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Weimar Germany had greeted
with total horror the financial
punishment of Versailles. If
Germany had paid off the sum of
6,600,000,000, she would have
remained in debt to the Allies
until 1987 !! However, by signing
the Treaty of Versailles, she had
agreed in principle to the issue of
reparations and in 1921,
Germany just about managed to
pay its first installment of 2 billion
gold marks. Weimar Germany
was allowed to pay in kind
(actual materials) as opposed to
just cash. Most of this 2 billion
was paid in coal, iron and wood.
Citations:
--- Trueman, C. (2015, May 22). Hyperinflation and Weimar Germany - History Learning Site. Retrieved March 24, 2016, from http://www.
historylearningsite.co.uk/modern-world-history-1918-to-1980/weimar-germany/hyperinflation-and-weimar-germany/
--- Jung, A. (2009, August 14). Millions, Billions, Trillions: Germany in the Era of Hyperinflation - SPIEGEL ONLINE. Retrieved March 25, 2016, from
http://www.spiegel.de/international/germany/millions-billions-trillions-germany-in-the-era-of-hyperinflation-a-641758.html
--- Llewellyn, J. (2014). The 1923 hyperinflation. Retrieved March 25, 2016, from http://alphahistory.com/weimarrepublic/1923-hyperinflation/