The Weimar Germany between 1924 and 1929 was recovering from the crisis, the hyperinflation and, the First World War. It’s often referred as “Golden Age” or “The Years of Hope.” Germans’ lives flourished. In 1923, Gustav Stresemann was assigned as the chancellor of Weimar Republic, supported by the Social Democrats. He also became foreign minister in the same year. Most people often believe that Gustav Stresemann was a significant role to “Golden Age.” However, there are discussions about Weimar Germany could have improved on their own without or with Stresemann. Modern historians may believe he wasn’t significant role, but rather Charles G. Dawes was more significant role in “Golden Age.”
After the hyperinflation, the Weimar German economy was in disaster. Their marks were worthless, 1 American dollar valued 4210500000000 German marks in 1923. Gustav Stresemann replaced these old worthless mark with the new mark called “Rentenmark.” One Rentenmark had same values with one trillion old marks and these marks were allowed to transactions with bonds in lands. So it worth something and brought inflation under control. People of the Weimar German and businesses accepted its values and started using it. The government controlled its circulation by quantity of new Rentenmark and burning the old mark. This new
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It definitely gave short-term economic benefits to the Weimar Germany economy. The burden of war reparation became much more easy to pay for Weimar Germany, because of the “Dawes Plan.” A foreign investment and loans to the German market and economy increased and it was able to bloom. However, this made German economy and market dependent on foreigners’ economy and market, which led to the “Great Depression.” The industrialization of Germany was so great, that Weimar Germany had faster economic growth than France and Britain. Also, Weimar Germany became one of the main industrialization countries in the