The Weimar Republic, officially known as the German Reich, was a historical period of Germany from 9 November 1918 to 23 March 1933, during which it was a constitutional federal republic for the first time in history; hence it is also referred to, and unofficially proclaimed itself, as the German Republic. The period's informal name is derived from the city of Weimar, which hosted the constituent assembly that established its government. In English, the republic was usually simply called "Germany", with "Weimar Republic" not commonly used until the 1930s.
Walther Funk was a German economist and Nazi official who served as Reich Minister for Economic Affairs (1938–1945) and president of Reichsbank (1939–1945). During his incumbency, he oversaw the mobilization of the German economy for rearmament and arrangement of forced labor in concentration camps. After the war he was tried and convicted as a major war criminal by the International Military Tribunal at Nuremberg. Sentenced to life in prison, he remained incarcerated until he was released on health grounds in 1957. He died three years later.
Hjalmar Schacht was a German economist, banker, politician, and co-founder of the German Democratic Party. He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic. He was a fierce critic of his country's post-World War I reparations obligations. He was also central in helping create the group of German industrialists and landowners that pushed Hindenburg to appoint the first NSDAP-led government.
Gottfried Feder was a German civil engineer, a self-taught economist, and one of the early key members of the Nazi Party and its economic theoretician. One of his lectures, delivered on 12 September 1919, drew Adolf Hitler into the party.
The Young Plan was a 1929 attempt to settle issues surrounding the World War I reparations obligations that Germany owed under the terms of Treaty of Versailles. Developed to replace the 1924 Dawes Plan, the Young Plan was negotiated in Paris from February to June 1929 by a committee of international financial experts under the leadership of American businessman and economist Owen D. Young. Representatives of the affected governments then finalised and approved the plan at The Hague conference of 1929/30. Reparations were set at 36 billion Reichsmarks payable through 1988. Including interest, the total came to 112 billion Reichsmarks. The average annual payment was approximately two billion Reichsmarks. The plan came into effect on 17 May 1930, retroactive to 1 September 1929.
The Reichsmark was the currency of Germany from 1924 until the fall of Nazi Germany in 1945, and in the American, British and French occupied zones of Germany, until 20 June 1948. The Reichsmark was then replaced by the Deutsche Mark, to become the currency of West Germany and then all of Germany after the 1990 reunification. The Reichsmark was used in the Soviet occupation zone of Germany until 23 June 1948, where it was replaced by the East German mark. The Reichsmark was subdivided into 100 Reichspfennig. The Mark is an ancient Germanic weight measure, traditionally a half pound, later used for several coins; Reich comes from the official name for the German state from 1871 to 1945, Deutsches Reich.
The Anglo-German Naval Agreement (AGNA) of 18 June 1935 was a naval agreement between the United Kingdom and Germany regulating the size of the Kriegsmarine in relation to the Royal Navy.
The Rentenmark was a currency issued on 15 November 1923 to stop the hyperinflation of 1922 and 1923 in Weimar Germany, after the previously used "paper" Mark had become almost worthless. It was subdivided into 100 Rentenpfennig and was replaced in 1924 by the Reichsmark.
The Four Year Plan was a series of economic measures initiated by Adolf Hitler in Nazi Germany in 1936. Hitler placed Hermann Göring in charge of these measures, making him a Reich Plenipotentiary (Reichsbevollmächtigter) whose jurisdiction cut across the responsibilities of various cabinet ministries, including those of the Minister of Economics, the Defense Minister and the Minister of Agriculture. The Four Year Plan was part of the alternative governmental structure created by Hitler and the Nazi Party, which included entities such as Organisation Todt and the unification of the Schutzstaffel (SS) and the German police forces, including the Gestapo, under Heinrich Himmler.
MEFO was the more common abbreviation for German: MEtallurgische FOrschungsgesellschaft m.b.H., a dummy company set up by the Nazi German government to finance the German re-armament effort in the years prior to World War II.
Like many other nations at the time, Germany suffered the economic effects of the Great Depression, with unemployment soaring after the Wall Street Crash of 1929. When Adolf Hitler became Chancellor of Germany in 1933, he introduced policies aimed at improving the economy. The changes included privatization of state owned industries, import tariffs, and an attempt to achieve autarky. Weekly earnings increased by 19% in real terms from 1933 to 1939, but this was largely due to employees working longer hours, while the hourly wage rates remained close to the lowest levels reached during the Great Depression. In addition, reduced foreign trade meant rationing of consumer goods like poultry, fruit, and clothing for many Germans.
Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923. The German currency had seen significant inflation during the First World War due to the way in which the German government funded its war effort through borrowing, with debts of 156 billion marks by 1918. This national debt was substantially increased by 50 billion marks of reparations payable in cash and in-kind under the May 1921 London Schedule of Payments agreed after the Versailles treaty.
The Secret Meeting of 20 February 1933 was a secret meeting held by Adolf Hitler and 20 to 25 industrialists at the official residence of the President of the Reichstag Hermann Göring in Berlin. Its purpose was to raise funds for the election campaign of the Nazi Party.
German rearmament was a policy and practice of rearmament carried out by Germany from 1918 to 1939, in violation of the Treaty of Versailles which required German disarmament after WWI to prevent it starting another war. It began on a small, secret, and informal basis shortly after the treaty was signed, but was openly and massively expanded after the Nazi Party came to power in 1933.
The Bank of Issue in Poland, also variously translated into English as the Bank of Issue, Issue Bank, Issuing Bank or Emitting Bank in Poland, was a bank of issue created in 1940 by Nazi Germany in the General Government within occupied Poland.
The 1929 German Referendum was an attempt during the Weimar Republic to use popular legislation to annul the agreement in the Young Plan between the German government and the World War I opponents of the German Reich regarding the amount and conditions of reparations payments. The referendum was the result of the initiative "Against the Enslavement of the German People " launched in 1929 by right-wing parties and organizations. It called for an overall revision of the Treaty of Versailles and stipulated that government officials who accepted new reparation obligations would be committing treason.
Öffa bills or job-creation bills were promissory notes created in 1932 by the German government. They were aimed at additional fund-raising for public building initiatives and later for job creation schemes.
The Hague conference on reparations of 1929-30 was an international conference on World War I reparations that reviewed and adopted the Young Plan, the final attempt during the Weimar Republic to settle the reparations issue. The conference was held in The Hague, Netherlands in two parts, from 6 to 31 August 1929 and from 3 to 31 January 1930.
The Judenvermögensabgabe was an arbitrary special tax imposed on German Jews under the Nazi dictatorship. The tax was only a part of a larger series of actions taken by the Nazis to systematically plunder Jewish assets.
The Deutsche Golddiskontbank was a state-owned special bank founded in 1924 to promote German export industry by financing raw material imports. It was liquidated in 1945.
