The challenges of 1923 (Edexcel GCSE History): Flashcards
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Type of crisis Germany faced in 1923
Type of crisis Germany faced in 1923
Hyperinflation/economic crisis
Definition of hyperinflation
Definition of hyperinflation
Extreme price rises, money rapidly loses almost all value
Price of bread in Germany in 1919
Price of bread in Germany in 1919
1 German mark
Price of bread in Germany by Nov 1923
Price of bread in Germany by Nov 1923
200,000 billion German marks
When Germany started printing excessive money
When Germany started printing excessive money
1914-1918 (during World War I)
When France invaded the Ruhr and why
When France invaded the Ruhr and why
Jan 1923; Germany missed reparation payments
% of German industry in the Ruhr
% of German industry in the Ruhr
80% of coal, iron and steel production
German govt response to French occupation of Ruhr
German govt response to French occupation of Ruhr
Encouraged workers to strike and refuse cooperation
How govt supported striking Ruhr workers
How govt supported striking Ruhr workers
Printed massive amounts of money to pay their wages
Groups who suffered most from hyperinflation
Groups who suffered most from hyperinflation
Pensioners, savers, middle classes, working people, businesses
Why pensioners suffered from hyperinflation
Why pensioners suffered from hyperinflation
Fixed incomes/savings became worthless
Groups who benefited from hyperinflation
Groups who benefited from hyperinflation
Farmers, debtors, property owners, foreign visitors
Why debtors benefited from hyperinflation
Why debtors benefited from hyperinflation
Debts easier to repay with worthless money
Political impact of 1923 hyperinflation
Political impact of 1923 hyperinflation
Undermined faith in Weimar Republic/democratic government