March 7 & 8 Define blame.

Have you ever been blamed for something? How did that make you feel?

Impact of the Treaty of Versailles on Germany

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1.Excluded Germany from the League of Nations 2.Took away its territories 3.Severely restricted the size of their military 4.Prohibited them from making or importing any war material 5.Forbade them to have any submarines or air force 6.Blamed Germany for 100% of war (“War Guilt”) 7.Forced them to pay $33 billion to the allied nations over a 30 year period. Treaty of Versailles’ Effect on Germany

Some people felt the Treaty of Versailles was too harsh on Germany.

Treaty of Versailles Caused…Inflation! To pay for the war, Germany decided to print more money. –As the money lost its value, they printed more and more. It then cost more and more to buy the same goods

One Loaf of Bread mark160 marks200 billion marks Inflation is an increase in the price you pay for goods. It is the decline in the purchasing power of money.

Money Became Totally Worthless This caused the Germans to think their democratic government (the Weimar Republic) was also worthless. U.S. loaned Germany $2 billion to help with their economy in the 1920s.

Only the U.S. and Japan had come out of the war in better financial shape than when they had gone into it. Neither had to fight on its own soil.

European Dynasties Were Overthrown From 1914 to 1918 the remaining absolute rulers in Europe had been overthrown. The Hapsburg, Romanov, and Ottoman dynasties/empires all ended. Democratic governments began popping up everywhere.

Depression = severe economic crisis

Tariff = tax on imported goods supposed toprotect Tariffs were supposed to protect American farmers and manufacturers from foreign competition… …BUT…they didn’t!! Tariffs reduced the flow of goods into the US and prevented other countries from buying American goods. The bottom line – tariffs made it harder to trade HIGH PROTECTIVE TARIFFS

speculation buying on margin ignoring risk unrestrained buying and selling People bought goods that they couldn’t afford on credit

1.The Stock Market was the most visible symbol of American prosperity. 2.In the 1920s stock prices rose steadily. 3.Economists warned the people about the weakness of the economy.

Early September 1929: Stock prices peaked then fell and confidence begins to waver. October 24, 1929: The market takes a plunge. Panicked investors unload their shares. October 29, 1929: The Stock market crashes! Shareholders frantically tried to sell their stocks before prices went even lower. (16.4 million shares were traded)

Black Tuesday October 29, 1929 Black Tuesday

Safari Montage - People's Century The Saga of World War II - Breadline: The Great Depression at Home

Impact of the Worldwide Depression

High Unemployment in Industrialized Countries25% in the United States

Bank failures and collapse of credit.

Many people lost faith in their democracies during the Great Depression, some turned towards Fascism & Nazism. Hard times make democracy & capitalism seem silly

Fascism = government that emphasizes loyalty to the state and obedience to its leader. National Socialist German Workers party “Nazi” Based on totalitarianism & belief in racial superiority.

The importance of the Nazi Party grew in Germany. The Nazi Party blamed European Jews for the economic collapse.

Faces of Totalitarianism Fascist ItalyNazi GermanyCommunist Soviet Union Benito Mussolini Adolf Hitler Joseph Stalin

Hitler’s Rise to Power Read the article Answer the questions (1-7) in your journal Complete the Propaganda poster assignment. This is due at the beginning of next block!