Europe After War
Europe left bankrupt after WWI
Countries outside Europe such as America and Japan had better conditions in finances
New Democracies are unstable(1914~1918) Democratic parties
gained enough power to overthrow leaders
Kings, Queens, monarchs, Emperors were replaced
Coalition Government
Weimer republic is weak
Germany’s newest government
Divided into small parties and big parties and caused many problems
Citizens’ unsatisfaction for the government
Inflation causes Crisis in Germany
Germany in huge debt due to Treaty of Versailles
Did not collect taxes, printed more money instead
Value of currency deflated
Cont’dAttempt at Economical Stability- Charles Dawes, American Banker- Loans $200 million dollars to Germany- Brought positive results for both Charles
Dawes and Germany
Cont’dEffort at a Lasting Peace- German Foreign Minister: Gustav Stresaman
n - French Foreign Minister: Aristide Briand- Signed Peace Treaty- Kellogg- Briand peace act (failed)
The Great Depression
World’s finances were balanced on American economies
A Flawed US Economy- Gap between the
wealthy and the poor- Overproduction- Lessening demands
Stock Market Crashes Black Tuesday (1929) Raising the price Down fall of the stocks Value of money decline
A Global DepressionDown fall in US influences other countries European goods on high tariffs in USA As a competition, other countries raised
their tariffs High prices makes trading rate descend
Cont’d Countries outside US in depression Europe, Asia, Latin America Copper, tin, sugar are not in interest
World Responds to the Crisis
England’s National Government
France’s Popular Front Socialist Governments
finds solutions- Denmark, Sweden, Norway