13 agos 1923 anni - Stresemann made chancellor

Descrizione:

Ebert appointed Stresemann as his chancellor and foreign secretary. Stresemann wasn't chancellor for long, but he remained as foreign secretary until 1929.

He was very important in ending hyperinflation in Germany as well as increasing international respect for Germany.

He created the Rentenbank in November 1923. This issued a new currency, the Rentenmark, which was stable because it was tied to the price of gold. Gradually, this new trusted currency was brought into circulation and ended hyperinflation. In 1924, it was taken over by the new independent national bank, the Reichsbank, and renamed the Reichsmark. Germany could now trade abroad and have a more stable economy. However, people who had lost everything due to hyperinflation couldn't regain their losses.

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