A Global Depression
Chapter 15.2
Choi Won Seok
Gi Hoon Song
Europe After War
Europe left bankrupt
after WWI
Countries outside
Europe such as
America and Japan
had better
conditions in
finances
New Democracies are unstable
(1914~1918)
Democratic parties
gained enough
power to overthrow
leaders
Kings, Queens,
monarchs, Emperors
were replaced
Coalition
Government
Weimer republic is weak
Germany’s newest
government
Divided into small
parties and big
parties and caused
many problems
Citizens’
unsatisfaction for
the government
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
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
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)
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
Cont’d
Chain of Doom- The rich and the
poor
Chain of Doom- Agriculture
Stock Market Crashes
Black Tuesday (1929)
Raising the price
Down fall of the stocks
Value of money decline
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
Cont’d
Countries outside US in depression
Europe, Asia, Latin America
Copper, tin, sugar are not in interest
World Responds to the Crisis
England’s National
Government
France’s Popular Front
Socialist Governments
finds solutions- Denmark,
Sweden, Norway
Cont’d
Recovery in the United States
Franklin D. Roosevelt
New Deal project
Stock markets and banks back on the track