“The Weimar Republic experienced a golden age in political stability between 1924 and 1928”
Germany was in disarray in 1918 when Germany signed the armistice. Germany was plunged in revolution after a naval rebellion broke out at Kiel. Multiple groups attempted to take over Germany. The Weimar Republic was eventually formed. It promised equal rights for all citizens and a democratic republic. The republic did not calm tensions and provide political stability post-1918, however. Inflation and harsh terms in the treaty at Versailles caused a rise in resentment among the German public toward the newly founded republic, right up to the crisis of 1923. But historians claim that Germany experienced political stability from 1924 to 1928. This was largely due to Stresemann’s intervention in the hyper-inflation crises by introducing Rentenmark. American loans and investment through the Dawes plan were also key factors. Critics have said that there was no “golden period” and that, in fact, the Weimar Republic was in crisis.
Some historians believe it is impossible to call the period between 1924 and 1928 in Germany a “golden era of political stability”, as there was no stable government. In just four years, nine governments succeeded each other. All were coalition governments. It was impossible to have any impact because the next Government would make changes that were not in the original Government’s plans. There were also minority Governments that governed the period. As such, Governments couldn’t pass legislation because of opposition parties. The German public was disenfranchised from the establishment because of the absence of strong governance during this period. The period from 1924 to 1928 is clearly different. However, the stability that followed 1924 is obvious. To pay their enormous debts, the Government had been printing ever more money to inflate the market. This was up to 1923. The Deutschmark became so useless that the Government printed more money. Many Germans opted instead for primitive barter economies. The French-Belgian invasion at the Ruhr made hyperinflation even worse. German workers in Ruhr went to strike as they didn’t get their reparations. This lead to France and Belgium jointly occupying Ruhr. The German government chose to pursue a passive resistance policy. They paid strikers but didn’t confront the occupying troops. Passive resistance led to more money being paid than they were able to pay in annual reparation payments. This exacerbated hyper-inflation crises. In 1923, Stresemann was made chancellor and established the Rentenmark currency. It helped stabilize the economy and ended hyper-inflation. The period of crisis from 1923-1928 is comparable to the much more stable and prosperous years between 1924-1928. The “golden era” saw real wages rise for workers in the industrial sector and there was a newfound sense of prosperity. This is quite opposite to what happened during the golden era.
Some historians argue, however, that the so-called “Golden age” was not as prosperous as people think. Stresemann said in a speech shortly prior to his death that the economic position was only “thriving on the surface”. Although the economy grew between 1924-1927, it declined in 1928. The problem of unemployment continued, and by March 1926 it had fallen to 3 million. This, along with the wall street crash just after the golden era, indicates that, although it seemed like the economy was recovering, it was built upon unstable foundations.
Conclusion: I believe that although the Weimar Republic seemed more stable politically, it was actually only because of American investment. Germany couldn’t rely on America after the Wall-Street crash, which led to economic disaster. While the Weimar Republic seemed to have a false sense, it didn’t really enjoy any stability.
