Interwar Period 1920s and 1930s

Outcomes and Global Effect of WWI Colonies’ participation in the war increased demands for independence End of the Russian Imperial, Ottoman, German, and Austro-Hungarian Empires Enormous cost of the war in lives, property, and social disruption

Treaty of Versailles Fighting in World War I ended with an armistice (cease-fire) on November 11 th, 1918 “The 11 th hour, of the 11 th day, of the 11 th month” An official peace treaty was not signed until the Treaty of Versailles of Terms of the treaty were very harsh on the losers, especially Germany who was seen as the belligerent (who started the fight) The treaty forced Germany to accept responsibility for the war and loss of territory. Germany was then ordered to pay full reparations for the war. The treaty forced limitations on the size of the German military. A League of Nations was created to keep peace throughout the world

League of Nations Originally created off President Wilson’s 14 Points speech outlining an international cooperative organization Established to prevent future wars The United States did not approve of the League of Nations and did not become a member Why do you think the United States did not become a member of the League of Nations?

League of Nations The League of Nations failed because: -The United States was not a member -League did not have power to enforce its decisions -Divisions existed among different nations after World War I -Strong isolationism among the democracies The United States did not join the League because: -Didn’t agree with or sign the Treaty of Versailles -Strong feelings of isolationism within Congress and the American public

Mandate System During WWI, Great Britain and France agreed to divide large portions of the Ottoman Empire in the Middle East between themselves Great Britain gained control over the lands that would later become: -Iraq -Transjordan -Palestine France gained control over the lands that would later become: -Syria -Lebanon The division of the Ottoman Empire planted the seeds for future conflicts in the Middle East (as seen in Africa)

Your Homework: Create a pneumonic device to help remember the mandate system

A Global Depression German reparations that led to high inflation: because Germany was required to pay for the cost of World War I, it printed large amounts of money to do this, causing the value of its currency to decline. Expansion of production capacities and dominance of the United States in the global economy High protective tariffs Excessive expansion of credit Stock Market Crash of 1929 European economies never recovered from WWI Causes of the Worldwide Depression, 1930s (Great Depression)

A Global Depression Runaway Inflation: Protective Tariff: Overproduction: Rapid rise in stock prices: Economics of the Depression As prices rise, the value of the currency declines; soon things become so expensive that people cut back on their buying, which leads to companies cutting back, which leads to layoffs of employees. When countries place high tariffs on imported goods, other countries retaliate, leading to a “tariff war.” As a result, jobs are lost in the import-export businesses. When companies overproduce, inventory accumulates and production is cut back, leading to layoffs of employees. When stock prices go up rapidly, buying stock increases until many stocks become overvalued and a panic occurs, dropping prices too quickly and wiping out many people’s investments.

A Global Depression COSTS: Dozen Eggs 18 Cents Peanut Butter 23 cents QT Clifton Toilet Tissue 9 cents for 2 rolls Camay Soap 6 cents bar Tooth paste 27 cents Bacon, 38 cents per pound Bread, white, 8 cents per loaf Ham, 27 cents can Ketchup, 9 cents Lettuce, iceberg, 7 cents head Potatoes, 18 cents for 10 pounds Sugar, 49 cents for 10 pounds Campbells Tomato Soup 4 cans for 25 cents Kellogs Corn Flakes 3 Pkgs 25 cents Mixed Nuts 19 Cents per pound Pork Loin Roast 15 cents per pound Sharp Wisconsin Cheese 23 cents per pound Average Wages: $8 - $15 per week Average Rent: $4 per month Average Utilities: $2 per month **By 1932 unemployment was at 25%

Germany

United States of America

Great Britain

Hyperinflation in Germany

What are some of the impacts/ results of the worldwide depression?

Results of the Depression High unemployment in industrial countries Bank failures and collapse of credit Collapse of prices in world trade Nazi Party’s growing importance in Germany; Nazi Party’s blame of European Jews for economic collapse Weakening of the democracies as they struggled to cope with the economic losses of homes Popularity of fascism and its relation to National Socialism

The Rise of Dictators Why was there a rise in totalitarianism and dictators after the depression? *In an economic crisis as severe as the worldwide depression, people will more likely turn to governments to solve problems; democracies are slow to react as public and legislative debates have to take place before action. *Germany felt humiliated because of the Treaty of Versailles, and Hitler offered to restore national pride to Germany. *Mussolini did the same for Italy. *A combination of postwar nationalist resentment and economic hardship allowed military dictatorships to rise in Italy, Germany, and Japan.