The it was evident that Germany would not

The Young Plan

            Following
the conclusion of World War I, the nation of Germany was placed under increasing
pressure to fulfill the demands put forth by The Treaty of Versailles. The Treaty,
signed in 1919, demanded approximately 132 billion gold marks (US $33 billion) be
paid in reparations to account for the mass destruction of government and
civilian property caused by the damages of war. A nation already suffering from
increasing economic and political strains was unable to comply with the rigid
terms of the treaty. As a result, the Young Plan was introduced in August 1929,
and was formally adopted by the nation in January 1930. Headed by American industrialist
Owen Young, a representative who had previously been involved in the formation
of the Dawes Plan of 1924, the plan was presented by the committee. The
theoretical sum of 132 billion gold marks was established by the Inter-allied reparations
commission, however, after the Dawes Plan was put into action, the sum was
significantly reduced to a practical 50 billion gold marks. Even with the
support of the Dawes Plan, it was evident that Germany would not be able to
meet the annual payments willingly over a period. To further aid Germany’s
economic situation, the Young Plan further reduced the required payments by
approximately 20 percent (Dunlap,
Annette B. 2016). Furthermore,
the Young plan portioned the annual payments which were situated at approximately
2 billion gold marks (US $473 million), into two categories; a conditional and unconditional
part equal to one third and two thirds of the sum respectively.

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            Though the plan was intended to aid
the economy and significantly reduce Germany’s obligations towards the Treaty,
it was not met with equal appreciation from other parts of the political spectrum.
Many citizens and conservative groups opposed the plan as it was seen as an
issue and proved that the Weimer government had betrayed the nation by agreeing
to its terms. Seeing the Young plan as an act of treachery and victimization, a
coalition was formed consisting of various conservative groups, one of them
including Adolf Hitler and the Nationalist Socialist German Workers Party (NAZI
Party). Alfred Hugenberg, the man who spearheaded the charge against the Young
plan, aimed to enact Freiheitsgesetz
(Liberty
Law) which would renounce all reparations and would ensure that any German official
involved in their collection would be punished under criminal offense. In order
to cement the law in German society, the Reichstag required 10 percent of
eligible voters to sign a petition favouring the law. However, if the Reichstag
opposed the law, it would be put to a national referendum. Both Hugenberg and
Hitler sought to exploit one another in an attempt to further their own
purposes. Hugenberg intended to use Hitler as “a drummer to win back the masses
to the rightist cause” (Joseph W. Bendersky). Hitler on the other hand, saw
Hugenberg as “a key to national attention, to respect among middle-class
voters, and to financial resources from big businesses” (Joseph W. Bendersky). Together
they created a mass of propaganda in hopes of “aggravateing popular
discontent and to fire hatred wherever possible” (Joseph W. Bendersky). Due to
the campaign being headed by rightists, big businesses and other influential
rightist groups supported it, allowing for the Nazis to gain nationwide
popularity. Hitler who was once banned in speaking in many places, was now
allowed to legally hold speeches and employ the use of his dynamic oratory to
attract individuals and inspire the large crowds.

            Although
the referendum of November 1929 resulted in a failure, “with less than 14
percent of the voters in favour of rejecting the Young plan” (Joseph W. Bendersky),
Hitler and his party benefited greatly. The Nazi Party had now gained widespread
recognition throughout the nation allowing them to access greater financial resources
in the future. Adolf Hitler had now risen from the shadows and established
himself as a “politician of national stature who appeared to have the
confidence of Hugenberg” (Joseph W. Bendersky). Hitler had risen through the
ranks and found to be a respectable ally by many high-ranking German
politicians and business elites. His political campaign against the Young Plan had
received major publicity through media owned by Alfred Hugenberg, allowing him
and the Nationalist Socialist Workers Party to gain credibility and respectability
amongst the German citizens. This newfound power and influence gave rise to
Hitler and the spread of his ideologies across the nation finally allowing him
to reach his goal of power and ruling when he was finally appointed the
Chancellor of Germany in January 1933. 

The Young Plan

            Following
the conclusion of World War I, the nation of Germany was placed under increasing
pressure to fulfill the demands put forth by The Treaty of Versailles. The Treaty,
signed in 1919, demanded approximately 132 billion gold marks (US $33 billion) be
paid in reparations to account for the mass destruction of government and
civilian property caused by the damages of war. A nation already suffering from
increasing economic and political strains was unable to comply with the rigid
terms of the treaty. As a result, the Young Plan was introduced in August 1929,
and was formally adopted by the nation in January 1930. Headed by American industrialist
Owen Young, a representative who had previously been involved in the formation
of the Dawes Plan of 1924, the plan was presented by the committee. The
theoretical sum of 132 billion gold marks was established by the Inter-allied reparations
commission, however, after the Dawes Plan was put into action, the sum was
significantly reduced to a practical 50 billion gold marks. Even with the
support of the Dawes Plan, it was evident that Germany would not be able to
meet the annual payments willingly over a period. To further aid Germany’s
economic situation, the Young Plan further reduced the required payments by
approximately 20 percent (Dunlap,
Annette B. 2016). Furthermore,
the Young plan portioned the annual payments which were situated at approximately
2 billion gold marks (US $473 million), into two categories; a conditional and unconditional
part equal to one third and two thirds of the sum respectively.

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For You For Only $13.90/page!


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            Though the plan was intended to aid
the economy and significantly reduce Germany’s obligations towards the Treaty,
it was not met with equal appreciation from other parts of the political spectrum.
Many citizens and conservative groups opposed the plan as it was seen as an
issue and proved that the Weimer government had betrayed the nation by agreeing
to its terms. Seeing the Young plan as an act of treachery and victimization, a
coalition was formed consisting of various conservative groups, one of them
including Adolf Hitler and the Nationalist Socialist German Workers Party (NAZI
Party). Alfred Hugenberg, the man who spearheaded the charge against the Young
plan, aimed to enact Freiheitsgesetz
(Liberty
Law) which would renounce all reparations and would ensure that any German official
involved in their collection would be punished under criminal offense. In order
to cement the law in German society, the Reichstag required 10 percent of
eligible voters to sign a petition favouring the law. However, if the Reichstag
opposed the law, it would be put to a national referendum. Both Hugenberg and
Hitler sought to exploit one another in an attempt to further their own
purposes. Hugenberg intended to use Hitler as “a drummer to win back the masses
to the rightist cause” (Joseph W. Bendersky). Hitler on the other hand, saw
Hugenberg as “a key to national attention, to respect among middle-class
voters, and to financial resources from big businesses” (Joseph W. Bendersky). Together
they created a mass of propaganda in hopes of “aggravateing popular
discontent and to fire hatred wherever possible” (Joseph W. Bendersky). Due to
the campaign being headed by rightists, big businesses and other influential
rightist groups supported it, allowing for the Nazis to gain nationwide
popularity. Hitler who was once banned in speaking in many places, was now
allowed to legally hold speeches and employ the use of his dynamic oratory to
attract individuals and inspire the large crowds.

            Although
the referendum of November 1929 resulted in a failure, “with less than 14
percent of the voters in favour of rejecting the Young plan” (Joseph W. Bendersky),
Hitler and his party benefited greatly. The Nazi Party had now gained widespread
recognition throughout the nation allowing them to access greater financial resources
in the future. Adolf Hitler had now risen from the shadows and established
himself as a “politician of national stature who appeared to have the
confidence of Hugenberg” (Joseph W. Bendersky). Hitler had risen through the
ranks and found to be a respectable ally by many high-ranking German
politicians and business elites. His political campaign against the Young Plan had
received major publicity through media owned by Alfred Hugenberg, allowing him
and the Nationalist Socialist Workers Party to gain credibility and respectability
amongst the German citizens. This newfound power and influence gave rise to
Hitler and the spread of his ideologies across the nation finally allowing him
to reach his goal of power and ruling when he was finally appointed the
Chancellor of Germany in January 1933. 

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