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In the cabinet of Wilhelm Cuno, Oeser became "Reichsminister des Innern" (interior minister) in November 1922. As a staunch democrat and republican, Oeser was a firm supporter of the Weimar Constitution. During the Occupation of the Ruhr, Oeser hoped for France to incur material losses through a devaluation of the franc. He supported the policy of passive resistance, despite the damaging effect it had on the German economy, thinking it might be used not just to end the "Ruhrkampf" but also to achieve a revision of the much-despised Treaty of Versailles.