Post World War I

1
Post World War I

• Mr. Patten
• Mrs. Kempton

2
Post-War Problems

• Immediately after WWI the largest problem was
  finding jobs for returning veterans and
  rebuilding war-ravaged lands
• Many nations owed huge debts because they
  borrowed money to pay for war

3

• The Russian Revolution of 1917 unleashed fears of
  the spread of communism
• Europe lacked strong leadership

4
Pursing Peace

• The Kellogg-Briand Pact of 1928, signed by almost
  every independent county, renounced war an
  instrument of national policy.
• There was no way to enforce the Kellogg-Briand
  Pact. Also, The League of Nations was powerless
  and had been damaged by Americas refusal to join.

5

• In 1931, Japan invaded Manchuria but the League
  was too weak to respond.

Why would Japan want to invade Manchuria??
6
Recovery and Collapse

• During the 1920s Europe had made a shaky
  recovery.
• Economies returned to peace time manufacturing
  and trade
• Veterans gradually found jobs.
• Middle-class families found money to buy new
  products like cars, refrigerators and radios.

7

• The U.S. emerged from the war as the leading
  economic power.
• American banks and business controlled the global
  economy
• American loans and investments backed the
  recovery of Europe.

8
Global Economies
9

• There were weak spots
• Overproduction. Despite the slowing demands for
  goods, factories kept producing
• The Crash
• Investors in the U.S. bought stock on the New
  York Stock Exchange on margin. This meant that
  they borrowed money from brokers to pay for part
  of their stock purchases.

10

• In the fall of 1929 brokers called these loans
  and many were unable to repay. Financial panic
  set in. Stock prices crashed
• Because of the crash, American banks stopped
  making loans and demanded repayment.

11

• American banks and businesses closed, leaving
  many unemployed. These people couldnt afford
  goods, so more factories closed, which caused
  increase unemployment.

12

• The misery and hopelessness created fertile
  ground for extremists who promised radical
  solutions (ex. Hitler)

13
The Maginot Line

• The Maginot Line was massive fortifications built
  by France along the German border
• France insisted on strict enforcement of the
  Versailles Treaty and complete payment of
  reparations, hoping to weaken Germanys economy.

How will this effect Germany???