Interwar Years 1920 39 Interwar Years America America

Interwar Years: 1920 -39

Interwar Years: America § America had a lot of money! § Avoided the destruction that Europe experienced during WWI § Made a lot of money helping to rebuild Europe § Made massive loans to France, England & Germany § Why not Soviet Union? § Poised to become a world power § But isolationist urge strong

Interwar Years: Great Britain § At the end of WWI, the British Empire was at its greatest extent § They took over Palestine, Iran & Iraq from Ottoman Empire § BUT Britain was dramatically changed § 2. 6 million casualties § Women entered workforce § Inflation hurt people on fixed incomes

Interwar Years: France § 6. 97 million casualties § Political desire to avoid another war with Germany, at any cost § “Appeasement Policy” § France didn’t protest when Hitler violated the Versailles Treaty § Built Maginot Line along German-French border § Elaborate system of forts to protect against German attack

Interwar Years: Germany § Germany’s new government = Weimar Republic § Democratic republic with an elected president and parliament, the Reichstag § Government was blamed for losing WWI and the Versailles Treaty § Economic problems § Couldn’t pay war reparations § In 1923, France occupied Ruhr industrial region § But by 1928, Germany’s economy had recovered to 1913 levels

Interwar Years: Japan § After WWI, militarism, racism and nationalism became powerful forces in Japan § Began establishing their empire § Korea, 1904 -05 § German colonies in Pacific, WWI § Manchuria, 1931 § China invaded, 1937

League of Nations § Created out of Versailles Treaty § Goals § Disarmament § Prevent war through collective security § Settle disputes diplomatically § League had no military force of its own (Great Powers) § Incapable of preventing aggression, during 1930 s § Member states = 44, including UK, France, Italy § But NOT USA

Worldwide Economic Problems § Wages were not keeping up with inflation § Falling crop prices hurt Europe’s recovery § Economic Nationalism § Tariffs were high § That meant European countries couldn’t sell to US, each other § High inflation + high tariffs meant European countries couldn’t afford US goods

The Great Depression, 1929 -39 § Causes § Inflation (prices up) § Wage stagnation § High debt levels of individuals & business (interest payments) § Businesses began to fail = unemployment = less $ being spent = more business fail § International trade declined due to high tariffs § NY Stock Exchange collapsed on 10/29/29 (Black Tuesday)

Great Depression § Worldwide effect § Prices and wages plummeted § Unemployment skyrocketed § Germany stopped payments to allies § European countries stopped interest payments to US § US banks began closing as people demanded money from them

Effects of Great Depression § America raised tariffs, cut off Europe from loans § British raised tariffs, increased trade within Empire § French weren’t as industrialized, so less effect; but political unrest was high § Germany’s Weimar Republic died § Inflation made $ worthless; currency was worth more as bulk paper § Strengthened National Socialist German Workers Party (Nazis)

Results of the Interwar Years § Dictatorships rise to power during the 1920 s 1930 s § · people are desperate for strong leadership during the Depression § · Treaty of Versailles failed to establish lasting peace § 1922 Mussolini establishes fascist dictatorship in Italy § 1920 s Joseph Stalin's communist dictatorship in the Soviet Union (U. S. S. R. ) § 1931 Japanese establish militaristic fascist dictatorship