Wilhelm Carl Josef Cuno

Wilhelm Cuno received education as a lawyer in Berlin and Heidelberg. He was employed by the Reich Treasury Department in 1907. During World War I Cuno was involved in arrangements for food supplies for the German army, but quit civil service to join the Hapag shipping company in 1917. In December 1918 Cuno was promoted to the Hapag's general director. As an economic expert Cuno participated in the post-war negotiations on reparations and peace terms. The importance of his position as Hapag executive increased after the company became one of the leading shippers of goods between the U.S. and Germany. Informally representing the interests of the Reich government abroad, Cuno rejected several proposals to assume the post of foreign minister, but agreed to form the Cabinet after the resignation of Joseph Wirth. Cuno was appointed Reich Chancellor on 22 Nov 1922 and formed a government mostly composed of non-party economists and members of the German People's Party, Democratic Party, Center Party and Bavarian People's Party. The crucial event of the Cuno's administration was the Ruhr crisis, which broke out after the French and Belgian armed forces occupied the Ruhr in January 1923 to secure reparation payments. On 13 Jan 1923 Cuno called for "passive resistance" in the Reichstag, but within half a year German economy virtually collapsed. Under the circumstances of enormous inflation rates and workers' strikes, the Reichstag withdrew its support from the government and Cuno resigned on 12 Aug 1922. After the downfall of his government Cuno retired from politics and returned to the management of Hapag. Biography source: [1]