Wilhelm Cuno

Wilhelm Carl Josef Cuno (2 July 1876 – 3 January 1933) was a German businessman and politician who was the chancellor of Germany from 1922 to 1923 for a total of 264 days. His tenure included the beginning of the occupation of the Ruhr by French and Belgian troops and the period in which inflation in Germany accelerated towards hyperinflation. After beginning his career in the civil service, Cuno helped organize Germany's food supply during the early years of World War I before he went to work for the Hamburg America shipping company in 1917. Because of his economic expertise, he was involved in a number of important post-war negotiations with the victorious Allies. When he was appointed chancellor of Germany in November 1922, he formed a "business ministry" made up primarily of men who were, like himself, political independents. His plans to handle the war reparations issue and stabilise the currency were derailed by the French and Belgian occupation of the Ruhr in January 1923. Cuno instituted a policy of passive resistance and provided financial assistance to the workers and firms affected by it. The payments, made possible primarily by printing money, began the runup to the German hyperinflation of 1923. After his government resigned in August 1923, Cuno returned to the Hamburg America Line.