ABSTRACT
IN Germany, despite the hollowness of the pretensions of democracy, violent mass-opposition to the Republic ebbed away after 1924 until the world crisis which began in 1929. The stabilisation of the mark, the regulation of Reparations in the Dawes Plan, led to an immense influx of foreign capital into Germany in the form of loans and private investmentthe foreign indebtedness of Germany in 1932 was still 19 milliards of marks. German industry expanded and built up a big foreign market Though unemployment remained relatively high-task-work was never abandoned in the whole post-War period, and occupied on an average at least 50,000 unemployed-wages rose considerably between 1924 and 1929, largely as the result of extensive strikes in 1928. In this year 691 strikes were engaged on as compared with about half that number in the years preceding and following 1928, the workers winning 187 completely, and gaining partial concessions in 304. In this period of abundance of capital, local and central authorities entered on that spectacular campaign of building which brought admiring visitors from all over the world. Hospitals, scientific institutes, railway-stations, public buildings of all sorts were built to meet modern requirements; and this increase in public wealth was one of the most positive achievements of the Republic. Under these conditions the Social-Democratic Party recovered some of its lost votes, so that in 1928 Hermann Müller, the Social-Democratic leader, became German Chancellor.
