help the economy recover.
What was the outcome of the Dawes Plan in relation to German reparations?
-The Dawes Plan, set up by a committee under Charles Dawes, scaled down the reparations so that Germany could afford to pay them.
How did the Locarno Pact of 1925 affect the relations between France, Belgium, and Germany?
-The Locarno Pact of 1925 saw France, Belgium, and Germany agreeing to respect their frontiers, and Britain pledged to support any country that was invaded, indicating a reduction in old enmities.
What was the significance of Germany becoming a full member of the League of Nations in 1926?
-Germany's full membership in the League of Nations in 1926 signified a further normalization of relations and a recognition of Germany's status on the international stage.
Outlines
📉 Germany's Economic Struggles and French Occupation
In late 1922, Germany fell behind on reparation payments from World War I, prompting French Prime Minister Raymond Poincaré to take action. On January 11, 1923, French and Belgian troops occupied the Ruhr, Germany’s industrial heart, to force reparations. The German population, united in defiance, organized large protests and strikes, with workers refusing to cooperate. This led to a halt in industrial production, leaving trains idle and crippling the economy. The French, determined to make progress, brought in their own workers and tightened control. German citizens, treated as if entering a foreign land, faced deportations and violence. Riots in Essen led to German deaths, inflaming national hatred towards the French. As unrest grew, French soldiers were killed, further escalating tensions. Meanwhile, inflation surged, making German marks nearly worthless, with citizens losing their savings overnight. The government printed more money to pay strikers, but it only worsened the situation. Eventually, Gustav Stresemann was appointed Chancellor, ending passive resistance in the Ruhr and resuming reparation payments in a desperate attempt to stabilize the economy.
⚖️ Failed Uprisings and Currency Reform
Amid the chaos of 1923, nationalist sentiment boiled over. Adolf Hitler and General Ludendorff, unhappy with the government's perceived capitulation, led an unsuccessful coup in Munich. Known as the Beer Hall Putsch, it ended with 14 deaths, and both leaders were put on trial. Ludendorff was acquitted, but Hitler was sentenced to prison, where he used his time to reflect. Meanwhile, the German government made progress in stabilizing the economy. A new currency replaced the worthless mark, and an international committee led by American Charles Dawes scaled down Germany’s reparation payments. In 1924, the German government accepted the Dawes Plan, and France agreed to withdraw from the Ruhr. Stresemann’s policy of cooperation culminated in the Locarno Pact of 1925, where Germany, France, and Belgium agreed to respect borders, with Britain pledging to defend any invaded country. By 1926, Germany was admitted into the League of Nations, signaling its reintegration into the global community. Despite these positive developments, underlying resentment lingered beneath a surface of newfound prosperity, with Germans now able to enjoy a semblance of normalcy after years of turmoil.
Mindmap
Keywords
💡Reparations
💡Ruhr Occupation
💡Hyperinflation
💡Passive Resistance
💡Versailles Treaty
💡Gustav Stresemann
💡Dawes Plan
💡League of Nations
💡Locarno Pact
💡National Socialism
Highlights
Germany fell behind on reparations payments in late 1922.
French and Belgian troops entered the Ruhr on January 11, 1923, to force Germany to pay.
The German people and politicians united against the French occupation.
German workers in the Ruhr went on strike, halting industrial production.
French troops brought in their own workers, escalating tensions with the Germans.
Violence erupted, leading to riots and the killing of German workers in Essen in March 1923.
The hyperinflation crisis in Germany worsened in 1923, with the mark becoming worthless.
The German government printed more money, worsening the inflation crisis.
Gustav Stresemann became Chancellor and called off resistance in the Ruhr to stabilize the economy.
Germany resumed reparations payments to get the French out of the Ruhr.
Adolf Hitler and General Ludendorff attempted a coup in Munich, which failed.
Ludendorff was acquitted, while Hitler was imprisoned for treason.
The Dawes Plan of 1924 was introduced to scale down German reparations.
France agreed to leave the Ruhr within a year as part of the Dawes Plan.
Germany joined the League of Nations in September 1926 as a full member.
Transcripts
that some would have to be paid in goods
as well as money
most would come from here in the rural
the industrial heart of germany
but at the end of 1922 the germans fell
behind with their payments
and raymond puankari the new french
prime minister
decided to act if germany wouldn't pay
in full
and on the nail then france would help
herself
so on the 11th of january 1923 french
and belgian troops
entered the ruler to force the germans
to pay up
[Music]
there was of course after versailles no
german army big enough to stop them
at first the french believed that they
could make the germans work for them
but suddenly german politicians and
people were united in a common cause
hatred of the french and huge protest
meetings were held all over germany
workers in the ruler refused to
cooperate with the enemy
and the german government supported the
strikers
germany's industrial heart stopped
beating
and the goods trains which should have
been carrying german wealth to france
lay idle in the sidings
the french hit back by bringing in their
own workers to get things moving again
their attitude towards the germans in
the roar began to harden
they tried to cut the ruler off from the
rest of the country
german visitors were searched as if they
were entering a foreign land
they deported the leaders of the passive
resistance
german officials and even the police
the result was violence
german workers had been killed in riots
at essen in march
their funeral was turned into a vast
demonstration of protest
[Music]
hatred grew germans began killing french
soldiers
and at the funeral for one of them
tempers flared into acts of brutality
[Music]
1923 was disastrous for germany
in that year the great german inflation
reached its peak
for some time the value of the mark had
been dropping and as the value of the
notes decreased
so the amount of notes needed to buy
things grew
banks became more and more hard-pressed
to meet the ever increasing demand for
paper money
for their customers suitcases replaced
wallets
to meet this crisis and pay the strikers
in the ruler
the government simply printed more money
and as it lost its value
so it cost more and more to pay wages to
buy food
hundreds of thousands millions whatever
figure was printed on the notes ready
meant nothing
the german mark was worthless as in a
fearful dream
people's life savings were blown away
like leaves in a gale as germany slid
towards disaster
gustav straserman was appointed
chancellor
[Applause]
it was a time of crisis the loss of
production in the rua was making
inflation even worse and strasman
realized that the only way to help the
economy back to normal
was to call off resistance there and get
production going again
the government also announced that
germany would resume the payment of
reparations
it was the only possible way of getting
the french out
but to the nationalists it looked like
yet another pathetic surrender to
germany's enemies
general ludendorff who'd never accepted
that germany had been defeated
gave his support to adolf hitler the
leader of the new national socialist
party
in munich the capital of bavaria they
decided to try and overthrow the
government
but hitler's stormtroopers were not yet
powerful enough and couldn't get the
support of the army or the police
their november uprising failed and
merely ended in confusion
and 14 deaths
ludendorff and hitler were put on trial
for treason
ludendorff was let off hitler was sent
to prison
where he brooded on his failure for a
few months in rather comfortable
surroundings
meanwhile inflation was being brought
under control
the old worthless money was called in
and destroyed
and replaced by a new currency at the
same time the committee under charles
dawes and american was set up by the
allies to scale down the reparations
so that germany could afford to pay them
the german leaders came to london in
1924
and agreed to accept the doors plan
strasman's policy of cooperation began
to pay off at that meeting
the french agreed to pull out of the rua
within a year
their occupation had been unpopular with
their most important allies
especially britain who'd refused to
support that attempt to humiliate
germany
as german industry returned to normal
after the chaos of
occupation and inflation strasman
brought off another triumph
this time at locano in switzerland
under the lacano pact of 1925
france belgium and germany agreed to
respect the frontiers between them
and britain said she'd support any
country that was invaded
old enmities seem to be disappearing and
germany no longer feared the threat of a
french invasion
finally at geneva in september 1926
germany became a full member of the
league of nations
brian now foreign minister of france
welcomes traisman
as an equal it was all very friendly
[Applause]
by now life in germany appeared to be
returning to normal
[Applause]
the germans relaxed
the grim aftermath of the war the
humiliation of versailles
the hysteria of 1923 all gradually faded
beneath the surface of a new prosperity
for a defeated nation still paying for a
lost war
the germans appeared not to be doing
badly
they could afford to live it up a little
have a good time
[Music]
[Music]
you
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