interwar years

1. Western Democracies
 Issues in Europe after World War I?
 Great Depression begin and spread?
 How did Britain, France, and the United
States try to meet the challenges of the
1920s and 1930s?

3. Postwar Issues
 Underlying
Problems
 Finding jobs for
returning vets
 Rebuilding
Europe

4. Postwar Issues
 Underlying
Problems
 Economic
problems lead
to social unrest
 Fear of the
spread of
Communism
 Socialism

5. Postwar Issues
 International Troubles
 WWI Peace settlements
 Europe lacked strong leaders

6. The Pursuit of Peace
 Locarno Treaties
1925
 Settled disputed
German
borders
 "spirit of
Locarno"

7. Locarno Treaties 1925
 Enabled Germany's admission into the
League of Nations
 Finally, Germany was being treated as a
friendly nation by its enemies.
 Though its ideals were good and its
promises were hopeful, the Locarno
treaties could not prevent World War II.

8. The Pursuit of Peace
 Kellogg-Briand Pact 1928
 US, France and Germany
 "renounce war as an instrument of
national policy"

9. The Pursuit of Peace
 Disarmament
 League of Nations

10. Obstacles to Peace
 No way to enforce ban on war
 League of Nations powerless

11. Recovery and Depression

12. Shares & the Stock Market
 ‘Shareholders’ can
sell their shares
 Prices
 change every day
 change no matter
how the company
is doing -
Speculation

13. Shares & the Stock Market
 Companies borrow
money
 Investors get a
share of the profit

14. Dangerous Imbalance
 Overproduction
 Low prices for goods
 Consumers benefit, farmers don't

15. Dangerous Imbalance
 High cost of manufacturing
 many could not buy goods yet more
were made

16. Dangerous Imbalance
 Crash and Collapse
 Margin Buying
 Buying stock with 10% down

17. Dangerous Imbalance
 Banks call in loans that can't be paid
 Banks fail business close,
unemployment soars

18. Re-Cap
Overproduction
Stocks of unsold goods
Demand falls
Profits Fall
People start to sell
shares
Panic.
CRASH!!CRASH!!

19. •Global Economy
•Huge war debts/
•American loans to Europe
•Widespread use of credit
•Overproduction of goods
•Industrial wages rise as farm
earnings fall
•NY stock market crash
•Unable to repay loans
•Banks demand repayment of loans
•American loans dry up
•No capital, businesses fail
•Vast unemployment and misery
•Loss of faith in capitalism and
Democracy
•Authoritarian leaders emerge
•Rise of fascism and Nazis
•Rise of social programs
•People blame scapegoats
•World War II begins
Long-Term Causes Immediate Causes
Immediate Effects Long-Term Effects

20. Dangerous Imbalance
 Global Impact
 Tariffs are raised
 Access to global market closed off
 Faith is lost in democratic governments.

21. Post War Britain
 Lost much overseas trade
 1926 General Strike
 Fear of Communism
 Coalition governments

22. Post War Britain
 Irish
Independence
 1916 Easter
Rising
 Push for
independence

23. Post War Britain
 1919 Revolution
 IRA
 1922 Irish Free State (southern
Ireland)

24. France Pursues Security
 Strongest power in Europe
 Less affected by Great Depression
 Could not solve financial problems
 No real strong leaderships

25. France Pursues Security
 Maginot Line
 Fortifications on
the German
Border
 Proved useless
against invasion

28. United States
 US economically strong after WWI
 Postwar Issues
 Red-Scare 1919-1920
 Limits to immigration
 Seek out radicals

29. United States
 The New Deal
 Economic and Social Programs
 Government regulations
 Government created jobs
 Social Security
 Governments now involved in economic life