A Global Depression

Chapter 15.2Choi Won SeokGi Hoon Song

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

Cont’d Chain of Doom- The rich and the poor Chain of Doom- Agriculture

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

Cont’dRecovery in the United States Franklin D. Roosevelt New Deal project Stock markets and banks back on the track