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The Victorious Democracies

The Victorious Democracies. The Interwar Period. The United States. Isolationism vs. Interventalism Avoiding future wars International Disarmament Conference (1922) Kellogg – Briand Pact (1928). The Undoing of the US. 1920’s – US the world power Technology boom, Wall Street bubble

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The Victorious Democracies

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  1. The Victorious Democracies The Interwar Period

  2. The United States • Isolationism vs. Interventalism • Avoiding future wars • International Disarmament Conference (1922) • Kellogg – Briand Pact (1928)

  3. The Undoing of the US • 1920’s – US the world power • Technology boom, Wall Street bubble • 1930’s – Crash, economic ruin • FDR’s New Deal (socialism in US)

  4. US in Control – 1920s • US is booming during the 1920s • Dawes Plan -

  5. What is a Depression? • A severe economic downturn • High unemployment • Low GDP (sum of all goods and services produced by a nation) • Consumer spending, investment spending, government spending, net exports

  6. The Reality of the Great Depression • Hundreds of banks close which wipes out billions in savings • In 1933 • 364,000 farms went bankrupt • GDP decreased by 40% • Unemployment Rate = 25%

  7. Stock Market Crash • Many investors margin buying • Bubble developed • Panic sell-off wiped out fortunes • 29 October 1929 • The Dow fell 40% and $30,000,000,000 lost • Banks Runs – banks out of money because of margin loans – banks fail

  8. A Depression Era Bank Run

  9. The Great Depression

  10. The Problem Feeds Itself • Products such as cars and ovens are durable goods (they last a long time) • As factories started to have a surplus of products, they started to lay off workers • National governments begin to raise tariffs on foreign goods to protect national production

  11. Unemployment

  12. Agricultural Overproduction • Farmers try to produce more to lower cost and spark demand • Nothing but huge surpluses of crops, not worth the money even to sell • Farmers lost huge amounts of money and some even burned their crops and poured out milk • EVEN AS PEOPLE STARVED!

  13. The Floundering Victors • England • Unemployment, war debts, Britain failing • Strikes (army sent in to clear, end up running industries) • Socialist Ramsey MacDonald PM • Many fear this is the start of communism…

  14. England • The Labour Party gains strength in gov’t, begins to move the country toward socialism • The “Irish Question”?

  15. The Irish Question • Sinn Fein – cultural revolution that become political • Break from Home Rule Party and tried to take Dublin during WWI • The Black and Tans – paramilitary group that forced the formation of the IRA • Solution: • 1922 – moderates in Ireland and Britain reached an agreement • Self-governing Irish Free State

  16. The Other “Winner”? • France • Physical/Economic and political ruin • 50% of all 18-32 year olds dead • Socialist Leon Blum new PM • Fascists rising… • Terrified of Germans, built the Maginot Line

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