Great Britain and the Ruhr Crisis, 1923–1924

Abstract

When French and Belgian troops occupied the Ruhr in January 1923, ostensibly as a result of Germany falling behind schedule in the reparation deliveries of timber and telegraph poles, “something as far reaching in its effects as the declaration of war in 1914 or the conclusion of the armistice in 1918” had occurred. The often acrimonious Anglo-French debate over the interpretation of the Treaty of Versailles and the role of Germany in post-war Europe had reached a decisive stage. The British government, by not participating in the occupation, at last acted on its belief that an economic restoration of Germany was of paramount importance to the revival of the European and indeed world economies, while France grimly persisted in implementing the Treaty of Versailles by securing the Ruhr as a productive pledge. The ultimate French failure to enforce her will on Germany marked the end of French hegemony in Europe and the reemergence of Germany as a great power and a “central support” of the European economic system.