1. The World
in Prosperity
and Depresssion

2. Inter War Vocabulary
Reparations: To make amends (say you’re sorry) for doing something wrong. Sometimes involves paying money.
Inflation: A rise in prices because the increased volume (amount) of money has reduced the money’s value.
Stock Market: Where stocks (shares) and bonds are sold for a company’s value.
Depression: A constant economic recession in which a nation's Gross National Product (GNP) is falling. Marked by low production and sales, and a high rate of business failures and unemployment.

3. Inter War Vocabulary Tariff: A tax on imported goods.
Fascism: A governmental system led by a dictator having complete power. He forcibly suppresses opposition and criticism. Has control over industry & commerce, and emphasizes aggressive nationalism along with racism.
Collectivism: The political principle of centralized social and economic control, especially of all means of production.
New Deal Programs: Programs passed between in the USA under President Roosevelt (FDR). They were in response to the Great Depression and focused on the 3 R’s: Relief, Recovery, and Reform.

4. “Flying a kite made out of German Money”—1923
Why would children be wasting money like this?

5. Inter War in Europe European nations were in trouble after WWI.
Too much inflation of money  Loss of jobs and bad economies.
Germany felt like the Treaty of Versailles caused their economic problems.

6. Inter War in Europe
Famine and disease spread across Europe after WWI. As many people died of disease as in the war.
Cities had to be rebuilt after the war.
Railroads and roads had to be rebuilt.
Germany had to make huge monetary payments to France and England.
Lille, France; WW1Gallery
At the end of the war the US sold food to Europe. After a few years Europe began producing its own food again. How might this affect the US economy?

7. Reconstruction and Prosperity
After the war the US became the world’s greatest economy
Americans began buying consumer goods
Americans began buying cars
New appliances like toasters, vacuum cleaners, and refrigerators became available.
Many people began going to movie theaters and listening to the radio
Describe life in the 1920s based on this information.

8. Reconstruction and Prosperity
1920s Women received the right to vote in the United States and Britain.
The Socialist Party came to power in several countries.

9. The Great Depression
Stocks tumbled and no one could stop it. Banks began calling in their loans.
The entire world entered into a depression or economic downturn in which businesses fail and people are unemployed.
1929 Stock Market Crash started a chain reaction in the world’s economy.
As many as 40 million people were unemployed in the United States

10. What Factors Caused the Great Depression?
Loans and debts between Europe and America ensured that the recession spread
Stock Market and real estate speculation (borrowing money to make a quick profit)
No safety net for citizens such as unemployment insurance or social security
Poor reaction by world leaders such as tightening of credit, stopped spending, and cut off international trade.
Over production of consumer and agricultural products

14. Fascism

15. Characteristics of European Fascism:
The Rise of Fascism
Characteristics of European Fascism:
Nationalism: high value on nation
Unity of All Social Classes: single nation political party, opposed worker unions and strikes
All Powerful Leaders: strong leader best to represent the people
Extreme Militarism: used violence to defeat political opponents and prepared to use war to expand country
What are the positive and negative aspects of Fascism?

16. The Roots of Fascism
Anti-Semitism: Hatred of Jewish people. Jews were blamed for the problems in many countries.
Racism: Contempt for other races, strengthened by imperialism and spirit of nationalism.
Social Darwinism: Belief that all human groups compete for survival and that the stronger group has the right to succeed the weaker group.
Jews were forced to wear identification in Nazi Germany

17. The Old Order Collapses Germany
The republic was opposed by land owners, industrialists, military leaders, and professionals.
Kaiser Wilhelm II was forced from power after WWI and a democratic republic took over (Weimar Republic).
What affect did the Russian Revolution have on Germany after WWI?
They wanted a single leader because they feared the people might become socialist and what happened in Russia might happen in Germany.
They also blamed the republic for accepting the Treaty of Versailles

18. The Old Order Collapses U.S.S.R
Lenin established a totalitarian state in Russia
After his death, Joseph Stalin took over and began to eliminate all of his rivals.
Because of events in Russia, many European countries supported extreme anti-Communist leaders like Hitler and Mussolini.
He even starved the Ukraine into submission in 1928.
Opponents were sent to icy gulags (forced labor camp) in Siberia

19. The Old Order Collapses Italy
Communism frightened Italian industrialists, landlords, and other property owners.
Communism became popular in Italy after WWI.
Mussolini had a party newspaper, party organization, and his own private army. Once in power he passed laws controlling the press, abolished unions, used violence against his opponents, murdered opposition leaders, and established a totalitarian state.
The country had also experienced workers strikes and riots. Many citizens were tired of these and wanted a strong leader.
Fascists in Italy used the fear of revolution and desire for national glory to get Benito Mussolini into power.
Mussolini, a former socialist, used many Bolshevik practices while denouncing their ideas.

20. Rise of the Nazi (National Socialist) Party
Nazis Come to Power
They created their own army (Brown Shirts)
They beat up political opponents and Jews.
Hitler was elected Chief Minister of the republic.
The party used violence and murder to create chaos in the republic.
The Reichstag (government building) was burned in Berlin and blamed on the Communists.
Hitler declared martial law and established a dictatorship
Hitler blamed the Weimar Republic for the humiliation of the Treaty of Versailles.
He believed that the Aryan race was superior and should rule the world.
He called the Jews an evil race and blamed them for losing WWI. He also saw Communism as a Jewish plot to control the world.
Hitler’s Vision for Germany

21. Germany Under Nazi Control
Human Rights Violations: People were arrested and executed without trail. Rival political parties, unions, and independent newspapers were closed and replaced with pro-Nazi ones.
Economic Changes: Hitler made use of public works projects like building highways and military rearmament to secure full employment. Economic prosperity returned to Germany.
Persecution of Jews: Jews were thrown out of government jobs. Jews lost citizenship, were forced to wear yellow stars on their clothes, and were banned from marrying other Germans. Jewish shops were vandalized and synagogues were burned down. Jews were forced into special ghettos and concentration camps.
Secret Police: The Gestapo (secret police) arrested suspected opponents, who were thrown into concentration camps where they were mistreated, tortured, and killed. Dacahu, the first camp, opened in 1938.

22. Why Germans liked Hitler
1. Gave people jobs
2. Said that Germans were a superior race
3. Got rid of the humiliation of the Treaty of Versailles
4. Restored German military power
5. No opposition could speak out against him
How might things have been different if the press had been able to speak out in Russia, Italy, or Germany?