World War I and the Great World War I and the Great Depression TimelineDepression Timeline

League of League of NationsNations

What did it do?What did it do? Established the mandate systemEstablished the mandate system Mandates – former Mandates – former

colonies/territories of defeated colonies/territories of defeated Central Powers administered by Central Powers administered by mainly France and Great Britain.mainly France and Great Britain.

Iraq, Palestine, Lebanon, and Syria Iraq, Palestine, Lebanon, and Syria are examples of mandate territoriesare examples of mandate territories

Mandate SystemMandate System

League of League of NationsNations

Why did it fail?Why did it fail?United States did not become United States did not become a member – US wants to a member – US wants to “isolate” itself from Europe “isolate” itself from Europe ((isolationism)isolationism)

L of N did not have the power L of N did not have the power to enforce its decisionsto enforce its decisions

United StatesUnited StatesWanted isolation from the rest Wanted isolation from the rest

of the world.of the world.Dominant world economy after Dominant world economy after

WWIWWILed to economic “boom” = Led to economic “boom” =

immense prosperity.immense prosperity.People borrowed money on People borrowed money on

credit for goods and stocks.credit for goods and stocks.

Great BritainGreat BritainHorrors of war deeply impacted Horrors of war deeply impacted

British society and economy.British society and economy.Lost factory jobs to USA and Lost factory jobs to USA and

JapanJapanLabour Party (worker’s party) Labour Party (worker’s party)

won general elections in the won general elections in the 1920’s.1920’s.

FranceFranceDevastated by WWIDevastated by WWIEconomic hardshipEconomic hardship

High unemployment, gov’t nearly High unemployment, gov’t nearly bankruptbankrupt

Political chaosPolitical chaos No party could get a majorityNo party could get a majority

Horrors of War Horrors of War 50% of men ages 18-32 killed in 50% of men ages 18-32 killed in

warwar

ItalyItalyResented Treaty of VersaillesResented Treaty of Versailles

Did not give enough rewards to Did not give enough rewards to ItalyItaly

High unemployment and inflationHigh unemployment and inflationPolitical and economic chaos led Political and economic chaos led

to the election of Mussolini and to the election of Mussolini and his Fascist government in 1924.his Fascist government in 1924.

Between the Wars: Global Between the Wars: Global Depression & DictatorshipsDepression & Dictatorships

FascesFasces Benito MussoliniBenito Mussolini

GermanyGermany Anger and Resentment over the Anger and Resentment over the

Treaty of Versailles.Treaty of Versailles. Weimar Republic - democratic Weimar Republic - democratic

gov’t elected in 1919.gov’t elected in 1919. Reparations caused economic Reparations caused economic

hardships in Germanyhardships in Germany Loans from the US led to a period Loans from the US led to a period

of relative prosperity in the of relative prosperity in the 1920’s.1920’s.

But…Political unrest still occurs…But…Political unrest still occurs… Rise of Adolf HitlerRise of Adolf Hitler

Between the Wars: Global Between the Wars: Global Depression & DictatorshipsDepression & Dictatorships

Adolf HitlerAdolf Hitler Hitler - ParadeHitler - Parade

RussiaRussiaLenin’s NEW ECONOMIC POLICYLenin’s NEW ECONOMIC POLICYChanges name – now U.S.S.RChanges name – now U.S.S.RLenin Dies » Stalin in powerLenin Dies » Stalin in power1st FIVE YEAR PLAN1st FIVE YEAR PLAN

IndustrializationIndustrializationCollectivizationCollectivization

JapanJapanAfter WWI – felt West did not After WWI – felt West did not

treat it as an equal.treat it as an equal.Industrialization – need for Industrialization – need for

raw materialsraw materialsWanted more control in ChinaWanted more control in ChinaIncreasingly nationalistic and Increasingly nationalistic and

militaristicmilitaristic

The Stock Market The Stock Market CrashCrash

CausesCausesOverproduction in USA – Overproduction in USA – prices go down sharplyprices go down sharply

Excessive dependence on Excessive dependence on credit to buy goods and credit to buy goods and stocks – people cannot pay stocks – people cannot pay debtsdebts

High protective tariffs stifle High protective tariffs stifle world tradeworld trade

The Stock Market The Stock Market CrashCrashOCTOBER 1929OCTOBER 1929

Banks call in loansBanks call in loansPeople unable to pay off People unable to pay off their credit billstheir credit bills

Stock prices tumbleStock prices tumbleBusinesses start to fail, Businesses start to fail, laying off workerslaying off workers

RESULTS IN…RESULTS IN…

Run on the BankRun on the Bank

The GREAT The GREAT DEPRESSIONDEPRESSION

WORLDWIDE effectsWORLDWIDE effectsProduction of goods cut Production of goods cut

around the worldaround the worldPrices, Salaries, and Wages Prices, Salaries, and Wages

fell (Deflation)fell (Deflation)Many workers lost their jobs Many workers lost their jobs

13 million in the USA alone13 million in the USA alone

United StatesUnited StatesFranklin D. Roosevelt elected Franklin D. Roosevelt elected

Pres. in 1932Pres. in 1932NEW DEAL –Fed gov’t would NEW DEAL –Fed gov’t would

spend money, put workers spend money, put workers back to work.back to work.

Regulated banks, stock marketRegulated banks, stock marketSocial security and Social security and

unemployment insuranceunemployment insurance

FranceFranceFascists and Communists Fascists and Communists

constantly battled for constantly battled for influence among workersinfluence among workers

1934 – Socialist-led gov’t 1934 – Socialist-led gov’t comes to powercomes to power

Passed many laws that Passed many laws that benefited workers and benefited workers and farmersfarmers

GermanyGermany1929 – Hitler appeals to German 1929 – Hitler appeals to German

workers - He can bring back workers - He can bring back economic prosperity/German economic prosperity/German national pride national pride (nationalism).(nationalism).

1930’s – NAZI’s win big in 1930’s – NAZI’s win big in electionselections

1933 – Hitler is appointed 1933 – Hitler is appointed “Chancellor” or leader of the “Chancellor” or leader of the German gov’t German gov’t

RussiaRussiaResults of the FIVE YEAR PLANResults of the FIVE YEAR PLAN

Rapid IndustrializationRapid IndustrializationWorkers work for little, no payWorkers work for little, no payFood is scarceFood is scarceFamineFamine

1930’s - Great Purge – Stalin tries 1930’s - Great Purge – Stalin tries to “eliminate” his “enemies”to “eliminate” his “enemies”

JapanJapan Japan dependent on US market Japan dependent on US market

– Great Depression in USA – Great Depression in USA carried to Japancarried to Japan

Millions unemployed, starvingMillions unemployed, starvingMilitary leaders promised stable Military leaders promised stable

leadership and national pride leadership and national pride ((nationalismnationalism))

Eyed imperial expansion in AsiaEyed imperial expansion in Asia