world war i and the great depression timeline€¦ · resented treaty of versailles ... the great...
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World War I and the Great Depression Timeline
League of Nations
What did it do? Established the mandate system Mandates – former colonies/territories of
defeated Central Powers administered by mainly France and Great Britain.
Iraq, Palestine, Lebanon, and Syria are examples of mandate territories
Mandate System
League of Nations
Why did it fail? United States did not become a
member – US wants to “isolate” itself from Europe (isolationism)
L of N did not have the power to enforce its decisions
United States Wanted isolation from the rest of
the world. Dominant world economy after
WWI Led to economic “boom” =
immense prosperity. People borrowed money on credit
for goods and stocks.
Great Britain
Horrors of war deeply impacted British society and economy. Lost factory jobs to USA and Japan Labour Party (worker’s party) won
general elections in the 1920’s.
France
Devastated by WWI Economic hardship
High unemployment, gov’t nearly bankrupt
Political chaos No party could get a majority
Horrors of War 50% of men ages 18-32 killed in war
Italy
Resented Treaty of Versailles Did not give enough rewards to
Italy High unemployment and inflation Political and economic chaos led to
the election of Mussolini and his Fascist government in 1924.
Between the Wars: Global Depression & Dictatorships
Fasces Benito Mussolini
Germany Anger and Resentment over the Treaty of
Versailles. Weimar Republic - democratic gov’t
elected in 1919. Reparations caused economic hardships in
Germany Loans from the US led to a period of
relative prosperity in the 1920’s. But…Political unrest still occurs…
Rise of Adolf Hitler
Between the Wars: Global Depression & Dictatorships
Adolf Hitler Hitler - Parade
Russia
Lenin’s NEW ECONOMIC POLICY Changes name – now U.S.S.R Lenin Dies » Stalin in power 1st FIVE YEAR PLAN Industrialization Collectivization
Japan
After WWI – felt West did not treat it as an equal. Industrialization – need for raw
materials Wanted more control in China Increasingly nationalistic and
militaristic
The Stock Market Crash
Causes Overproduction in USA – prices go
down sharply Excessive dependence on credit to
buy goods and stocks – people cannot pay debts
High protective tariffs stifle world trade
The Stock Market Crash OCTOBER 1929
Banks call in loans People unable to pay off their credit
bills Stock prices tumble Businesses start to fail, laying off
workers RESULTS IN…
Run on the Bank
The GREAT DEPRESSION
WORLDWIDE effects Production of goods cut around the
world Prices, Salaries, and Wages fell
(Deflation) Many workers lost their jobs
13 million in the USA alone
United States Franklin D. Roosevelt elected Pres.
in 1932 NEW DEAL –Fed gov’t would spend
money, put workers back to work. Regulated banks, stock market Social security and unemployment
insurance
France
Fascists and Communists constantly battled for influence among workers 1934 – Socialist-led gov’t comes to
power Passed many laws that benefited
workers and farmers
Germany
1929 – Hitler appeals to German workers - He can bring back economic prosperity/German national pride (nationalism). 1930’s – NAZI’s win big in elections 1933 – Hitler is appointed
“Chancellor” or leader of the German gov’t
Russia
Results of the FIVE YEAR PLAN Rapid Industrialization Workers work for little, no pay Food is scarce Famine
1930’s - Great Purge – Stalin tries to “eliminate” his “enemies”
Japan
Japan dependent on US market – Great Depression in USA carried to Japan Millions unemployed, starving Military leaders promised stable
leadership and national pride (nationalism) Eyed imperial expansion in Asia