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Responses to the Great Depression, 1929-1939

Responses to the Great Depression, 1929-1939. Democracy under Siege, 1929-1945 Kagan, Ch. 27 – pp. 775-781. What were the causes of the Great Depression?. US Stock market crash US call in short-term loans – hits German and Austrian banks hard

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Responses to the Great Depression, 1929-1939

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  1. Responses to the Great Depression, 1929-1939 Democracy under Siege, 1929-1945 Kagan, Ch. 27 – pp. 775-781

  2. What were the causes of the Great Depression? • US Stock market crash • US call in short-term loans – hits German and Austrian banks hard • US banks begin to fail – European banks begin to fail • Businesses unable to pay workers – massive lay-offs ensue (see Table 27.1)

  3. An answer to Depression • John Maynard Keynes • British economist • Encourages lending and government spending in order to stimulate economic growth • Roosevelt’s New Deal

  4. European Democracies’ Responses • Two Big Mistakes • Tried to balance budgets and limit spending • Higher taxes on imported goods = decline in international trade • Governments became more conservative • GB’s Ramsay MacDonald – Labour Prime Minister, BUT supported conservative fiscal policies = coalition government National Unity Government • Rise of Authoritarianism – Austria, Spain, Portugal

  5. Adolph Hitler • Lower-class Austrian with dreams of being an artist • 1914 volunteers for Germany army in WWI – wounded and decorated • Upset by Treaty of Versailles, still wants to serve for the good of Germany – joins National Socialist German Workers’ Party (Nazi) • By 1923 he is recognized as a valuable party member

  6. Beer Hall Putsch, 1923 • Failed attempt by Nazi Party to overthrow the Bavarian state government • Hitler arrested • Writes Mein Kampf • Aryan race and Lebensraumtheories are outlined

  7. Rise of Nazism • “Failures” of Weimar Republic • Political and economic instability • Growth of Nazi Party popularity • Charismatic leadership – Adolf Hitler • Simple Promises – restore Germany to its former glory; provide jobs and stable economy; crack down on “enemies” (communists, Jews, profit driven capitalists) of the state • Schutzstaffel (SS) unified group of body guards / followers • Pageantry, excitement, community • Nuremberg Rally – Triumph of the Will

  8. Hitler comes to Power • 1932 – Nazi Party – strongest party in Reichstag • 1933 Jan. - elected Chancellor • Feb. Reichstag fire = call for emergency powers of decree; outlaws the Communist Party • Enabling Act – Hitler given sole power (above the law) to make decisions of “national security”

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