Weimar and Nazi Germany Topic Summaries

Economic recovery, 1923–1929

GCSE > History > WJEC > GCSE History: Weimar and Nazi Germany (1890-1945) > Early challenges to the Weimar Republic (1919–1923) > Economic recovery, 1923–1929
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Key Terms
  • In November 1923, Gustav Stresemann (the German Chancellor and later Foreign Minister) created a new, temporary currency called the Rentenmark, which was linked to the value of gold. This helped lower hyperinflation, and people started to trust German money again.
  • In December 1923, Stresemann signed the Dawes Plan, which meant America lent Germany money to rebuild their industry so they could afford to make reparations and repay loans.
  • The Dawes Plan was later replaced by the Young Plan (1929) which reduced reparations payments and extended the timeline, thus further helping to stabilise the German economy.
  • However, this reliance on foreign loans meant Germany had not developed a self-sustaining economy, making it vulnerable.

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