The Treaty of Versailles “The Lost Peace”

Why did Germany agree to sign the Treaty? Allies naval blockade still in place, occupation of Rhineland Article 231 Reparations

Redrawn map of Germany

France’s goals – keep Germany too weak to ever threaten France again France’s industrial region devastated by war France had borrowed millions from the U.S. Seeking security “buffer zone”

Great Britain’s goals – punish, but let rebuild John Maynard Keynes – The Economic Consequences of the Peace Germany was Britain’s second-best market No navy!

U.S. (Woody Wilson) – 14 Points Self-determination League of Nations

Washington Naval Conference, 1921-’22 Five Powers Treaty – limited tonnage of naval vessels, using a ratio system U.S. and United Kingdom– 500,000 tons Japan – 300,000 tons France and Italy – 175,000 tons U.S. and U.K. needed navies in Atlantic and Pacific, others did not

Allied Reparations Commission 1921 – Germany would pay 132 billion marks annually ($33 million) 1922 – no payment made, announced 3- year moratorium Britain agreed, France did not

Here we go again! France responds by occupying Ruhr River Valley (80% of German coal and steel manufacturing) German govt. orders workers in Ruhr to stop working and passively rest French seal off entire Rhineland Most of 1923 – stand-off

Consequences Germany begins experiencing massive inflation French economy suffered due to expense of occupation of German territory and no payments

The Dawes Plan – 1924 Charles Dawes, American banker German reparations reduced U.S. banks loan money to Germany, Germany pays reparations to U.K. and France, which repay debts to U.S. Germany paid 1.3 billion in ‘27 and ‘28

“Spirit of Locarno” 1925 – agreements signed at Locarno, Switzerland Germany and France agree on borders Great Britain and Italy agree to fight against either Germany or France if either invades the other

Kellogg-Briand Pact - 1928 “outlawed” war as a tool of foreign policy Only acceptable use was for defensive purposes 62 nations signed

Isolationism Belief that the U.S. should not have gotten into the Great War, and that we should return to minding our own business