Friday, November 6, 2015

Hitler rescued Germany's Economy.



After WWI Germany was left in economic ruin. Germany suffered most from the Great Depression in the United States in 1929. The economic setback in the United States deprived Germany of the source of finance. The frequent change of governments in the nation complicated the situation even more. On top of that Germany was forced to sign Treaty of Versailles in 1919. This treaty deprived Germany of  its own territory that contained three-quarters of its iron ore reserves. According to this treaty Germany was supposed to pay $33 billion of reparations. At this time Germany fell into the chaos of inflation. One US dollar costed 4.2 trillion Deutsch Marks. The streets of Germany were filled with people who lined up for food. The economy was ruined and people were left to starve. This is when Adolf Hitler gained popularity.  Hitler urged the nation to switch to a dictatorship, persuading the people that it would rescue the nation’s economy. German authorities conducted a monetary reform in 1923, which allowed the economy of the country grow. Hitler then went on to become Germany’s fifth chancellor. During this time a German banker,Schacht, organized a secret meeting with the chancellor. Hitler shared his plans to do away with the crisis, communists, trade union, the Treaty of Versailles and to recreate the nation’s army. 
http://english.pravda.ru/world/europe/02-07-2009/107924-hitler-0/

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