doi:10.1017/S0008938900018707. At the end of World War I, the Allied Powers met to discuss peace terms with Germany and the Central Powers. [33] Under the Young Plan, transfer protection was reduced while the Reparations Commission was abolished. [45] Ferguson has contended that the rise in the value of the mark after March 1920 was caused by speculators buying up the mark, and this revaluation of the mark led to inflation becoming a serious problem in Germany from 1921 onwards[45] Ferguson has maintained that the ratio of total German debts in 1921 to the gross national product was less than the ratio of total British debts to the British G.N.P in the same period. doi:10.1017/S0008938900018707. [50] Even without reparations, total public spending in Germany between 1920 and 1923 comprised 33% of German net national product, and Ferguson has argued that even if no reparations had been imposed, Germany would still had significant problems caused by the need to pay World War I debts combined with the demands of voters for more social services. They were meant to replace war indemnities which had been levied after earlier wars as a punitive measure as well as … [34] The task of executing the Young Plan was assigned to an international conference in The Hague which took place in August 1929. Domarus, Max; Hitler, Adolf (2007). [7], In the German public, there was little acceptance that the German army had been defeated in war. According to the terms of the Treaty of Versailles, Germany had to pay reparations for the damage caused during the First World War. ", "Hitler and the origins of the war, 1919-1939", https://simple.wikipedia.org/w/index.php?title=World_War_I_reparations&oldid=7299126, Creative Commons Attribution/Share-Alike License. Reparations were levied on the Central Powers after World War I to compensate the Allies for some of their war costs. Retrieved October 5, 2010 p. 237-238, Marks, Sally (September 1978). To the victors, it seemed fair. Lentin, Antony (1998). Germany stopped paying the reparations after Hitler's Nazi Party took power in 1933, with about one-eighth of the reparations having been paid by then. Retrieved October 5, 2010 p. 245, Marks, Sally (September 1978). Why did Germany pay reparations after ww1? When Prussia defeated France in the Franco-Prussian War of 1870-71, it "The Myths of Reparations". This was a sum that many economists believed to be too much. Keynes predicted that German iron and steel output would decrease, but by 1927 steel output increased by 30% and iron output increased by 38% from 1913 (within the pre-war borders). However by December 1922 he was faced with Anglo-American-German hostility and saw coal for French steel production draining away. There was, however, outstanding German debt that the Weimar Republic had incurred to pay the reparations. According to the agreement, the debt would be serviced for 20 years, leading to the last payments being due on 3 October 2010, the 20th anniversary of German reunification. doi:10.1017/S0008938900018707. Sally. Check out 'The Times Specialist' answers for TODAY! She said that the problem was Germany would not like to pay. https://en.wikipedia.org/wiki/German_reparations_for_World_War_II ISSN 1569-1616. [16] Instead of embracing a politically unpopular and potentially disastrous currency reform, successive governments in the early 1920s chose to muddle through the resulting economic problems while blaming everything that was going wrong with the economy on reparations.[17]. Terms of the treaty were: 1. Margaret MacMillan, a Canadian historian, showed her idea that Germany could have paid all the payments if they wanted to. "A Comment, From Armistice to Dolchstosslegende". In addition, the Young Plan divided the annual payment, set at two billion Gold Marks, US$473 million, into two components, one unconditional part equal to one third of the sum and a postponable part for the remaining two-thirds. Hitler cancelled the repayments of those loans: after WW2, because Germany was divided, an agreement was reached to defer Germany's loan repayments until after reunification. The actual total payout from 1920 to 1931 (when payments were suspended indefinitely) was 20 billion German gold marks, worth about 5 billion US dollars or one billion British pounds. This became known as the Dolchstoßlegende (stab-in-the-back myth). Austria, Hungary, and Turkey were also supposed to pay some reparations but they were so impoverished that they in fact paid very little. The total amount of reparations was fixed in 1921 on the basis of the German capacity to pay, not on the basis of Allied claims. 1924 Dawes Plan modified Germany 's reparation payments and reached the total sum due was decided by an reparations! On behalf of Conference Group for Central European History of the sum required under the of! Meeting under the Treaty of Versailles accepted that they lost the War half billion Marks in 1924 and reached total. 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