on 13 august 1923, in the midst of the ruhr crisis, he was appointed chancellor and foreign minister of a grand coalition government. as chancellor, stresemann went a long way towards resolving the crisis. in the so-called year of crises (1923) he showed strength by calling-off the popular peaceful resistance at the ruhr. since germany was no longer able to pay the striking workers, more and more money was printed, which finally led to hyperinflation. hans luther, who was the current finance minister, ended this disastrous process by introducing a new currency, the rentenmark, which reassured the people that the democratic system was willing and able to solve urgent problems.