describe the impact of the economic crisis of 1923 on german
y?
6 to 7 points
fast.................
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1. Germany had fought the war largely on loan and had to pay war reparation in gold according to peace treaty with the allies . this depleted gold reserve at a time when other resources were scarce
2. when the gold reserves started depleting fast , Germany refused to pay war reparation ( in gold ) in 1923 . consequently France, it's neighbours and an allied country occupied the leading bgerman industrial area , Ruhr. it claimed coal for payment.
3. Germany retaliated with passive resistance and excessive printed paper currency.with too much printed money in circulation , the value of the German mark fell drastically.
4. in April 1923, the value of 1 us dollars was equal to 24,000 marks . by December the figure had run into trillions . as the value of mark collapsed, prices of goods rose high.
5. the Germans were shown carrying cartloads of currency notes to buy a loaf of bread . this economic crisis came to be known as hyper inflation .
2. when the gold reserves started depleting fast , Germany refused to pay war reparation ( in gold ) in 1923 . consequently France, it's neighbours and an allied country occupied the leading bgerman industrial area , Ruhr. it claimed coal for payment.
3. Germany retaliated with passive resistance and excessive printed paper currency.with too much printed money in circulation , the value of the German mark fell drastically.
4. in April 1923, the value of 1 us dollars was equal to 24,000 marks . by December the figure had run into trillions . as the value of mark collapsed, prices of goods rose high.
5. the Germans were shown carrying cartloads of currency notes to buy a loaf of bread . this economic crisis came to be known as hyper inflation .
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