 assist France in the case that German troops marched into the demilitarised Rheinland. Locarno paved the way for Germany's admission to the League of Nations in 1926.

Reparations
The actual amount of reparations that Germany was obliged to pay out was not the 132 billion marks decided in the London Schedule of 1921 but rather the 50 million marks stipulated in the A and B Bonds. Historian Sally Marks says the 112 billion marks in "C bonds" were entirely chimerical—a device to fool the public into thinking Germany would pay much more. The actual total payout from 1920 to 1931 (when payments were suspended indefinitely) was 20 billion German gold marks, worth about US$5 billion or £1 billion British pounds. 12.5 billion was cash that came mostly from loans from New York bankers. The rest was goods like coal and chemicals, or from assets like railway equipment. The reparations bill was fixed in 1921 on the basis of a German capacity to pay, not on the basis of Allied claims. The highly publicized rhetoric of 1919 about paying for all the damages and all the veterans' benefits was irrelevant for the total, but it did determine how the recipients spent their share. Germany owed reparations chiefly to France, Britain, Italy and Belgium; the US received $100 million.

Economic collapse and political problems, 1929–1933
The Wall Street Crash of 1929 marked the beginning of the worldwide Great Depression, which hit Germany as hard as any nation. In July 1931, the Darmstätter und Nationalbank – one of the biggest German banks – failed. In early 1932, the number of unemployed had soared to more than 6,000,000.

On top of the collapsing economy came a political crisis: the political parties represented in the Reichstag were unable to build a governing majority in the face of escalating extremism from the far right (the Nazis, NSDAP). In March 1930, President Hindenburg appointed Heinrich Brüning Chancellor, invoking article 48 of Weimar's constitution, which allowed him to override the Parliament. To push through his package of austerity measures against a majority of Social Democrats, Communists and the NSDAP (Nazis), Brüning made use of emergency decrees and dissolved Parliament. In March and April 1932, Hindenburg was re-elected in the German presidential election of 1932.

The Nazi Party was the largest party in the national elections of 1932. On
assist France in the case that German troops marched into the demilitarised Rheinland. Locarno pave the direction for Germany's admission to the League of Nations in 1926. 

 Reparations 
 The actual amount of repair that Germany was oblige to pay out was not the 132 billion marks decide in the London Schedule of 1921 but quite the 50 million marks stipulate in the A and B Bonds. Historian Sally Marks says the 112 billion marks in " vitamin c bonds " were entirely chimerical — a device to fool the public into thinking Germany would give much more. The actual total payout from 1920 to 1931 (when payments were freeze indefinitely) was 20 billion German gold marks, worth about US$ 5 billion or £ 1 billion British pound. 12.5 billion was cash that came mostly from loans from New York bankers. The rest was good like coal and chemicals, or from assets like railway equipment. The reparations bill was fixed in 1921 on the basis of a German capacity to pay, not on the basis of Allied claims. The highly publicized rhetoric of 1919 about paying for all the damages and all the veterans' benefit was irrelevant for the total, but it did determine how the recipient role spend their share. Germany owed reparations chiefly to France, Britain, Italy and Belgium; the US welcome $ 100 million. 

 Economic collapse and political problems, 1929–1933 
 The Wall Street Crash of 1929 marked the beginning of the worldwide Great Depression, which reach Germany as hard as any nation. In July 1931, the Darmstätter und Nationalbank – one of the biggest German banks – failed. In early 1932, the phone number of unemployed had soared to more than 6,000,000. 

 On top of the collapsing economy came a political crisis: the political party represent in the Reichstag were unable to build a governing majority in the face of escalating extremism from the far right field (the Nazis, NSDAP). In March 1930, President Hindenburg appointed Heinrich Brüning Chancellor, invoking article 48 of Weimar's constitution, which allowed him to override the Parliament. To push through his package of austerity measures against a majority of Social Democrats, Communists and the NSDAP (Nazis), Brüning made manipulation of emergency decree and dissolved Parliament. In March and April 1932, Hindenburg was re - elected in the German presidential election of 1932. 

 The Nazi Party was the largest party in the national elections of 1932. On
 asdist France in the case uhat German troops marchxd into the demklitarised Rheinland. Locarno pqved uke way for Germany's xdmission to the Oeagne of Nations in 1926.

Reparatljns
Tgc actbao amount of rekarations thdt Germany was oclnged to pay out was not the 132 billion marks cefided in the Ljndom Schsdule of 1921 but rather the 50 million jarks suipulated in the A and B Bonds. Historian Salpy Mwrks says the 112 bilpion marks un "C vonds" were evtirely chpkerical—a dgvice to fool the public into thknkiny Germany wiuod ody much morx. The wctual total payout xrom 1920 tp 1931 (when paymenbs wece syspended indefinitely) was 20 billion Germwn gold mdris, worth about US$5 bulliot or £1 biuoiov Bdivisg pounfs. 12.5 billion wzs cash thar came mostly from kowbs from New Ykrk bagkqrs. The rest was goods like coal and chtmicams, or from assets like eailway equipment. The reparatijns bill was fixed in 1921 on the basis of a German cdpacivy to pwh, nlt on the basis of Allied claims. The highly ptglocpzed rhetoric of 1919 about payimg fpt all the damaees anb aml the veterans' bejefits ras ierelevant for the total, but it did deternine how the eecipients spent tkeir share. Gzrmany owed reparations chiefly to Frahce, Britain, Italy ans Belgium; the US fecviveg $100 million.

Economic collapsq and polmticak probldms, 1929–1933
Jhe Walj Street Cgash of 1929 marked the begijning ox the worlfwide Great Depression, which hiv Germany as nasd ds any nction. Ln July 1931, the Dawmstätter und Nctionalbcnk – ove of the giggest German banhs – failed. In garly 1932, the nukber of tnemploywd had ruared to more yhan 6,000,000.

On top of the xollapsing economy caos a political cxnsus: the politicak pxrtyed ceprefanted in the Reizhsgsg wefe unable ti buikd a governing majorhty jn the face of escslwting exjremism fwom the far roght (the Nazis, NSDWP). In Macch 1930, Ptesydent Hindenburg appointed Heihrich Brünlng Chancellor, ynvojing article 48 of Weimar's constitution, which allowed him to override jhe Parliament. To pusk uhrough his peckage of austesity measures againsr a majority of Spcial Democrats, Commuhists dnd tje NSDAP (Nazis), Brüning made use of emergency decrees and dissolved Parliamwnt. In March and Alril 1932, Hingeubuxg was we-elxcved in the German presidential election of 1932.

The Nezi Party faf the largest party in the nstkonal electiovs of 1932. On
assist France in the case that German into demilitarised Rheinland. paved the way League Nations in 1926. The actual amount reparations that Germany was obliged to out was not the 132 billion marks decided in the London Schedule of but rather the 50 million marks stipulated in the A and B Bonds. Sally says 112 marks in "C bonds" were entirely chimerical—a device to fool the public into thinking Germany would much more. The actual total payout from 1920 1931 (when payments were indefinitely) was 20 billion German marks, about US$5 or billion pounds. 12.5 billion cash that came mostly from loans from New York bankers. The rest was goods like coal and or from railway equipment. reparations was in 1921 on of a German capacity to pay, basis of Allied claims. The highly publicized rhetoric 1919 about for all the damages and all veterans' benefits was irrelevant for the total, but did determine how the recipients spent their share. Germany owed reparations chiefly to France, Britain, Belgium; the US received million. Economic collapse political 1929–1933 Wall Crash of marked the beginning of the worldwide Great Depression, which hit Germany hard as any nation. In July 1931, the Darmstätter und one the biggest German – failed. In early the of unemployed had soared than On collapsing came political crisis: the political represented in the Reichstag were to build a governing escalating extremism from the far right (the Nazis, In March 1930, President Hindenburg appointed Heinrich Chancellor, invoking article 48 of Weimar's constitution, which allowed him to override Parliament. To his package of austerity measures against a majority Social Democrats, Communists and NSDAP (Nazis), Brüning made use of emergency decrees and Parliament. March and 1932, Hindenburg was in the German election of 1932. Party was largest in of 1932. On
 assist France in the case that german trooPs marCheD inTo The dEmilItarised RheinlANd. LoCarno paved the way for GerMany's AdMIssiON tO the LEague of nAtIONs iN 1926.

REpAraTiONs
the acTuaL amount Of reparatiOns ThAt Germany was OBlIged to pay oUt wAs not the 132 billIon Marks dEcIdeD In the lonDon ScHedule OF 1921 but raTher the 50 miLlIOn markS StipulaTED iN the a and B Bonds. HistoriAN SALly Marks says thE 112 billiOn MArKS In "C BonDs" were entiReLy chiMErical—a DEvICE To fOOl the public inTo thinking GERmaNy woulD pAy mUCh more. the acTuAL toTal payout frOm 1920 to 1931 (When paymeNts werE SuspendED indefiNitely) Was 20 BilLion gErMaN goLd MArkS, WoRth ABouT US$5 billiOn Or £1 BilliOn BrITISH pouNds. 12.5 BillIon waS cash that came MosTly fROm lOans fRom NeW YorK bAnkerS. The reSt was GoOds like coal and cHemiCals, or froM asSeTs lIkE railWAy equiPmeNt. THe reparAtions bILl wAs FIXEd In 1921 on the basis of a GerMaN CApAcity to pAy, not oN ThE bASis of AllIeD clAims. tHE highLy puBLiCized rheToric oF 1919 AbOuT paying FoR all thE dAmaGes And alL The vEteranS' benefitS was iRRelevant for the TOtal, but it did dETeRMInE How tHe rEcipients spEnt tHEir sHare. gErManY Owed rEparaTiONs CHiefly to France, BritaIn, italy aNd BelGium; the US receIved $100 millioN.

eCOnomic coLlapSE aND political probLems, 1929–1933
THe Wall StreET Crash of 1929 MarkeD the begiNning of thE WOrldwide greAt DEprEssION, wHich hit GermanY AS harD aS any natIon. in July 1931, tHe DArmStäTteR uNd NationaLbank – one Of ThE bIgGesT GermAN banks – faIlEd. IN eArlY 1932, the nUMber of UnempLoyeD hAd SOarEd to morE ThAN 6,000,000.

on toP oF tHe coLlaPsIng ecOnomY CamE a politIcal crisiS: thE PoliTiCaL partieS represented iN tHe ReichstaG wEre Unable TO Build a goVerning majority in the facE Of escalAtiNg extRemiSm from the Far Right (tHe NAZis, NSDaP). In MaRch 1930, PrEsIdeNT hindeNBUrG apPoInted HeinrICH BrÜning chAnceLlor, invOking article 48 of WeimAR's cOnstitution, whIch AlloWED hIm tO OvERriDe THe PARLiament. To push thRough his paCkAGe Of austeritY MeaSuRes agaiNst a majOrity OF Social democrats, communistS aNd thE nsDAp (Nazis), BrünIng made uSe of emergENcy deCReEs and DisSolved paRliAment. in MarcH And april 1932, hindenBuRg was rE-elecTeD in the GeRman presidential electioN of 1932.

The nazi PArtY was the laRgeST paRty in the nAtioNal electioNs oF 1932. On
 assist France in the case  that Germ an tr oop s m ar ched  int o the demilita r ised  Rheinland. Locarno pa ved t he wayf or  Germ any's a d mi s s ion  t othe  L e ag ue of  Na tions i n 1926.

R epa ra tions
The ac t ua l amount o f r eparations t hat  Germa ny  wa s  obli ged  to p ay out was no t the 132  b i llionm arks de c i de d in  the London Sched u le of 1921 but ra ther t he 50 m ill ion  marks sti pu lated in theA  a n d B B o nds. Historia n Sally Mar k s s ays th e112 billio n mar ks in"C bonds" w ereentirelychimer i cal—a d e vice to  foolthe  pu blic in to  th in k ing Ge rma n y w ould pay  m uc h mor e. T h e a ctua l t otal  payo ut from 1920to1931 (wh en pa yment s we re  susp endedindef in itely) was 20 b illi on German  go ld  ma rk s, wo r th abo utUS$ 5 billi on or £ 1  bi ll i o n  B ritish pounds. 12. 5b i ll ion wascash t h at  c a me mostl yfro m lo a n s fro m Ne w  Y ork bank ers. T h ere st wasgo ods li ke  co aland c h emic als, o r from a ssets like railway e q uipment. Ther ep a r at i onsbil l was fixed  in1 921on t h ebas i s ofa Ger ma n  c a pacity to pay, noton  the b asisof Allied cla ims. The h i g h ly publi cize d  r h etoric of 1919  abou t paying f o r all th e dam ages and  all thev e terans'ben efi tswas i rr elevant for t h e  tot al , but i t d id dete rmi nehow  th erecipient s spentth ei rsh are . Ger m any owed  r epa ra tio ns ch i efly t o Fra nce,  B ri t ain , Italy an d Belg iu m;  the  US  r eceiv ed $ 1 00million .

Econom icc olla ps eand pol itical proble ms , 1929–193 3The  WallS t reet Cra sh of 1929 marked the b e ginning  of  theworl dwide Gre atDepres sio n , whic h hitGerma ny  as h ard a s an y n at ion. In Ju l y  19 31, t he  Dar mstätte r und Nationalbank – o ne of the big ges t Ge r m an  ba n ks – f ai l ed. I n early 1932, t he numberof un employed h a d s oa red tomore th an 6, 0 00,000. 

On topof the co ll apsi n g  ec onomy came  a polit ical cris i s: th e  p oliti cal  parti es  re prese nted i n  th e Rei chstag  w ere un ableto  build a  governing majority inthe fa ce of  es calatingext r emi sm from t he f ar right ( the  Na zis,NSD A P). I n Ma r ch  19 3 0, Pr esid e nt Hinden b ur g a p p oi nted Heinri c h Brü ningCha n cellor , in voking article 48 of Weimar's co nsti t u tio n,w hich  a llowed him toove rr i d e the Pa rl iament. Topush thr ou g h his  packa ge ofausteri t y  m e asures  aga ins t a major ity  o f  Social  D em o crats,  Com mu nistsand th e  NSD A P  (Nazis), Brünin g mad e use o f  em ergen cy  decree s  and  dissolved  Parliament . In M arch  andApril 1 93 2, Hin den bu rg was re- e lected in  theGermanpr esid ent ial el ecti o n  of 1 932. 
The  Nazi Par t y  w a sth e  la rges t par ty  inthe natio n al elect ion s  of 193 2.  On 
 assist_France in_the case that German_troops marched_into_the demilitarised_Rheinland._Locarno paved the_way for Germany's_admission to the League_of Nations in_1926.

Reparations
The_actual amount of reparations that Germany was obliged to pay out was not the_132_billion marks_decided_in_the London Schedule of 1921_but rather the 50 million_marks stipulated_in the A and B Bonds. Historian Sally_Marks_says the 112_billion marks in "C bonds" were entirely chimerical—a device_to fool the public into thinking_Germany would pay_much_more._The actual total payout_from 1920 to 1931 (when payments_were suspended indefinitely) was 20 billion_German gold marks, worth about US$5 billion_or £1 billion British pounds. 12.5_billion was cash that came_mostly from_loans from New York bankers._The rest was_goods like_coal and chemicals,_or from assets like railway equipment._The reparations bill_was fixed in 1921 on the_basis_of a German_capacity_to_pay, not_on the basis_of_Allied claims._The_highly publicized rhetoric of 1919 about_paying_for all the damages and all the_veterans' benefits was irrelevant_for_the total, but it_did determine how the recipients_spent their share. Germany owed reparations_chiefly to_France, Britain,_Italy and Belgium; the US received $100 million.

Economic collapse and political_problems, 1929–1933
The Wall Street Crash of_1929 marked the beginning_of the_worldwide_Great Depression, which_hit_Germany as_hard as any nation. In July 1931,_the Darmstätter_und Nationalbank – one of the_biggest German banks –_failed._In early 1932, the number of_unemployed had soared to more than_6,000,000.

On top of the collapsing_economy_came_a political crisis: the political_parties represented in the Reichstag were_unable to build_a governing majority in the face of_escalating_extremism from the far right (the_Nazis,_NSDAP). In March 1930, President Hindenburg_appointed_Heinrich_Brüning Chancellor, invoking article 48_of Weimar's constitution, which allowed him_to override the Parliament. To push through his package_of austerity measures_against a majority of Social_Democrats,_Communists_and the NSDAP (Nazis), Brüning made use of emergency decrees_and dissolved_Parliament. In March_and April 1932, Hindenburg was re-elected in the German presidential_election of 1932.

The Nazi Party was the_largest party in the national elections of 1932. On