1. World War I and the Great Depression Timeline

2. League of Nations What did it do? Established the mandate system
Mandates – former colonies/territories of defeated Central Powers administered by mainly France and Great Britain.
Iraq, Palestine, Lebanon, and Syria are examples of mandate territories

3. Mandate System

4. League of Nations Why did it fail?
United States did not become a member – US wants to “isolate” itself from Europe (isolationism)
L of N did not have the power to enforce its decisions

6. United States Wanted isolation from the rest of the world.
Dominant world economy after WWI
Led to economic “boom” = immense prosperity.
People borrowed money on credit for goods and stocks.

7. Great Britain
Horrors of war deeply impacted British society and economy.
Lost factory jobs to USA and Japan
Labour Party (worker’s party) won general elections in the 1920’s.

8. France Devastated by WWI Economic hardship Political chaos
High unemployment, gov’t nearly bankrupt
Political chaos
No party could get a majority
Horrors of War
50% of men ages killed in war

10. Italy Resented Treaty of Versailles
Did not give enough rewards to Italy
High unemployment and inflation
Political and economic chaos led to the election of Mussolini and his Fascist government in 1924.

11. Between the Wars: Global Depression & Dictatorships
Fasces
Benito Mussolini

12. Germany Anger and Resentment over the Treaty of Versailles.
Weimar Republic - democratic gov’t elected in 1919.
Reparations caused economic hardships in Germany
Loans from the US led to a period of relative prosperity in the 1920’s.
But…Political unrest still occurs…
Rise of Adolf Hitler

13. Between the Wars: Global Depression & Dictatorships
Adolf Hitler
Hitler - Parade

14. Russia Lenin’s NEW ECONOMIC POLICY Changes name – now U.S.S.R
Lenin Dies » Stalin in power
1st FIVE YEAR PLAN
Industrialization
Collectivization

18. Japan After WWI – felt West did not treat it as an equal.
Industrialization – need for raw materials
Wanted more control in China
Increasingly nationalistic and militaristic

20. TURNING
POINT
The Stock
Market
Crash

21. The Stock Market Crash Causes
Overproduction in USA – prices go down sharply
Excessive dependence on credit to buy goods and stocks – people cannot pay debts
High protective tariffs stifle world trade

23. The Stock Market Crash OCTOBER 1929 Banks call in loans
People unable to pay off their credit bills
Stock prices tumble
Businesses start to fail, laying off workers
RESULTS IN…

24. Run on the Bank

25. The GREAT DEPRESSION WORLDWIDE effects
Production of goods cut around the world
Prices, Salaries, and Wages fell (Deflation)
Many workers lost their jobs
13 million in the USA alone

26. United States Franklin D. Roosevelt elected Pres. in 1932
NEW DEAL –Fed gov’t would spend money, put workers back to work.
Regulated banks, stock market
Social security and unemployment insurance

27. France
Fascists and Communists constantly battled for influence among workers
1934 – Socialist-led gov’t comes to power
Passed many laws that benefited workers and farmers

28. Germany
1929 – Hitler appeals to German workers - He can bring back economic prosperity/German national pride (nationalism).
1930’s – NAZI’s win big in elections
1933 – Hitler is appointed “Chancellor” or leader of the German gov’t

31. Russia
Results of the FIVE YEAR PLAN
Rapid Industrialization
Workers work for little, no pay
Food is scarce
Famine
1930’s - Great Purge – Stalin tries to “eliminate” his “enemies”

32. Japan
Japan dependent on US market – Great Depression in USA carried to Japan
Millions unemployed, starving
Military leaders promised stable leadership and national pride (nationalism)
Eyed imperial expansion in Asia