1. Define mark, rentenmark, reichsmark.
Did Germany recover economically from the 1923 crisis? C aim – to explain both sides and reach a judgement B aim – to explain both sides and explain your judgement A aim – to explain both sides and reach a supported judgement
This is on p. 71
Define mark, rentenmark, reichsmark.

2. Homework – due Thursday 22nd January
Using pp prepare for either of the following.
Weimar Germany enjoyed a strong economic recovery from hyperinflation.
Weimar Germany struggled to recover from hyperinflation.

3. Germany did recover
Allies wanted Germany to recover to pay reparations, Dawes Plan 1924, American loans
Prospect for growth made Weimar Germany a magnet for foreign investment until 1929
Steady prices
Trade unions got higher pay
Industrial production increased, exports grew
Growth not that far off Britain and France
Overall profit in investment vs. Reparations

4. Germany didn’t recover
Unsteady growth
Industrial growth was too low
Lack of entrepreneurs and industrial investment, too cautious
Germany falling behind
Cartelisation stifled entrepreneurs
Strike days increased 1928 to 20.3 million
Wages stagnated by 1928
Still had to pay reparations as a similar % of GDP
Fall in agricultural prices due to a world surplus in grain, this industry went into depression, indebtness and bankruptcies grew and there was peasant violence
Trade unions led to higher pay not in line with production which hit profits and investment
Only short-term investment
Unemployment stayed about 1 million, rising from 1928
Growing trade deficit (importing more than it could export)
High expectations of an expensive welfare state written into the constitution, struggled to finance it as circulation was controlled , e.g. 2.5 million war related pensions, from 15% of GNP to 26% of GNP in 1920s, it would be completely unsustainable once unemployment increased in 1929
Increasing taxes
Budget deficit remained
Subsidies artificially maintained some industries
Revaluation – the government valued debts at 15% of their original value, probably too low for creditors and too high for debtors to find, and established a lottery to give compensation, which many were unhappy with. It kept the memory of hyperinflation alive whilst this was being discussed.

5. Dancing on a volcano
Abnormal, in fact a sick economy, which could not possibly have gone on in the same way even if the world depression had not occurred. Borchhardt

6. How far had it recovered from the 1923 economic crisis?
Didn’t recover
Recovered
Weimar Economy in the 1920s
How far had it recovered from the 1923 economic crisis?

7. Clarifications
Weimar Germany was doomed to failure from How far do you agree? (30)
Freikorps
Key knowledge
Fitting in all the key knowledge

8. Homework – due Monday
Make a detailed mind-map on Culture in Weimar Germany. Be colourful and add pictures.
What were the major characteristics of Weimar Germany’s culture?
How did the German public perceive the cultural developments of the 1920s?