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Review: Was the period 1924 to 1929 a ‘Golden Age’?

Supporting ‘evidence’

Counter-Argument

POLITICS

  • There were no more ‘putsches’ against the Government.
  • No more political assassinations!
  • Extremist parties like NSDAP + KPD were in decline.
  • The NSDAP had only 2.6% of the vote in 1928.
  • Moderate Parties had over 60% of support in the Reichstag.
  • Stresemann’s Foreign Policy meant European reconciliation.
  • There were 6 coalition Governments.
  • No Government lasted a full term (of 4 years)
  • Nationalists were critical of Stresemann’s ‘fulfilment’ policy.
  • The Civil Service  e.g. Army and Judges remained very conservative (and suspicious of democracy)
  • Some called it ‘a republic without republicans’.

ECONOMICS

  • Stresemann ended hyper-inflation.
  • the Rentenmark stabilised the currency.
  • The Dawes Plan provided much needed investment.
  • By 1928 industrial growth was at pre war levels.
  • By 1929 Germany was a leading exporter (just behind the USA) Increased 40% over the 1920s.
  • The Young Plan of 1929 significantly reduced the burden of reparations. 
  • Any recovery was built on short term loans. (Over-dependence)
  • Unemployment was still 1.3 million.
  • Agriculture  suffered a downturn from 1927.
  • The state debt was rising.

SOCIETY

  • Strong cultural revival - Berlin a European hub for the arts.
  • Advances in women’s’ rights.
  • An Insurance law in 1927 supported the unemployed.
  • Much investment in new housing. ( 2 million homes built)
  • Real wages increased - Industrial workers best paid in Europe.
  • Cultural backlash - changes viewed as ‘un German’.
  • Female employment fell from 78% in 1918 to 28% in 1925.
  • Middles classes saw no material gain. (High unemployment) - Government favouring the ‘working classes’.
  • Industrialists / business owners paid higher taxes - to fund the welfare system.
  • There was a growing urban / rural divide. (? National unity)