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Word Count: 866
German problems 1918-1933 Germanys main two concerns in the years between 1918-1933 were its economy and politics Both are considered to be biggest problems the Weimar republic had at the time Economic problems were among the most pressing that the young republic had to face Because of the inflationary means by which the imperial government had financed the war the German mark in 1919 was worth less than 20 per cent of its prewar value Despite Erzbergers energetic financial reforms the states revenues from taxation based on nominal values were hopelessly inadequate Moreover the economic impact of the Treaty of Versailles was crushing Germany lost 13 per cent of her territory 10 per cent of her population 15 per cent of arable land Huge amounts of ships and shipping facilities and of railway rolling-stock were delivered to the Allies All this was more important than the reparations payments imposed by the treaty although the latter attracted greater attention This was because of the link made in the treaty between reparations and the so-called war-guilt clause Article 231 bothered the Germans more than any other The amount of reparations fixed in 1921 was estimated by J M Keynes to exceed by three times Germanys ability to pay Another reason for the prominence given to reparations is their alleged contribution to the runaway inflation of the early 1920s In fact however inflation far from being the consequence of reparations preceded them Successive governments then seized on it as a means of evading reparations payments as well as for internal social purposes No German government before 1923 made any attempt to stabilize the currency because German industrialists worked out a system of inflation profiteering They would obtain short-term loans from the central bank for improvement and expansion of their plant and then repay the loans with inflated currency The Political consequences for the new republic were disastrous Of all the old forces from imperial
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