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The Great Depression

The Great Depression. Postwar Europe. Unstable new democracies Absolute rulers had been overthrown Too many political parties Very indecisive Authoritarian rule was being missed. The Weimar Republic. New German government Serious weaknesses No tradition of democracy Too many parties

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The Great Depression

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  1. The Great Depression

  2. Postwar Europe • Unstable new democracies • Absolute rulers had been overthrown • Too many political parties • Very indecisive • Authoritarian rule was being missed

  3. The Weimar Republic • New German government • Serious weaknesses • No tradition of democracy • Too many parties • Blame for the war and humiliation • Inflation • Didn’t increase taxes during the war • Printed money for debts • Dawes plan lent 200 billion dollars to help slow German inflation

  4. Financial Collapse • Flawed Economy • Overproduction vs. under consumption • Unpaid debts • Stock Market Crash • 1929 October 29, “Black Tuesday” • Investors lost everything • Unemployment rose • 1932, factory production got cut in half

  5. Global Depression • Americans withdrew their money from investments in Europe • High tariffs were placed on imported goods • Everything backfired

  6. Confronting the Crisis • The British • Elected a multiparty coalition “National Government” • Passed high tariffs • Increased taxes • Regulated currency • Slow but steady recovery • The French • More self sufficient than other countries • Heavily agricultural • Was able to preserve democracy even after failed attempts by various coalition groups

  7. Socialist Governments • Cooperative community action • massive public works projects • Raised pensions • Taxed all citizens • United States • New Deal • Public works • Financial help • Welfare and relief programs • Regulations on banking and the stock market

  8. Fascism Rises in Europe Fascism: militant political movement that emphasized loyalty to the state and obedience to its leader

  9. Fascism’s Rise in Italy • Mussolini • Upset over Paris Peace Conference • Depression led to social unrest • Democratic government seemed helpless • Benito Mussolini promised to restore the economy and strengthen the armed forces • October 1922, 30,000 fascists marched on Rome and demanded Mussolini be put in charge

  10. Il Duce’s Leadership • Il Duce (the leader) • Abolished democracy and outlawed all political parties except the Fascists • Secret police • Government censors

  11. Hitler Rises • Twice awarded the Iron Cross in WWI • Nazis • Wanted to overturn the Versailles Treaty • Miltlia, brown shirts • Was chosen as Fuhrer or the leader • Wanted to regain land • Depression led citizens to Hitler

  12. Hitler Becomes Chancellor • Turned Germany into a totalitarian state • Banned or imprisoned opponents • The Gestapo • Nazis took control of the economy • Outlawed strikes • Dissolved unions • Government control of business and labor • Constructed factories, built highways, manufactured weapons and served in the military

  13. Fuhrer is Supreme • Wanted control over every aspect of German life • Propaganda • Hitler Youth or League of German Girls

  14. War on the Jews • Hatred of Jews; Nazi ideology • Jews were used as scapegoats • Violence mounted • Kristallnacht “Night of the Broken Glass” • Mobs attacked Jews in their homes and on the streets and destroyed thousands of Jewish owned buildings • Started process of eliminating Jews from German life

  15. Other Countries Fall to Dictators • Hungary in 1919, Admiral Miklos Horthy • Poland 1926, Marshal Jozef Pilsudski • Yugoslavia, Albania, Bulgaria, and Romanian kings turned to stronger ruling

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