Notes 3 - 1918: A VENGEFUL PEACE Versailles Treaty only...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1918: A VENGEFUL PEACE Versailles Treaty only negotiated among winners o France, Great Britain, Italy, U.S. Punish Germany o Article 231 “War Guilt Clause” o Demilitarize Germany o Reparations = ½ of Germany’s GNP Versailles Treaty has no “teeth” o How/who will enforce o League of Nations U.S. never joins UNCERTAINTY AND ANXIETY Is the war over? What will post-war society look like? How can you create stable societies in nations that have lost so much? U.S. POST-WAR ECONOMIC BOOM Europe bought everything from U.S. STAGES OF AN ECONOMIC CRISIS 1. enthusiastic post-war spending housing automobiles durable goods 2. investment in stock market 3. over production of durable goods 4. worker layoffs because there is no need no income market takes a hit 5. sell stocks to recoup money 6. total value of market plummets THE CRASH OF OCTOBER/NOVEMBER 1929 before Great Depression THE GREAT DEPRESSION U.S. takes biggest hit of any country Value of market drops from $87 million to $30 million 15 million workers unemployed 5,000 U.S. banks collapse Bread and Soup lines--stand in long lines for little amounts of food A GLOBAL ECONOMIC CRISIS
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Germany reparations to France and Great Britain War debt to U.S. U.S. loans to pay reparations (Dawes Plan, 1924) U.S. calls foreign debt to stabilize economy = CRISIS 6 million Germans unemployed, ½ of working class 1 million French unemployed
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 6

Notes 3 - 1918: A VENGEFUL PEACE Versailles Treaty only...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online