Wilhelm Cuno

Wilhelm Cuno (born July 2, 1876, Suhl, Germany—died January 3, 1933, Aumühle) was a German politician and business leader, general director of the Hamburg-American Line, and chancellor of the Weimar Republic during the Franco-Belgian invasion of the Ruhr (1923).

Appointed government assessor in the German imperial treasury department (1907), Cuno subsequently served as a government adviser charged with drafting and presenting bills to the Reichstag (national parliament). During the first years of World War I, he headed the department of grain management (until July 1916), then served in the food ministry and, finally again, in the treasury department as general adviser on the war economy. Later, during the Armistice and peace negotiations, he represented his government as an economic expert. Following the suicide of shipping magnate Albert Ballin, Cuno succeeded to the direction of the Hamburg-American Line (December 1918), the largest German shipping concern, and in this position frequently acted as unofficial spokesman for German foreign political interests.

After twice refusing cabinet appointments in governments of the Weimar Republic, Cuno was finally persuaded to accept the chancellorship (November 1922). To this office he brought the advantages of a creditable international reputation and the strong support of German business and industry. His ministry nonetheless succeeded neither in securing a much-needed readjustment of war reparations nor in halting inflation. With the Franco-Belgian invasion of the Ruhr over defaulted reparations payments (January 1923), he urged a national policy of passive resistance, which, though proving successful in certain respects, ultimately taxed beyond endurance the resilience of an already crippled economy. After a vote of no confidence by the powerful Social Democratic Party, he was finally obliged to resign (August 1923). He returned to the board of Hamburg-American and in 1926 was again elected chairman.