15.2 a worldwide depression
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15.2 A Worldwide Depression. Ms. Bielefeld Spring 2012. Postwar Europe. Europe was bankrupt after WWI Monarchs & Emperors lose power & new unstable democracies are created Form coalition government—temporary, multi-party alliances Changes lead to instability. - PowerPoint PPT PresentationTRANSCRIPT
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15.2 A Worldwide Depression
Ms. BielefeldSpring 2012
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Postwar Europe Europe was bankrupt after WWI Monarchs & Emperors lose power &
new unstable democracies are created Form coalition government—
temporary, multi-party alliances Changes lead to instability
13th c. Cloth Hall & cathedral of Ypres, Belgium
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Same building…TODAY!
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Weimar Republic Germany’s democratic government formed in
1919 that’s very weak Inflation—value of money falls dramatically b/c of
over printing Hyperinflation—govt prints more money
businesses raise prices govt prints more money businesses raise prices etc. Eventually money becomes WORTHLESS
American loans help revive German economy Germany & France sign treaty pledging no more
wear
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Children using
stacks of money
as blocks
because they
couldn’t afford
toys & money
was the most
worthless thing
in the market
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German woman
feeding a stove
with currency
notes, which
burn longer
than the
amount of
firewood they
can buy.
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America’s Financial Collapse
Uneven distribution of wealth Overproduction & less demand Farmers struggle to pay loans & lose
land Stock market crash October 29,
1929--“Black Tuesday” Stock prices soar & people buy on credit
(they don’t really have the $) Stock market crashed & people lost their
money
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Images from the Great DepressionDorothea Lange photographed many and Is world-famous for it…look at their faces…Look where they lived…look at the dust!
The shack is called “hooverville” after thePresident Hoover who the blamed
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A car driving with its lights on during the day
A dust storm approaches
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On the way to California
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A farmer sifts the dust off the top of his dead crop
A young boy shielding his mouth and face from the dust
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The Great Depression
Long business slump of 1930s Marked by bank failure, loss of
savings, unemployment America’s economic problems create
problems in other countries World trade falls
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Confronting the Crisis Britain--Preserves democracy by avoiding political
extremes France—more self-sufficient than others & formed the
Popular Front to preserve democracy Denmark, Sweden, Norway—Socialist govt taxed the people
to help the community & it worked U.S.
Franklin D. Roosevelt—President during Depression & WWII
New Deal—FDRs program of gov’t reform to improve economy—Public Works, welfare, banking regulations
Smoot-Hawley Tariff Act (1930)—heavy taxes on goods imported into US to encourage buying American goods
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Try to read the signs!
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People standing outside the bank in Berlin trying to get their money!
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