• GERMANIC MIGRATIONS AND
  • FRANKISH KINGDOM
  • JOHANNES REUCHLIN
  • THE WEIMAR CONSTITUTION
  • W
  • INFLATION, REPARATIONS, AND
  • THE STRESEMANN ERA, 19231929
  • STABILIZATION AND LOCARNO,
  • CULTURE AND SOCIETY
  • ROAD TO DICTATORSHIP,
  • T
  • CONSOLIDATION OF POWER
  • THE NAZI TOTAL STATE
  • ULRICH VON HUTTEN
  • PERSECUTION OF THE JEWS
  • RELIGION AND THE CHURCHES
  • FOREIGN POLICY
  • W
  • THE BATTLE OF BRITAIN
  • INVASION OF RUSSIA
  • HITLERS PLANS FOR EUROPE
  • TURNING OF THE TIDE,
  • THE HOME FRONT
  • THE RESISTANCE
  • PHILIP MELANCHTHON
  • D-DAY TO DEFEAT NAZI GERMANY
  • THE HOLOCAUST
  • A
  • ALLIED PLANS AND CONFERENCES
  • DENAZIFICATION
  • POLITICAL PARTIES AND TRADE
  • LOCAL STATE FORMATION
  • PARLIAMENTARY COUNCIL AND THE
  • ECONOMIC RECONSTRUCTION
  • T
  • ERASMUS OF ROTTERDAM
  • BUNDESTAG ELECTION AND
  • REGAINING SOVEREIGNTY AND INTEGRATION
  • RECONSTRUCTION AND THE ECONOMIC
  • TRANSITIONAL YEARS AND
  • THE GRAND COALITION AND YOUTH
  • THE SOCIAL-LIBERAL COALITION
  • OSTPOLITIK (FOREIGN POLICY
  • CULTURE AND SOCIETY
  • SOCIAL STRUCTURE
  • SCHMIDT ERA: SOCIAL UNREST,
  • PRINTING AND MEDICINE
  • THE KOHL ERA, 19821998
  • T
  • UPRISING OF JUNE 17, 1953
  • ECONOMIC SYSTEM
  • SOCIETY, EDUCATION, AND
  • RELATIONS WITH THE FEDERAL
  • R
  • CONSEQUENCES AND PROBLEMS OF
  • ECONOMIC UNIFICATION,
  • P
  • RENAISSANCE ART
  • UNIFICATION POLITICS AND ITS
  • FOREIGN POLICY
  • GOVERNMENT AND ELECTIONS,
  • HISTORICAL DICTIONARY A
  • A
  • Abwehr
  • Adenauer, Konrad
  • Afrika Korps
  • Agadir Incident
  • Agrarian League
  • NEED FOR CHURCH REFORM
  • Agricola, Rudolf
  • Air Force
  • Albert (Albrecht) of
  • Albert V
  • Algeciras, Conference of
  • Allied Control Council
  • Alsace-Lorraine
  • Altdorfer, Albrecht
  • Amiens, Battle of
  • Anabaptists
  • P
  • Anglo-German Naval Treaty
  • Anschluss
  • Anti-Comintern Pact
  • anti-Semitism/Jew hatred
  • anti-Semitism
  • Anti-Socialist Law
  • Ardennes, Battle of the
  • Arendt, Hannah
  • Armed Forces (Wehrmacht)
  • Armed Forces (Bundeswehr):
  • LUTHER AND MELANCHTHON
  • Army (Prussian to 1860)
  • Army (Second Empire,
  • Asylum Law
  • Atlantic, Battle of the
  • Auerstadt, Battle of
  • Augsburg, Diet of
  • Augsburg, Religious Peace of
  • Augsburg, War of the League
  • Augsburg Confession
  • Augspurg, Anita
  • LUTHER AND ZWINGLI
  • Auschwitz-Birkenau
  • Austerlitz, Battle of
  • Austria
  • Austrian Succession, War of
  • autarchy
  • autobahns
  • Axis, The
  • B
  • Baden-Württemberg
  • Ballin, Albert
  • CAROLINGIAN EMPIRE
  • KNIGHTS REVOLT AND GREAT
  • Barbie, Klaus
  • Barmen Declaration
  • Barth, Karl
  • Basic Treaty
  • Bauernschutz
  • Bauhaus
  • Baumer, Gertrud
  • Bavaria
  • Bavarian Peoples Party (BVP)
  • Bavarian Succession, War of
  • REFORMATION AND THE TOWNS
  • Bayer AG
  • Bayreuth
  • Bebel, August
  • Beck, Ludwig August Theodor
  • Beckmann, Max
  • Beer-Hall Putsch of 1923
  • Beethoven, Ludwig van
  • Benjamin, Walter
  • Benn, Gottfried
  • Bennigsen, Rudolf von
  • ANABAPTISM AND MÜNTZER
  • Benz, Carl Friedrich
  • Bergen-Belsen
  • Berghof
  • Berlin
  • Berlin, Battle for (Fall of)
  • Berlin, Congress of
  • Berlin-Baghdad Railway
  • Berlin Blockade
  • Berlin Conference
  • Berlin Wall
  • CALVINISM IN GERMANY
  • Bernstein, Eduard
  • Bethmann Hollweg, Theobald
  • Biedermeier
  • Biermann, Wolf
  • Bismarck, Otto Eduard Leopold
  • blank check
  • Bleichröder, Gerson von
  • Blenheim, Battle of
  • Blomberg, Werner von
  • Blücher, Gebhard
  • CHARLES V AND THE REFORMATION
  • Böll, Heinrich
  • Bonhoeffer, Dietrich
  • Bonn
  • Bormann, Martin
  • Born, Max
  • Borsig, August
  • Bosch, Robert
  • Bosnia-Herzegovina
  • Brahms, Johannes
  • Brandenburg
  • C
  • Brauchitsch, Walther von
  • Braun, Eva
  • Braun, Karl Ferdinand
  • Braun, Otto
  • Braun, Wernher von
  • Brecht, Bertolt
  • Bremen/Bremerhaven
  • Brentano, Elizabeth Bettina
  • Breslau
  • The Bridge
  • THE THIRTY YEARS WAR
  • Britain, Battle of
  • Brüning, Heinrich
  • Buchenwald
  • Bülow, Bernhard von
  • Bundesrat
  • Bundestag
  • Burschenschaft
  • C
  • Canisius, Peter
  • canton system
  • A
  • Carlsbad Decrees
  • Celtis, Conrad
  • Center Party
  • Chamberlain, Houston Stewart
  • Charles V
  • Charles VI
  • Charles VII
  • Charlottenburg, Palace of
  • Christian Democratic Union
  • Christian Social Union
  • LITERATURE
  • Civil Code, German (Revised
  • Clausewitz, Carl von
  • Concordat of 1933
  • Condor Legion
  • The Confederation of the Rhine was a
  • Confessing Church
  • Congress of Vienna
  • conservatism
  • constitutional traditions
  • Counter-Reformation
  • MUSIC
  • Cranach, Lucas, the Elder
  • cultured elites
  • D
  • Daimler, Gottlieb
  • Danish War
  • Danzig
  • Dawes Plan
  • D-Banks
  • D-Day
  • Degenerate Art
  • SAXON AND SALIAN DYNASTIES,
  • SCIENTIFIC REVOLUTION
  • denazification
  • Denck, Hans
  • Depression, The Great
  • Depressions
  • détente
  • Diesel, Rudolf
  • Dietrich, Josef Sepp
  • Diplomatic Revolution of 1756
  • Dix, Otto
  • Döblin, Alfred
  • GOTTFRIED WILHELM VON LEIBNIZ
  • Dönitz, Karl
  • Dresden
  • Droste-Hülshoff, Annette
  • Dual Alliance
  • Dürer, Albrecht
  • Düsseldorf
  • E
  • Edict of Toleration
  • Ehrlich, Paul
  • Eichendorff, Joseph von
  • PIETISM
  • Eichmann, Adolf
  • Eicke, Theodor
  • Einsatzgruppen
  • Einstein, Albert
  • Eisner, Kurt
  • El Alamein, Battles of
  • Elbe River
  • Ems Telegram
  • Enabling Act
  • Engels, Friedrich
  • ROCOCO
  • ENIGMA/ULTRA
  • Enlightenment
  • Erasmus, Desiderius
  • Erfurt Program
  • Erhard, Ludwig
  • Ernst, Max
  • Erzberger, Matthias
  • Eugene, prince of Savoy
  • European Coal and Steel
  • European Defense Community
  • A
  • European Economic Community
  • European Union
  • euthanasia
  • expressionism
  • Falkenhayn, Erich von
  • F
  • Fatherland Party
  • Federal Constitutional Court
  • Federal Republic of Germany
  • Federation of German Industry
  • TURKISH WARS
  • Federation of German Womens
  • feminism, 18151945
  • feminism, 19452005
  • Ferdinand II
  • Feuerbach, Ludwig Andreas
  • Fichte, Johann Gottlieb
  • Final Solution
  • Fischer, Josef Joschka
  • Fischer von Erlach, John
  • Fontane, Theodor
  • WARS OF AUSTRIAN SUCCESSION
  • Four Year Plan
  • Francis II
  • Frank, Anne
  • Frank, Hans
  • Frankfurt am Main
  • Frankfurt Parliament
  • Frederick I
  • Frederick II, The Great
  • Frederick III
  • Frederick III, The Wise
  • STATE REFORMS
  • Frederick William
  • Frederick William I
  • Frederick William II
  • Frederick William III
  • Frederick William IV
  • Free Corps
  • Free Democratic Party
  • Freemasonry/Illuminati
  • French Revolutionary Wars
  • Freytag, Gustav
  • FOREIGN POLICY AND KAUNITZ
  • Friedrich, Caspar David
  • Fritsch, Werner von
  • Fugger, Jacob the Rich
  • Führerprinzip
  • G
  • Galen, Clemens August von
  • Gellert, Christian
  • General Directory
  • Genscher, Hans-Dietrich
  • Gentz, Friedrich
  • JOSEPH II AND REFORM
  • German Christians
  • German Communist Party
  • German Confederation
  • German Conservative Party
  • German Democratic Party
  • German Democratic Republic
  • German Labor Front
  • German National Peoples
  • German Peoples Party
  • German Progressive Party
  • HOHENSTAUFEN DYNASTY,
  • VIENNA AND ARCHITECTURE
  • German Reich (Imperial) Party
  • German Womens Bureau
  • German Workers Party
  • Germany Treaty
  • R
  • FREDERICK III
  • FREDERICK WILLIAM I, THE
  • FREDERICK THE GREAT
  • SEVEN YEARS WAR
  • S
  • ECONOMY
  • POLITICAL DECENTRALIZATION
  • SOCIAL STRUCTURE
  • HABSBURG DYNASTY
  • CULTURE
  • THE ENLIGHTENMENT
  • LITERATURE AND DRAMA
  • PHILOSOPHY
  • SECRET SOCIETIES
  • T
  • R
  • THE ROMANTIC MOVEMENT
  • NATIONALISM AND LIBERALISM
  • EARLY INDUSTRIAL REVOLUTION
  • CITIES AND CRAFT GUILDS
  • REVOLUTIONS OF 1848
  • ARMY REFORM AND PARLIAMENTARY
  • O
  • THE DANISH WAR, 1864
  • AUSTRO-PRUSSIAN WAR, 1866
  • THE FRANCO-PRUSSIAN WAR,
  • COLLAPSE OF THE SECOND FRENCH
  • I
  • N
  • ART AND ARCHITECTURE
  • ORIGINS OF CAPITALISM
  • SOCIAL STRUCTURE AND WOMEN
  • EDUCATION
  • T
  • POLITICAL PARTIES
  • THE KULTURKAMPF, SOCIALISM,
  • FOREIGN POLICY AND ALLIANCE
  • BISMARCKS DISMISSAL
  • WILHELMINE GERMANY
  • T
  • THE QUESTION OF
  • LATE MEDIEVAL CULTURE
  • CONDUCT OF THE WAR
  • PEACE RESOLUTION, REFORM, AND
  • AN UNPLANNED REVOLUTION
  • N
  • POLITICAL PARTIES UNPREPARED
  • A REVOLUTIONARY PATTERN
  • WORKERS AND SOLDIERS
  • KURT EISNER AND REVOLUTION IN
  • A REPUBLIC PROCLAIMED
  • A SEVERE ARMISTICE
  • T
  • ESTABLISHMENT OF A REVOLUTIONARY
  • EBERT MAKES A DEAL WITH THE
  • THE SPARTACISTS
  • INTERPRETATION OF THE
  • A VENGEFUL PEACE
  • V
  • THE GOALS OF THE PEACEMAKERS
  • TERMS OF THE TREATY
  • WAR GUILT AND REPARATIONS
  • DENUNCIATION AND RELUCTANT
  • GERMANIC MIGRATIONS AND
  • THE STRESEMANN ERA, 19231929

    In the midst of the crisis, starting in August 1923, the tide began to turn. One

    reason was that the leading statesmen on the European stage changed. In

    France Edouard Herriot replaced vengeful Raymond Poincaré; Ramsay Mac-

    Donald became Britains first prime minister from the Labour Party; and most

    important, Gustav Stresemann became the German chancellor and foreign

    minister. At the same time it became abundantly clear that the catastrophic

    chaos in the Ruhr had to end, along with the German policy of passive resistance.

    To Stresemanns credit he took the first step to break the deadlock. Gustav

    Stresemann had developed from an ardent nationalist and monarchist into

    an equally determined advocate of international understanding and a republican

    by rational decision. Convinced that the prolongation of the Ruhr struggle

    could only lead to national ruin, Stresemann ended passive resistance on

    September 26, 1923, and began negotiations with France. Voluntary German

    reparations deliveries were resumed, and conditions in the Ruhr District gradually

    returned to normal. Stresemanns next step was to stabilize the currency,

    which he accomplished by the establishment of the Rentenbank, which issued

    a loan to the Reichsbank which in turn issued a new Rentenmark in November

    1923. This currency was backed not by gold but by a mortgage on the entire

    agricultural and industrial assets of Germany. In spring 1924 a permanent

    reichsmark, was issued. To demonstrate their serious intentions, the Germans

    balanced their budgets, making drastic budget cuts for 1924 in local, state, and

    federal governments. The new president of the Reichsbank, Hjalmar Schacht,

    restricted credit and raised interests rates. The budget balancing needed to stabilize

    the currency had negative social consequences, as it was done at the

    expense of layoffs and pay cuts of government employees.

    While Stresemann was chancellor, he also had to deal with the triple threat

    of civil war. A monarchist-nationalist revolt of the Fridericus Rex movements

    in Pomerania was crushed by the army as were the communist uprisings in

    Saxony and Hamburg mentioned earlier. Additionally, the most formidable

    attempt at counterrevolution was successfully opposed in Bavaria, where Hitler

    124 Germany

    and Ludendorff aimed at abolishing parliamentary institutions, suppressing civil

    liberties, expropriating Jews, and liquidating political opponents.

    Not that Stresemanns efforts were appreciated by all groups. His policy of

    liquidating passive resistance in the Ruhr was criticized by the nationalists on

    the right and by the Social Democrats for having been too lenient with the enemies

    of the republic. The Social Democrats consequently withdrew from the

    coalition government and formed a new one composed of Stresemanns German

    Peoples Party, the Center and Bavarian Peoples Party, and the Democrats.

    The new cabinet was headed by Wilhelm Marx of the Center Party. Fortunately,

    for the republic Stresemann was given the post of foreign minister, an office

    to which he was returned again and again in a series of coalitions.

    The period during which Stresemann directed Germanys foreign policy was

    generally characterized by international cooperation, transforming the harsh

    and punitive so-called spirit of Versailles into a more hopeful spirit of Locarno.

    The Allies were increasingly willing to aid in Germanys recovery and to restore

    her to full equality in the family of nations. At the request of the German government

    the Reparations Commission appointed two committees of financial

    and economic experts to deal with the problems of currency stabilization and

    economic rehabilitation. In summer 1924 these experts met under the leadership

    of Charles Dawes, the president of the First Bank of Chicago and later to

    become vice president in the administration of Calvin Coolidge. The resulting

    Dawes Plan was the first attempt to settle the problem of reparations on a

    purely economic basis divorced from political considerations. The plan did not

    alter the total amount of reparations of 132 billion marks, but set up a schedule

    of payment. Adopted on August 16, 1924, by the Conference of London,

    the plan stipulated that Germany was to pay 2.5 billion marks every year for

    an unspecified number of years. The annual payments were to be raised by

    mortgages on German railroads and industries, by contributions of the German

    government, and by foreign loans and credits. After five years the annual payments

    were to be readjusted based on Germanys ability to pay. The Allies also

    arranged for a loan to Germany of $200 million by a consortium of American

    banks in order to provide hard currency. The Reichs reparation payments were

    established at 2.5 billion Reichsmarks. A reparations agent, the American

    banker Parker Gilbert, established an office in Berlin to oversee the transfer of

    funds. The Dawes Plan furthermore called for the reorganization of the German

    Reichsbank, making it independent of the state and placing it under a new

    directorate, half of whom were non-German.

    Elections reflected the political mood of the country at the end of 1924. In

    the Reichstag elections of December 1924 the antirepublican German National

    Peoples Party (DNVP) became the second-largest party, which returned the conservatives

    to prominence. Further reflecting the move to the right was the election

    of Field Marshal Hindenburg as president during spring 1925. At the end of

    February Friedrich Ebert died. The electoral law provided for two ballots if one

    of the candidates did not receive a majority on the first ballot. The conservatives

    had nominated Karl Jarres, the mayor of Duisburg, who failed to win on the first

    ballot. Some of the other parties could not agree on a common candidate so the

    votes of the Weimar Coalition were fragmented. In the runoff election the SPD,

    Weimar Republic 125

    DDP, and Center Party agreed on the current chancellor, Wilhelm Marx, from

    the Center Party. Then the conservative nationalists changed their candidate to

    Field Marshal Paul von Hindenburg. It was the sister party of the Center, the

    conservative anti-socialist, Catholic-oriented Bavarian Peoples Party that broke

    ranks and secured the nomination of Hindenburg for the right. At the time Hindenburg

    was already 76 years old and did little campaigning, but with his reputation

    he won the election, although narrowly. Only a plurality of votes

    sufficed on the second ballot. Although an avowed monarchist, Hindenburg disappointed

    all those who had voted for him to restore the monarchy. He kept his

    oath of office loyally and gave strong moral support to the policies inaugurated

    by Gustav Stresemann. Only after Stresemanns premature death in 1929 did

    the soldier-president gradually succumb to the influence of rightist and reactionary

    politicians.

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