1 July

At the beginning of July 1923, one dollar costs 160,400 marks. Inflation had risen so sharply due to the huge costs involved in fighting the occupation of the Ruhr. First, the German state must cover the remuneration and salaries of the civil servants and workers on strike and second, no taxes can be collected in the occupied and sealed-off region. The government also refrains from raising taxes and must resort to using foreign exchange reserves for buying coal. All of these factors accelerate inflation and it quickly becomes clear that the “passive resistance” policy cannot be sustained for long.
[Büttner, p. 780 / Kolb, p. 52]

11 July

According to official figures, the occupation of the Ruhr and “passive resistance” have resulted in 92 deaths so far. Additionally 70,000 people have been expelled from the area and 169 schools have been commandeered, affecting 50,000 school children.
[Overesch/Saal, p. 199]

30 July

A group of 30 members of the Reichstag belonging to the SPD group aligned with Paul Levi demand the resignation of the Cuno cabinet and refuse to support a coalition for now. Leaders of the ADGB also express a lack of confidence in the Reichskanzler at a joint meeting.
[Overesch/Saal, p. 200]