This is a short summary of the paper
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The Great Inflation
Start of Term Paper
In late-1922 the German government were forced to ask the Allies for a
moratorium on reparations payments; this was refused, and she then
defaulted on shipments of both coal and timber to France. By January of
the following year, French and Bel .... Middle of Term Paper
... With less than three per cent of government expenditure
being met from income and with the cost of one dollar at four billion
marks, Germany was in the throes of economic and social chaos. Starvation
became a reality for millions of people, despite a bumper cereal harvest,
as shops reverted to the barter system. Farmers refused to accept the
effectively worthless, banknotes in exchange for grain, and food quickly
began to run short in the cities. Prices rose one trillion-fold from their
pre-war level. More importantly, for the long-term political future of
Germany, the middle and working classes saw their savings wiped out.
These were, in e ... |
| Number of Words: 2278 |
Approximate Pages: 9 |
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