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To: Cronos

WIKI

The French indemnity was the indemnity the French Third Republic paid to the German Empire after the French defeat in the Franco-Prussian War in 1871.

The indemnity was 5 billion francs, with German troops occupying France until it was paid. The 5 billion gold marks, converted using the retail price index in 2011, was worth 342 billion. Converted using the GDP deflater it amounted to 479 billion and substantially more according to other comparisons such as GDP per capita. The indemnity was proportioned, according to population, to be equivalent to the indemnity imposed by Napoleon on Prussia in the Treaties of Tilsit in 1807.

The last payment of the indemnity was paid in early September 1873, two years before the deadline, and the German army of occupation was withdrawn in mid-September.

It was generally assumed at the time that the indemnity would cripple France for thirty or fifty years. However, the Third Republic that emerged after the war embarked on an ambitious programme of reforms: it introduced banks, built schools (reducing illiteracy), improved roads, increased railways into rural areas, encouraged industry and promoted French national identity rather than regional identities. France also reformed the army, adopting conscription.

In Germany the swift payment of the indemnity caused a stock market boom, along with an asset bubble in the form of a property boom. This lasted until the Panic of 1873 which ushered in the Long Depression until 1896.

https://en.wikipedia.org/wiki/French_indemnity


45 posted on 10/30/2024 9:09:27 AM PDT by Brian Griffin ("Base load affected facilities...must meet a second phase standard based on 90% capture of CO2" EPA)
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To: Brian Griffin

The difference is that mainland France was an industrial power, not an agricultural state


81 posted on 10/31/2024 2:56:13 AM PDT by Cronos
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