1931 Debt, Crisis and the Rise of Hitler

 

Title: 1931 Debt, Crisis and the Rise of Hitler

Author: Tobias Straumann

Publisher: Oxford University Press

PP: 240 including notes, credits and index

Price: £16.99

ISBN: 9780198816188

I opened this relatively short book with a touch of excitement, as the various components of the title are all subjects in which I have a continuing interest. I closed it with a touch of trepidation as the very last sentence, on page 208, sounds very much like a description of the current international situation in the so-called developed world.

At times, the book is a right rollicking read as it narrates the events from 1929 to 1931, paving the way for the political rise of Hitler. I had always had a vague idea that the WWI reparations imposed as part of the Versailles Treaty had a part to play in the prelude to WWII, but Tobias Straumann explains exactly why.

I did struggle on more than one occasion with the sheer volume of detail, and the bombardment of names and places, but as I was almost simultaneously watching a BBC2 TV series called The Rise of the Nazis, I gradually worked out who was who. And let’s face it, the same three or four names at the very top of the German political and social machine at that time will surely never be forgotten.

At times I found myself almost screaming at people who did not understand that one surefire way to ease the burden of debt is to spread it over such a long period that the payments barely register. One equally and oppositely way to ensure maximum pain is to do the opposite and make it short-term.

To be fair, at one point, a final repayment date of sometime in 1988 was suggested, but that gave troublemakers the opportunity to paint the German nation as being enslaved to the third generation. One man’s humane debt solution is another man’s infernal PR spin opportunity.

I would strongly recommend this book to anyone with an interest in finance, domestic, international and global, personal and institutional, and to anyone with an interest in socio-military catastrophes. For those meet in the middle of the Venn diagram, it is a must, and one that I will certainly be keeping on my own shelves for future reference.