1. Interwar Years:
Libertyville HS

2. 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

3. 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

4. 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

5. 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

6. Interwar Years: Asia China
Last Emperor abdicated in 1916, leaving regional warlords ruling country
Encouraged by USSR, Chinese Communist Party started in 1925
Chiang Kai-Shek took over most of country while fighting war against Communists

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

8. 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 1930s
Member states = 44, including UK, France, Italy
But NOT USA, b/c Dems and GOP opposed it

9. 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

10. 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)

11. 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

12. 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)