Gustav Stresemann
In 1923, the The name given to the German republic between 1919 and 1933. was on the verge of collapse socially and economically. This was due to a chain of events that happened after the German government failed to make a reparations payment on time. But surprisingly, this crisis was followed by a period of relative stability and success. The period 1924-1929 was a time when the Weimar economy recovered and cultural life in Germany flourished.
This dramatic turnabout happened in large part because of the role played by Gustav Stresemann who became In the Weimar Republic, the Chancellor was the head of the government, appointed by the President. in August 1923 during the hyperinflation crisis. This was a time when prices in Germany went up quicker than people could spend their money and the German currency lost its value. Stresemann was Chancellor for only three months but continued to serve, thereafter, as Foreign Minister, rebuilding and restoring Germany鈥檚 international status until his death in October 1929, ironically just weeks before the In October 1929 share prices on the Wall Street stock market in New York crashed, helping to cause the Great Depression. that would end Weimar鈥檚 period of greater prosperity and stability.
Gustav Stresemann's Nobel Peace Prize speech