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 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 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 The Russian Revolution of 1917 unleashed fears of the spread of communism Europe lacked strong leadership 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. 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 America’s refusal to join. There was no way to enforce the Kellogg- Briand Pact. Also, The League of Nations was powerless and had been damaged by America’s refusal to join.

5. In 1931, Japan invaded Manchuria but the League was too weak to respond. 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 1920’s Europe had made a shaky recovery. During the 1920’s 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. The U.S. emerged from the war as the leading economic power. American banks and business controlled the global economy American banks and business controlled the global economy American loans and investments backed the recovery of Europe. American loans and investments backed the recovery of Europe.

8. Global Economies

9. There were weak spots There were weak spots –Overproduction. Despite the slowing demands for goods, factories kept producing The Crash 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 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. Because of the crash, American banks stopped making loans and demanded repayment.

11. American banks and businesses closed, leaving many unemployed. These people couldn’t afford goods, so more factories closed, which caused increase unemployment. American banks and businesses closed, leaving many unemployed. These people couldn’t afford goods, so more factories closed, which caused increase unemployment. Unemployment No one is buying goods Factory Closes

12. The misery and hopelessness created fertile ground for extremists who promised radical solutions (ex. Hitler) 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 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 Germany’s economy. France insisted on strict enforcement of the Versailles Treaty and complete payment of reparations, hoping to weaken Germany’s economy. How will this effect Germany???