Monday April 23rd

The Stock Market has Crashed!

Years of Crisis

Chapter 31 Section 2

New Democratic Nations

Weimar Republic

• Germany’s democratic government– Germany lacked strong

democratic tradition– Several factions or

parties– Blamed for war and

postwar humiliation

Inflation in Germany

• Germany did not increase wartime tax

• Germany printed more money to pay for the war

• After the war, the mark, was worth almost nothing

For Example: Loaf of Bread

1918 – Less than a Mark

1922- 160 Marks

1923- 200 Billion Marks

Dawes Plan, 1923

• 200 Million Dollar Loan

• Goal was to stabilize German currency and strengthen its economy

• Set realistic schedule for Germany to pay off war reparations

Peace in Europe

• 1925, Germany and France met

• Signed treaty that they would never make war against one another

• Germany was admitted into the League of Nations

Kellogg-Briand Peace Pact

• Signed in 1928• Signed by almost every

country in the world• Pledged to “renounce

war as an instrument of national policy.”

Kellogg-Briand Peace Pact

US Economy

• The United States for the most part sustained the world’s economy

• The Stock market was thriving in the 1920’s in the US

Tuesday, October 29

• A record 16 million stocks were sold and the stock market crashed

• Many lost everything!

The Great Depression

• Businesses failed• Banks closed• Farmers lost their land• By 1933, one-fourth of

all American workers had no jobs

Unemployment Rates

• 1933- 25%

• From 1948-2010- 5.7%

• March, 2013- 7.6%

• Georgia- 8.4%

Global Depression

• US depression affected the world

• High tariffs decreased world trade by 65%

• Germany and Austria were particularly hard hit

Franklin D. Roosevelt, Elected 1932

“This great Nation will endure as it has endured, will revive and will prosper…let me assert my firm belief that the only thing we have to fear is fear itself----nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.”

The New Deal

• Program of government reform

• Government spending would help boost economy– Public work projects– Welfare and relief

programs– Reforming stock market

What do you think about government spending to

boost the economy?

Fascism in Europe

Chapter 31 Section 3

Setting the Stage in Europe…

Setting the Stage in Europe…

• Many are upset with the peace treaties after WWI

• Many are upset by the Great Depression• Many have lost faith in Democracy• Looking for something else to better the

economy and their government

Setting the Stage in Europe…

• Many are upset with the peace treaties after WWI

• Many are upset by the Great Depression• Many have lost faith in Democracy• Looking for something else to better the

economy and their government

FASCISM