POST WWI GERMANY
This is a timeline of the major ( and minor ) events that occurred in Germany after WWI outlining the social and economic upheaval leading up to the hyperinflation crisis of 1923. I have tried to be as accurate as possible by cross-checking dates and events with multiple sources. It is, I think, fairly comprehensive, and I'm sure it will provide the necessary Zeitgeist to comprehend the catastrophe that overtook Germany at the time.
- November 3rd - The Kiel Mutiny begins when German sailors learn Admiral Reinhardt Scheer plans a suicide attack against the British Royal Navy. Newly-released sailors spread discord to other northern German cities.
- November 8th - Kurt Eisner’s Free Republic of Bavaria is proclaimed with Eisner as President and with Social Democratic Party of Germany ( Sozialdemokratische Partei Deutschlands = SPD ) and Independent Social Democratic Party of Germany ( Unabhängige Sozialdemokratische Partei Deutschlands = USPD ) members as his cabinet.
- November 9th - Kaiser Wilhelm II reluctantly abdicates the throne of Germany. On the same day, SPD leaders Friedrich Ebert and Philip Scheidemann proclaim a German republic.
- November 11th - The Armistice is signed in a railway car at Compiegne in France and ends the fighting of World War I.
- December 14th - General Georg von Maercker creates the first (Freiwilligen Landesjägerkorps) of many post-war Freikorps paramilitary units from ex-army volunteers disgruntled by Germany's loss of the war. Kurt von Schleicher, Hermann Ehrhardt, Hans von Seeckt, Gustav Noske, Fedor von Bock, and other military officers assist in the formation and organization of Freikorps units. This ultimately leads to the formation of the secret Black Reichswehr and Sondergruppe R organizations used to assassinate and intimidate their enemies, and re-arm the German military.
- December 23rd - 25th - Unpaid and unsympathetic sailors overrun the German Chancellery and take Ebert hostage. He is rescued by loyal Imperial troops with the assistance of Kurt von Schleicher, but armed conflict breaks out between the sailors and the army with casualties on both sides.
- December 25th - The Stahlhelm ( Steel Helmet ) veterans association is formed by Franz Seldte in Magdeburg. It becomes an influential right-wing social and political force with close ties to the paramilitary Freikorps.
- January 1st - Communist Party of Germany ( Kommunistische Partei Deutschlands = KPD ) is formed.
- January 5th - German Workers Party ( Deutsche Arbeiter Partei = DAP ) formed in Bavaria. After Adolf Hitler joins later in the year it eventually evolves into what is known as the Nazi Party.
- January 6th - The Communist uprising by KPD elements called the "Spartakusbund" ( Spartacus League ) begins in Berlin.
- January 8-13th - The Freikorps paramilitary are unleashed by the SPD on Berlin to crush the KPD communist revolt.
- January 15th - KPD leaders Rosa Luxemburg and Karl Liebknecht are kidnapped and executed by Freikorps paramilitary. The "Spartacus" revolt ends.
- January 18th - The Paris Peace Conference convenes to decide the fate of the Central Powers. The treaties with each nation are named after suburbs of Paris - Germany receives the Treaty of Versailles.
- January 19th - The new German National Assembly is elected. The SPD, Catholic Center Party ( Zentrumspartei = Z ), and German Democratic Party ( Deutsche Demokratische Partei = DDP ) win the most seats.
- February 6th - The National Assembly meets in Weimar to avoid the instability in Berlin. They begin drafting a new constitution for Germany.
- February 11th - SPD leader Friedrich Ebert is elected president by the National Assembly.
- February 13th - SPD leader Philip Scheidemann forms a coalition government at Weimar and is elected Chancellor.
- February 21th - Kurt Eisner - President of the Free Republic of Bavaria and USPD member - is on his way to the Bavarian Parliament to resign and is assassinated by right-wing student Count Anton Arco auf Valley. An hour later, 2 gunman enter the Bavarian Parliament during Eisner's eulogy, subsequently killing and wounding several Landtag members as revenge for what they believe to be the SPD's complicity in the assassination.
- March 4th - 13th - The Freikorps paramilitary units are again unleashed by the SPD on Berlin to eradicate communist resistance during a workers strike. Casualties are estimated to be in the 1,000's.
- March 6th - Provisional "Reichswehr" defense force formed with returning troops from the dissolved Imperial German Army.
- April 7th - May 2nd - Communist "Räterrepublik" uprising in Munich is suppressed by Freikorps and Reichswehr troops sent by the SPD. Hard-line Marxists kill prominent citizen hostages and right-wing "Thule" Society members in a last desperate act. In retaliation, Freikorps troops massacre 100's including innocent civilians. The Marxist/Spartakist leaders are imprisoned or executed.
- May 7th - Foreign Minister Ulrich Graf von Brockdorff-Rantzau and the German Delegation are summoned to Versailles to view the Versailles Treaty conditions. Brockdorff-Rantzau vigorously protests the provisions of the treaty and refuses to sign.
- May 23rd - Freikorps forces composed of the remnants of the German 8th Army as the "Eiserne Brigade", and including the "Baltische Landeswehr" ( a supposed Latvian defense force actually made up mostly of German ex-army Stormtroopers ), succeed in capturing Riga, Latvia in an Allied approved offensive to stop advances of the Russian Red Army in the Baltics. Their commander, General von der Goltz, then attempts to reestablish German control in Latvia by force - attacking both the Latvian and Estonian troops.
- June 1st - First Rhineland Republic formed by J. A. Dorten in Wiesbaden with French backing. The first of many attempts by the French to create a Rhenish buffer state between them and Germany.
- June 19th - 21st - The German Freikorps troops in Latvia are defeated by Latvian and Estonian forces. Allied British authorities then purge the Baltic forces of Germans to restore order, and many battle-hardened veterans grudgingly return to Germany. However, many diehard Freikorps troops continue fighting until November.
- June 20th - Philip Scheidemann resigns as Chancellor. Ulrich Graf von Brockdorff-Rantzau resigns as Foreign Minister. Both in protest over the Versailles Treaty conditions. Minister of Labor Gustav Bauer ( SPD ) replaces Scheidemann.
- June 21st - Gustav Bauer forms a new coalition German government as Chancellor.
- June 21st - Under the command of Admiral von Reuter, all 50 warships of the captured German fleet interned by the British at Scapa Flow in the Orkney Islands are scuttled in defiance of the Armistice.
- June 28th - New Chancellor Gustav Bauer sends a delegation to Versailles to accept the terms and sign the Treaty of Versailles. World War I officially ends.
- June 28th - Under an attachment to the Treaty of Versailles, the Rhineland is to be occupied by 4 separate Allied forces administered by an appointed civilian authority.
- July 4th - The Universal German Trade Union Alliance party ( Allgemeine Deutsche Gewerkschaftsbund = ADGB ) forms.
- July 14th - The Allied trade embargo of Germany is lifted.
- August 11th - The Weimar Constitution is adopted and the Republic begins.
- August 17th - 25th - The First Silesian Uprising of Polish Silesians against the occupying German forces. Former Reichstag member Wojciech Korfanty leads a small insurgent army that is ultimately pushed back by Freikorps troops to a demarcation line previously set by the Allies to separate the Germans and Poles in Upper Silesia.
- September 10th - Treaty of St. Germain: Austria loses much of it's territory and is forbidden to incorporate with Germany.
- September 12th - Adolf Hitler investigates and subsequently joins the Bavarian German Workers Party ( Deutsche Arbeiter Partei = DAP ).
- September 26th - US President Woodrow Wilson gives a speech in defense of the League of Nations to counter growing opposition in the United States.
- October 8th - The Allies order all German Freikorps troops in Latvia under General von der Goltz to return to German territory.
- October 13th - The French government ratifies the Treaty of Versailles.
- October 15th - The British government ratifies the Treaty of Versailles.
- October 18th - The Italian government ratifies the Treaty of Versailles.
- October 30th - The Japanese government ratifies the Treaty of Versailles.
- November 19th - The US Senate rejects the ratification of the Treaty of Versailles and the League of Nations.
- November 20th - The remaining German Freikorps troops in Latvia retreat back into Germany.
- December 16th - The remaining German Freikorps troops in Lithuania retreat back into Germany.
- January 10th - The League of Nations is established in Geneva, Switzerland. West Prussia is incorporated into Poland. Germany and Japan sign a separate peace agreement.
- January 23rd - The Dutch government refuses to hand over Kaiser Wilhelm II to the Allies for war crimes prosecution.
- February 10th - In the German province of North Schleswig a plebiscite vote results in favor of secession to Denmark of the northern portion called Zone I.
- February 11th - The League of Nations begins the administration of the Free State of Danzig.
- February 15th - Allied troops ( mostly French ) occupy and administer Upper Silesia to quell fighting amongst Germans and Poles.
- February 15th - Allied troops ( mostly French ) occupy and administer the Memel ( Klaipeda ) territory. It is later united with Lithuania in 1923.
- February 24th - The Bavarian German Workers Party ( DAP ) led by Adolf Hitler, changes it's name to the National Socialist German Workers Party ( Nationalsozialistische Deutsche Arbeiterpartei = NSDAP ) at the Hofbräuhaus in Munich. The Nazi Party is born.
- February 26th - The League of Nations takes over administration of the Saar district from Germany.
- March 5th - The treaty of Berlin is signed between Germany and Latvia.
- March 13th - 17th - Right-wing politician Wolfgang Kapp attempts to overthrow the Republic. With support from General Lüttwitz's Reichswehr and disgruntled Freikorps troops he forces Ebert's government to flee Berlin. However, after arriving in the capital, most Reichswehr and Freikorps troops remain neutral to both sides without violence as an enticement. Ebert calls for a general strike in Berlin which succeeds in neutralizing Kapp's putsch after 4 days. Kapp and Lüttwitz flee to Sweden.
- March 14th - Another North Schleswig plebiscite vote results in favor of retention by Germany of the southern portion called Zone II.
- March 19th - The US Senate again rejects the Treaty of Versailles.
- March 19th - April 3rd - The Red Army of the Ruhr is formed. Encouraged by the success of the Berlin workers strike against Kapp's failed right-wing revolt, Marxist sympathizers arm themselves and fight Freikorps troops throughout the Ruhr industrial area. Reichswehr and Freikorps troops brutally suppress the revolt on orders from the SPD government they had overthrown the week before.
- March 27th - Hermann Müller ( SPD ) becomes Chancellor of Germany when Gustav Bauer resigns after the Kapp Putsch.
- April 3rd - The German government cuts off pay to paramilitary troops and disbands the Freikorps units. Many of the soldiers join underground groups like the "Black Reichswehr" which receive support from sympathetic military and right-wing sources such as the Stahlhelm veterans association.
- April 6th - May 17th - French troops enter Germany and occupy Darmstadt, Frankfurt and other areas of the Ruhr in an attempt to demilitarize the area after German paramilitary units crush the communist uprising.
- May 20th - The United States Congress passes a joint resolution to end the war with Germany because of their stalemate in signing the Versailles Treaty. President Woodrow Wilson vetoes the act.
- June 4th - The Treaty of Trianon is signed - breaking up the Austro-Hungarian empire.
- June 6th - National elections are once again held for the Reichstag. The SPD and others of the Weimar coalition lose their advantage to a mixture of new political parties due to dissatisfaction with the Versailles Treaty.
- June 21st - Konstantin Fehrenbach ( Z ) becomes Chancellor forming a new government with DDP and DVP members.
- July 5th - 16th - The Spa Conference takes place in Belgium. The German government submits a proposal for reparations payments to the Allies and agrees to disarmament.
- July 11th - The districts of Allenstein in East Prussia and Marienwerder in West Prussia vote to stay in the German Republic instead of ceding to Poland.
- August 17th - 22nd - The Second Silesian Uprising of native Poles against the occupying German forces. One year after his last failed attempt, Korfanty and his Polish irregulars attempt to push the Germans from Silesia. The Freikorps stems the revolt and an enforced Allied cease-fire puts both sides back to the original demarcation line.
- September 20th - The districts of Eupen and Malmedy in Germany are ceded to Belgium.
- November 9th - The Free City of Danzig forms under League of Nations protection.
- November 15th - First League of Nations assembly meeting held in Geneva.
- December 7th - USPD & KPD parties merge into United Communist Party of Germany ( Vereinigte Kommunistische Partei Deutschlands = VKPD ). A portent of the waning influence of Communism in the German Republic.
- January 24th - 30th - A Conference of Allied ministers in Paris formulate a reparations plan in which Germany is to pay 226 milliard gold marks in 42 fixed annual payments from May 1st , 1921 until May 1st , 1963. And additionally, to pay 42 variable annuities each equal to 12% of German exports. Dates were also set for Germany to fulfill the disarmament demands of the Allies which included abolition of conscription, surrendering of arms and ships, and repeal of the Reichswehr law.
- February 21st - March 4th - The London Conference convenes and the Allied Powers re-negotiate the schedule of reparations payments. They also develop plans for sanctions for non-payment.
- March 8th - September 30th - Allied troops occupy the Rheinland to force Germany to concede to the payment of reparations. Initially, the cities of Düsseldorf, Duisburg, and Ruhrort are occupied. Much of the Rheinland is subsequently held as a demilitarized zone between Germany and France until June, 30th 1930.
- March 16th - Friedrich Otto Hörsing, head of the government of Saxony, orders police to occupy mines and factories in Mansfeld; which provokes a communist uprising led by Max Hölz in central Germany. Similar spontaneous clashes occur in the Hamburg shipyards, and in the Ruhr district, between communist VKPD agitators, workers, and police.
- March 20th - The plebiscite to decide the fate of Upper Silesia is held with the vote going 60% for retention by Germany, resulting in the Third Silesian Uprising.
- April 11th - Death of the last German Empress - Auguste Victoria.
- April 27th - The reparations burden is reduced to 132 milliard gold marks.
- May 3rd - July 8th - Third Silesian Uprising occurs as Polish/Silesian forces, led by Wojciech Korfanty - with tacit French approval - succeed in routing Prussian General Karl Höfer’s paramilitary Grenzschutz and in gaining control of 2/3’s of Upper Silesia until the Allies impose a cease-fire order.
- May 10th - Chancellor Konstantin Fehrenbach ( Z ) resigns over the reparations demands forced on Germany. Finance Minister Joseph Wirth ( Z ) becomes Chancellor of Germany and begins to implement a policy of “fulfillment” with the Allied demands.
- May 11th - Germany agrees to the reparations demands.
- May 21st - General Bernhard von Hülsen commands his Freikorps forces to counterattack against Polish positions at Annaberg. Korfanty’s troops are pushed back and ultimately rely on the Allied forces to reinstate their cease-fire in Silesia on June, 10th.
- July 29th - Adolf Hitler becomes the leader of the National Socialist German Workers Party ( NSDAP ), more commonly known as the Nazi party.
- August 25th - The Treaty of Berlin is signed between the United States and Germany as a separate peace.
- August 26th - Matthias Erzberger, the former minister of finance, is murdered by 2 Freikorps fanatics - Heinrich Schulz and Heinrich Tillessen. As the German representative who signed the Armistice he was loathed as the symbol of defeat by right-wing forces. Another voice of political moderation and fiscal responsibility was silenced.
- August 31st - The first milliard ( 1,000,000,000 ) in Gold marks for reparations is paid by Germany, precipitating a 1/3 fall in the value of the Paper mark.
- October 2nd - Death of Wilhelm II, last King of Württemberg.
- October 12th - The League of Nations recommends dividing Upper Silesia between Germany and Poland in contravention of the March plebiscite.
- October 20th - The Allied Council gives the majority of Upper Silesia to Germany, but gives important coal mining areas to Poland.
- October 21st - President Woodrow Wilson ratifies the Treaty of Berlin ending the war between the United States and Germany.
- October 26th - Germany accepts the partitioning of Upper Silesia.
- November 2nd - Germany ratifies the Treaty of Berlin.
- November 4th - Nazi “Storm Troopers” ( Sturmabteilungen = SA ) battle with Socialists at the Hofbräuhaus in Munich where Hitler was giving a speech.
- November 11th - Hugo Stinnes and other industrialists meet with Chancellor Wirth to propose privatization of the Reichsbahn and other government enterprises in exchange for credit to pay the 500 million gold mark reparations payment due on January 15th, 1922.
- January 13th - Near the end of the Conference of Cannes, the Allied Reparations Commission grants Germany a temporary postponement of their payment of 500 million gold marks due on the 15th of January. In exchange, Germany would have to pay 31 million gold marks every ten days.
- March 21st - The Allied Reparations Commission fixes the obligations of Germany at 720 million gold marks in cash and 1.45 billion in production for 1922, but with drastic economic measures to be enacted by May 31st.
- March 30th - The Reichstag passes a resolution protesting the requirements and economic controls ordered by the Allied Reparations Commission.
- April 16th - Treaty of Rapallo between Germany and the Soviet Union is concluded. German Minister for Foreign Affairs Walther von Rathenau signs the document which absolves both parties from punitive war reparations and re-establishes diplomatic and economic ties.
- April 27th - Part I of Fritz Lang’s cinema thriller "Dr. Mabuse, The Gambler" is released to movie theaters. The film is a powerful allegory of the chaos and intrigue present in Germany at the time.
- May 15th - The German-Polish Convention is signed and the majority of Upper Silesia is returned to Germany. However, a smaller, but more industrialized, portion of eastern Upper Silesia is ceded to Poland in contravention of the 1921 plebiscite.
- May 26th - The Reichsbank - through a new law insisted upon by the Allies - becomes a completely independent institution that is no longer answerable to the German government. Bank policy is now completely under the control of President-for-life Rudolf Havenstein.
- May 26th - Part II of Fritz Lang’s "Dr. Mabuse, The Gambler" is released in the theaters. The evil Dr. Mabuse is believed by many to be an amalgam of the predatory entrepreneurs - such as Hugo Stinnes - that oversee the ruin of Germany.
- May 31st - The Allied Reparations Commission grants a 6 month moratorium on reparations payments by Germany due to persistent economic problems.
- June 24th - German Minister for Foreign Affairs Walther von Rathenau is assassinated by members of the secret right-wing "Organisation Consul" formed by Freikorps officer Hermann Ehrhardt. Rathenau is ambushed in his car by Erwin Kern and Hermann Fischer. The two assassins flee to Saaleck castle near Hammelburg where Kern is killed in a gun battle with Police, while Fischer turns his weapon on himself and commits suicide. This same insidious organization is responsible for the assassination of Mathias Erzberger and other critics of the militaristic right-wing. After Rathenau’s death, the mark begins depreciating rapidly, falling to 300 marks to the dollar for the day. Current Chancellor Joseph Wirth assumes the duties of Foreign Minister.
- August 7th - 14th - The London Conference on German reparations discusses a moratorium on payments. The French representatives call for heavy liens against the capital and production of industries on the Left Bank of the Rhine and the Ruhr district as preconditions for a moratorium. The British reject the French demands and the moratorium is subsequently defeated.
- November 22nd - Joseph Wirth resigns as Chancellor and Foreign Minister over Allied reparations demands. His vacated offices are assumed by non-aligned politicians Wilhelm Cuno ( industrialist, and former Chairman of the Hamburg-America Line ) and Hans von Rosenberg, respectively.
- December 26th - The Reparations Commission declares Germany in default due to a delayed timber delivery to France.
- January 10th - January 15th - Lithuanian troops invade Memel( Klaipeda ) and force the French troops to withdraw. Lithuania absorbs the predominantly German populated territory despite protests from the Allies.
- January 11th - 60,000 French and Belgian troops begin the occupation of the Ruhr district as a response to the German government's default on reparations payments.
- January 19th - To counter the occupation of the Ruhr the Cuno government calls for a campaign of passive resistance to the occupying forces. The government provides food and wage subsidies to the occupied area.
Monthly Average Circulation of Reichsbank paper notes - 1,984 Milliard marks
( 1,984,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 4,281 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 2,785 Paper marks.
- February 4th - French troops expand the occupation of the Ruhr to the towns of Offenburg, Appenweier and Buhl.
Monthly Average Circulation of Reichsbank paper notes - 3,513 Milliard marks
( 3,513,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 6,650 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 5,585 Paper marks.
- March 14th - The Nazi Party ( NSDAP ) is outlawed.
- March 31st - Krupp steel workers in Essen attempt to stop French troops from requisitioning food supplies. 13 workers are killed by the French during the riot.
Monthly Average Circulation of Reichsbank paper notes - 5,518 Milliard marks
( 5,518,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 5,047 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 4,883 Paper marks.
- April 13th - Workers in Mulheim seize the Town Hall and proceed to set up their own government and militia.
Monthly Average Circulation of Reichsbank paper notes - 6,546 Milliard marks
( 6,546,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 5,825 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 5,212 Paper marks.
- May 26th - Albert Leo Schlageter; Freikorps member, NSDAP member, and Rheinland saboteur, is executed by the French in Düsselldorf for his role in violent resistance to the Ruhr occupation. The Nazi’s proclaim him a martyr.
Monthly Average Circulation of Reichsbank paper notes - 8,564 Milliard marks
( 8,564,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 11,355 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 8,170 Paper marks.
Monthly Average Circulation of Reichsbank paper notes - 17,291 Milliard marks
( 17,291,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 26,202 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 19,385 Paper marks.
Monthly Average Circulation of Reichsbank paper notes - 45,594 Milliard marks
( 45,594,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 84,186 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 74,787 Paper marks.
- August 11th - Workers in Berlin organize and call for a general strike to remove the Cuno government from office.
- August 12th - Wilhelm Cuno resigns as Chancellor of Germany due to the failure of his passive resistance policies and increasing economic problems. Gustav Stresemann of the German People’s Party ( Deutsche Volkspartei = DVP ) is enlisted as his replacement and forms a strong coaltion government with the major political parties.
- August 14th - Chancellor Stresemann appears before the Reichstag and announces the introduction of fixed value wages based on the goldmark standard.
- August 15th - The Reichstag passes a law allowing the government to borrow and issue up to 500 million goldmarks in currency.
Monthly Average Circulation of Reichsbank paper notes - 663,000 Milliard marks
( 663,000,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 1,100,632 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 944,041 Paper marks.
- September 24th - 26th - The government of Ebert and Stresemann issue instructions and then publicly announce the end of the passive resistance program in the Ruhr.
Monthly Average Circulation of Reichsbank paper notes - 28,229,000 Milliard marks
( 28,229,000,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 23,500,000 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 23,900,000 Paper marks.
- October 1st - Major Fedor von Bock crushes a coup attempt by Major Ernst von Buchrucker and his Black Reichswehr troops in Küstrin.
- October 15th - The Rentenbank is established to issue the new Rentenmark currency backed by state-owned property.
- October 18th - Bavaria breaks diplomatic relations with Berlin. Prime Minister of Bavaria von Knilling declares martial law and appoints Gustav von Kahr to State Commissioner. Kahr heads a dictatorial center-right government supported by the local Bavarian Reichswehr under General Otto von Lossow and Bavarian Police Commissioner Colonel Hans von Seisser.
- October 21st - President Ebert sends General Müller and the Reichswehr into Saxony to stop a communist takeover by the VKPD. Brandler and his communist organizers fail to find enough support for a general strike and the insurrection never materializes.
- October 21st - November 27th - Rhenish separatist movements take hold in Aachen and Koblenz. Johannes ( Hans ) Adam Dorten is again involved in creating a Rheinland republic with French and Belgian backing; this time the capital is Cologne (Köln).
- October 23rd - 25th - Communist VKPD members seize police stations in Hamburg. Fighting breaks out between police and VKPD militia, but without public support the insurrection collapses within days.
- October 27th - Chancellor Stresemann demands the resignation of the government in Saxony and the restoration of the authority of the Republic in Bavaria. Erich Zeigner, the socialist President of Saxony, is subsequently removed by General Müller. Stresemann's plea to Bavaria is ignored.
Monthly Average Circulation of Reichsbank paper notes - 2,500,000,000 Milliard marks
( 2,500,000,000,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 6,100,000,000 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 7,095,000,000 Paper marks.
- November 5th - 6th - A mob of 30,000 people riot in Berlin to protest the misery brought on by the hyperinflation.
- November 8th - 9th - The infamous “Beer Hall Putsch” occurs in Munich. On the evening of Nov. 8th,1923 Adolf Hitler surrounded the Bürgbräu Keller in Munich with 600 of his Nazi storm troopers and effectively captured most of the Bavarian government. With lies and threats he managed to form an uneasy alliance with Commissioner Kahr and the local politicians. Late the next morning, in an attempt to march to General von Lossow’s Reichswehr headquarters to convince the army to join them, a rabble of 3,000 armed supporters led by Hitler, WWI hero General Ludendorf, and others were fired upon at a police barricade at the Odeonsplatz before reaching Lossow’s offices. 14 of Hitler’s followers and 3 Police were killed in the exchange of gunfire. For his part in this minor, but bloody, revolution Hitler only received the minimum sentence of 5 years... and served only 8 1/2 months; and, contrary to the law, was not deported ( he was an Austrian ) as an undesirable foreigner.
- November 12th - Franz Josef Heinz declares an autonomous Pfalz ( Palatinate ) Republic in Speyer. Despite having French backing, Heinz is assasinated by the right-wing "Organization Consul" on January 9th, 1924 and the republic is overthrown within a month of his death.
- November 12th - Hjalmar Schacht is declared Reich's Currency Commissioner and begins plans to stop the hyperinflation and stabilize the German economy. He begins by raising the exchange rate of the dollar versus the mark on the Berlin Exchange each day until it reaches 4.2 Billion paper marks to the dollar on Nov 20th.
- November 15th - The Rentenbank issues the new Rentenmark with a value equivalent to 1 pre-war Gold mark or 1 Billion ( 1,000,000,000,000 ) paper Reichsmarks ( which is achieved on Nov 20th ). The Reichsbank is ordered to stop discounting Treasury bills and the printing of paper marks.
- November 17th - The Reichsbank is ordered by Schacht to stop accepting "Notgeld" notes as legal tender and to redeem all notes in it's possession.
- November 20th - Rudolf Havenstein, President of the Reichsbank, dies in office and is subsequently replaced by Hjalmar Schacht; who beats out Karl Helfferich for the position.
- November 23rd - Gustav Stresemann resigns as Chancellor of Germany and dissolves his cabinet due to waning support. Stresemann becomes the Foreign Minister, while Wilhelm Marx ( Z ) replaces him as Chancellor.
Monthly Average Circulation of Reichsbank paper notes - 400,300,000,000 Milliard marks
( 400,300,000,000,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 522,300,000,000 Paper marks.
Wholesale Price Index ( 1913 = 1 ) - 726,000,000,000 Paper marks.
- December 31st - The Statistical Bureau of the Reich estimates that the equivalent of 728 Million Gold marks in Reichsbahn notes, Gold Loan notes, and other authorized Emergency issues are still in circulation. This amount will be cut in half by the end of March 1924. The amount of unauthorized "Notgeld" is unknown, but estimated to be 100's of Trillions of paper marks.
Monthly Average Circulation of Reichsbank paper notes - 496,500,000,000 Milliard marks
( 496,500,000,000,000,000,000 ).
Monthly Average Exchange Rate - 1 Gold mark = 1,000,000,000,000 Paper marks = 1 Rentenmark.
Wholesale Price Index ( 1913 = 1 ) - 1,262,000,000,000 Paper marks.
- January 21st - Charles G. Dawes, an American financier, meets with French, British, Belgian, and Italian representatives in Paris to discuss a solution to the German economic crisis and reparations payments.
- February 14th - The Reich decrees that private credits such as mortgages and savings deposits are to be revalued at a fraction of their amount due to the currency revaluation that occurred with the introduction of the Rentenmark. The law is intended to correct inequities between creditors and borrowers brought about by the assumed "mark equals mark" policies during the inflation.
- April 7th - Hjalmar Schacht, as President of the Reichsbank, imposes a ban on credit grants to businesses to curtail borrowing for foreign currency speculation and hoarding.
- April 9th - The Dawes Plan to restructure Germany's reparations burden is presented to the Allied Reparations Commission.
- April 10th - Hugo Stinnes, industrialist and inflation profiteer, dies in Berlin at age 54. Without his direction, his huge business empire begins a downward spiral.
- April 30th - A currency act creates a new Reichsmark that is equal to 1 Gold mark.
The Players and The Pawns