1. The Treaty of Versailles
“The Lost Peace”

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

3. Redrawn map of Germany

4. 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”

5. 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!

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

7. 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

8. 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

9. 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

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

11. 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

12. “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

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

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