1929: Problems solved?

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In September 1923 a new Chancellor, Gustav Stresemann, put into action a plan to solve Germany’s problems. He ordered the workers of the Ruhr to return to work in order to rebuild German industry and prosperity. At the same time an American called Charles Dawes helped set a new, more realistic target for the reparations Germany was to pay.

In November 1923 Germany introduced a new currency, the Rentenmark, based on the value of all German land and assets. The Americans also loaned huge amounts of money to Germany to help the economy.

As the economy began to improve and relations with other countries got better, a new optimism began to be felt in Germany. The years 1924 to 1929 became known as the 'Golden Years'. The violence of the years 1918 to 1923 seemed a thing of the past.