Summary.
Gustav Stresemann was the Chancelor and Foreign Minister from 1923 to 1929. He accepted the Dawes Plan which outlined the war reparations Germany was to pay.
Gustav Stresemann & Dawes Plan
- Gustav Stresemann was a German politician
- He served as Chancellor and Foreign Minister during the Weimar republic
- Gustav became the Chancellor and foreign minister of Germany on August 13, 1923
- During Gustavs first year in office he dealt with the so-called "year of crises"
- Gustav called off the passive resistance at the Ruhr, and with Germany no longer able to pay for the striking workers, more and more money was printed causing hyperinflation
- To put an end to the hyperinflation a new currency the Rentenmark was created
- The Dawes plan was an attempt in 1924 to collect war reparations from Germany
- The reparations debt set by the Dawes Plan were to high and Germany relied almost entirely on loans from the United States
- The Dawes Plan proved to be unsuccessful, and was replaced by the Young Plan in 1929
Outline of the Dawes Plan
- The Ruhr area was to be evacuated by Allied occupation troops.
- Reparation payments would begin at “one billion marks the first year, increasing to two and a half billion marks annually after five years" (Merrill 93)
- The Reichsbank would be reorganized under Allied supervision.
- The sources for the reparation money would include transportation, excise, and custom taxes.
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