the great depression. u.s. stock speculation * speculators inflate stock value. the result was *...
TRANSCRIPT
U.S. Stock Speculation
*Speculators inflate stock value.
The result was *unrealistic price levels which would cause the stock market to crash and begin the Great Depression
Global Economic Depression
stock market crash led to….Tariffs…Trade dropped 65%.....Every country suffered; some more than others
The Great Depression- *Global Depression (World-wide)
*High unemployment
*High inflation (overprinting of marks)
*Deficit Spending (Governments borrowing money)
Germany ends up with dictatorship
US-Democracy
Most of the democracies that were formed after WWI did NOT meet the needs of their citizens
Soup line in Chicago
FDR’s New DealFDR elected in 1932; *enacted the New Deal to try and help the U.S. out of the Great Depression.Large public works projects created new jobsGovernment gave financial aid to businesses and farmsLg. amounts of public money was spent on welfare and relief programs.Regulations imposed on the stock market and banking systems
More gov't involvement but w/in the context of traditional U.S. democracy (not socialist…) New Deal helped in stimulating the U.S. economy, but only WWII would truly end the Great Depression unemployed found jobs in munitions factories and the military
Impact of the New Deal
Economies fail
*Young Democracies do not meet the needs of the people
*Many people turn to totalitarian dictators to rule, but not America
The Great Depression- *Global Depression (World-wide)
Candidate 1 Candidate 2 Candidate 3
•Education – Some Secondary Schooling, through 9th grade.
•Religion – Love of his country, Christian.
•Career – Veteran of a World War, decorated twice for courage in battle, public speaker and leader of a large political party, wrote a best-selling book.
•Personal habits – Non smoker, vegetarian
•Negatives: Did some jail time as well.
•Single, no children
•Age - 44
•Education – Harrow School, and College Graduate of Royal Military School.
•Religion – Christian
•Experience – 2nd Lt. In an army regiment, experienced war veteran, Head of the nation’s Naval War Staff, Nation’s Minister of Finance, leader – in the House of Commons for 40 years, Nobel prize winner in literature.
•Married – 57 years, with 5 children
•Negatives: Drinks whiskey and smokes cigars. Known for his “liberal” politics.
•Age - 66
•Education – History degree from Harvard University, Graduate of Columbia Law School.
•Religion – Christian
•Career – NY Senator, Asst. Sec. Of the Navy, Governor of New York.
•Married – 40 years with 5 children
•Negatives – Paralyzed from the waist down, marital infidelity, drinks and smokes.
•Age - 50
Adolf Hitler Winston Churchill Franklin Roosevelt
•Education – Some Secondary Schooling, through 9th grade.
•Religion – Love of his country, Christian.
•Career – Veteran of a World War, decorated twice for courage in battle, public speaker and leader of a large political party, wrote a best-selling book.
•Personal habits – Non smoker, vegetarian
•Negatives: Did some jail time as well.
•Single, no children
•Age - 44
•Education – Harrow School, and College Graduate of Royal Military School.
•Religion – Christian
•Experience – 2nd Lt. In an army regiment, experienced war veteran, Head of the nation’s Naval War Staff, Nation’s Minister of Finance, leader – in the House of Commons for 40 years, Nobel prize winner in literature.
•Married – 57 years, with 5 children
•Negatives: Drinks whiskey and smokes cigars. Known for his “liberal” politics.
•Age - 66
•Education – History degree from Harvard University, Graduate of Columbia Law School.
•Religion – Christian
•Career – NY Senator, Asst. Sec. Of the Navy, Governor of New York.
•Married – 40 years with 5 children
•Negatives – Paralyzed from the waist down, marital infidelity, drinks and smokes.
•Age - 50
Four Totalitarian Dictators
Adolf Hitler
Ruler of Germany
“Dur Furher”
Mussolini
Ruler of Italy
“El Duce”-Newspaper
man
Joseph Stalin
Cruel ruler of Soviet Union
“Man of Steele”
Tojo
Military leader of Japan
Features of Totalitarian States
*Single Party Dictatorship State control of the economy*Secret Police and state terrorism*Censorship/Gov’t control of mediaUse of schools/media to indocrinate citizensUnquestioning obedience to single ruler
Joseph Stalin - Soviet Union
Command economy: gov’t makes all economic decisions
Five-Year Plans: *to develop heavy industry/catch up with the industrialized nations
Soviet Union
*Soviets less affected by the Great Depression because of the planned economy
Limited consumer goods led to shortages:housing, food,clothing,etc.
*Mass Murder in theSoviet Union*
The Great Purge: campaign of terror by Stalin to eliminating anyone who threatened his power.
Stalin had political prisoners executed
Orthodox leaders sent to labor camps; often die as a result
Setting the Stage in Germany
After WWI Germany blamed for starting WWI in the treaty of Versailles
The harsh conditions of this treaty will lead to the rise of Nazism in Germany
Setting the Stage in Germany
Weimar Republic – a weak democracy in Germany after WWI
The German government cannot solve Germany’s economic problems
German Reichstag
Adolf Hitler 1889-1945
He blamed the democratic leaders for surrendering to the Allies in WWI
*To gain support Hitler promised the German people he would withdraw from the League of Nations
Nazism
National Socialist German Workers’ Party, called Nazi for shortGerman form of Fascism supported by people in the middle and lower class
Adopted the swastika, or “hooked cross” as its symbol
Munich Conference – Appeasement - 1938
Appeasement is giving in to a bully in hopes that he will no longer continue to threaten others;
*France and Britain Gave Hitler the Rhineland, Sudetenland and Austria on the promise that he would not expand Germany any more.*They thought if they appeased Hitler, he would stop
Nazi Aggressions
Six months later Hitler makes a treaty with the Soviet Union; non-aggression pacthe then took the rest of Czech. *1939- Appeasement fails & Germany invaded Poland-WWII begins in Europe
*Fascism
Political system that emphasized loyalty to its state and obedience to its leader.
*Extreme Nationalism: *glorified nation above individual
State dictates economic activities of individuals
Rule by one all-powerful dictator
Mussolini Comes to Power in Italy
Italians felt the democratic government they had was helpless to deal with their problems and were looking for a strong leader.*A newspaper editor and politician named Benito Mussolini promised to rescue Italy by reviving its economy and rebuilding its armed forces.Italy’s king let Mussolini form a new government and so Mussolini became “Il Duce”, the leader; came to power legally.The Fascist government was formed.
*An important reason for Japanese attacks on Manchuria and China was that they wanted to obtain natural resources for their industry
Japanese Imperialism