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A Global Depression

Chapter 15.2 explores Europe’s economic and political turmoil following World War I. The war left European nations in financial ruin, while countries like the US and Japan flourished. Newly established democracies faced instability, with political upheavals leading to the collapse of monarchies and the rise of weak coalition governments, particularly in Germany. The chapter also examines the effects of the Great Depression, highlighting the desperate measures taken by the US and Europe to recover. Notable figures like Charles Dawes and Franklin D. Roosevelt emerge as pivotal in the quest for economic stability.

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A Global Depression

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  1. A Global Depression Chapter 15.2 Choi Won Seok Gi Hoon Song

  2. Europe After War • Europe left bankrupt after WWI • Countries outside Europe such as America and Japan had better conditions in finances

  3. New Democracies are unstable(1914~1918) • Democratic parties gained enough power to overthrow leaders • Kings, Queens, monarchs, Emperors were replaced • Coalition Government

  4. Weimer republic is weak • Germany’s newest government • Divided into small parties and big parties and caused many problems • Citizens’ unsatisfaction for the government

  5. Inflation causes Crisis in Germany • Germany in huge debt due to Treaty of Versailles • Did not collect taxes, printed more money instead • Value of currency deflated

  6. Cont’d Attempt at Economical Stability • Charles Dawes, American Banker • Loans $200 million dollars to Germany • Brought positive results for both Charles Dawes and Germany

  7. Cont’d Effort at a Lasting Peace • German Foreign Minister: Gustav Stresamann • French Foreign Minister: Aristide Briand • Signed Peace Treaty • Kellogg- Briand peace act (failed)

  8. The Great Depression • World’s finances were balanced on American economies A Flawed US Economy • Gap between the wealthy and the poor • Overproduction • Lessening demands

  9. Cont’d • Chain of Doom- The rich and the poor • Chain of Doom- Agriculture

  10. Stock Market Crashes • Black Tuesday (1929) • Raising the price • Down fall of the stocks • Value of money decline

  11. A Global Depression Down fall in US influences other countries • European goods on high tariffs in USA • As a competition, other countries raised their tariffs • High prices makes trading rate descend

  12. Cont’d • Countries outside US in depression • Europe, Asia, Latin America • Copper, tin, sugar are not in interest

  13. World Responds to the Crisis • England’s National Government • France’s Popular Front • Socialist Governments finds solutions- Denmark, Sweden, Norway

  14. Cont’d Recovery in the United States • Franklin D. Roosevelt • New Deal project • Stock markets and banks back on the track

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