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