The Great Depression

U.S. Stock Speculation

*Speculators inflate stock value.

The result was *unrealistic price levels which would cause the stock market to crash and begin the Great Depression

Global Economic Depression

stock market crash led to….Tariffs…Trade dropped 65%.....Every country suffered; some more than others

The Great Depression- *Global Depression (World-wide)

*High unemployment

*High inflation (overprinting of marks)

*Deficit Spending (Governments borrowing money)

Germany ends up with dictatorship

US-Democracy

Most of the democracies that were formed after WWI did NOT meet the needs of their citizens

Soup line in Chicago

FDR’s New DealFDR elected in 1932; *enacted the New Deal to try and help the U.S. out of the Great Depression.Large public works projects created new jobsGovernment gave financial aid to businesses and farmsLg. amounts of public money was spent on welfare and relief programs.Regulations imposed on the stock market and banking systems

More gov't involvement but w/in the context of traditional U.S. democracy (not socialist…) New Deal helped in stimulating the U.S. economy, but only WWII would truly end the Great Depression unemployed found jobs in munitions factories and the military

Impact of the New Deal

Economies fail

*Young Democracies do not meet the needs of the people

*Many people turn to totalitarian dictators to rule, but not America

The Great Depression- *Global Depression (World-wide)

Candidate 1 Candidate 2 Candidate 3

•Education – Some Secondary Schooling, through 9th grade.

•Religion – Love of his country, Christian.

•Career – Veteran of a World War, decorated twice for courage in battle, public speaker and leader of a large political party, wrote a best-selling book.

•Personal habits – Non smoker, vegetarian

•Negatives: Did some jail time as well.

•Single, no children

•Age - 44

•Education – Harrow School, and College Graduate of Royal Military School.

•Religion – Christian

•Experience – 2nd Lt. In an army regiment, experienced war veteran, Head of the nation’s Naval War Staff, Nation’s Minister of Finance, leader – in the House of Commons for 40 years, Nobel prize winner in literature.

•Married – 57 years, with 5 children

•Negatives: Drinks whiskey and smokes cigars. Known for his “liberal” politics.

•Age - 66

•Education – History degree from Harvard University, Graduate of Columbia Law School.

•Religion – Christian

•Career – NY Senator, Asst. Sec. Of the Navy, Governor of New York.

•Married – 40 years with 5 children

•Negatives – Paralyzed from the waist down, marital infidelity, drinks and smokes.

•Age - 50

Adolf Hitler Winston Churchill Franklin Roosevelt

•Education – Some Secondary Schooling, through 9th grade.

•Religion – Love of his country, Christian.

•Career – Veteran of a World War, decorated twice for courage in battle, public speaker and leader of a large political party, wrote a best-selling book.

•Personal habits – Non smoker, vegetarian

•Negatives: Did some jail time as well.

•Single, no children

•Age - 44

•Education – Harrow School, and College Graduate of Royal Military School.

•Religion – Christian

•Experience – 2nd Lt. In an army regiment, experienced war veteran, Head of the nation’s Naval War Staff, Nation’s Minister of Finance, leader – in the House of Commons for 40 years, Nobel prize winner in literature.

•Married – 57 years, with 5 children

•Negatives: Drinks whiskey and smokes cigars. Known for his “liberal” politics.

•Age - 66

•Education – History degree from Harvard University, Graduate of Columbia Law School.

•Religion – Christian

•Career – NY Senator, Asst. Sec. Of the Navy, Governor of New York.

•Married – 40 years with 5 children

•Negatives – Paralyzed from the waist down, marital infidelity, drinks and smokes.

•Age - 50

Four Totalitarian Dictators

Adolf Hitler

Ruler of Germany

“Dur Furher”

Mussolini

Ruler of Italy

“El Duce”-Newspaper

man

Joseph Stalin

Cruel ruler of Soviet Union

“Man of Steele”

Tojo

Military leader of Japan

Features of Totalitarian States

*Single Party Dictatorship State control of the economy*Secret Police and state terrorism*Censorship/Gov’t control of mediaUse of schools/media to indocrinate citizensUnquestioning obedience to single ruler

Joseph Stalin - Soviet Union

Command economy: gov’t makes all economic decisions

Five-Year Plans: *to develop heavy industry/catch up with the industrialized nations

Soviet Union

*Soviets less affected by the Great Depression because of the planned economy

Limited consumer goods led to shortages:housing, food,clothing,etc.

*Mass Murder in theSoviet Union*

The Great Purge: campaign of terror by Stalin to eliminating anyone who threatened his power.

Stalin had political prisoners executed

Orthodox leaders sent to labor camps; often die as a result

Setting the Stage in Germany

After WWI Germany blamed for starting WWI in the treaty of Versailles

The harsh conditions of this treaty will lead to the rise of Nazism in Germany

Setting the Stage in Germany

Weimar Republic – a weak democracy in Germany after WWI

The German government cannot solve Germany’s economic problems

German Reichstag

Adolf Hitler 1889-1945

He blamed the democratic leaders for surrendering to the Allies in WWI

*To gain support Hitler promised the German people he would withdraw from the League of Nations

Nazism

National Socialist German Workers’ Party, called Nazi for shortGerman form of Fascism supported by people in the middle and lower class

Adopted the swastika, or “hooked cross” as its symbol

Nazi Party

By 1930’s the Nazi party gained popularity1933 Hitler became Chancellor of Germany

Nazi Aggressions-

*1936-Hitler sent troops into the Rhineland

Nazi Aggressions

*1938-Hitler annexed Austria*1938-He demanded the Sudetenland (part of Czech.)

Munich Conference – Appeasement - 1938

Appeasement is giving in to a bully in hopes that he will no longer continue to threaten others;

*France and Britain Gave Hitler the Rhineland, Sudetenland and Austria on the promise that he would not expand Germany any more.*They thought if they appeased Hitler, he would stop

Nazi Aggressions

Six months later Hitler makes a treaty with the Soviet Union; non-aggression pacthe then took the rest of Czech. *1939- Appeasement fails & Germany invaded Poland-WWII begins in Europe

*Fascism

Political system that emphasized loyalty to its state and obedience to its leader.

*Extreme Nationalism: *glorified nation above individual

State dictates economic activities of individuals

Rule by one all-powerful dictator

Mussolini Comes to Power in Italy

Italians felt the democratic government they had was helpless to deal with their problems and were looking for a strong leader.*A newspaper editor and politician named Benito Mussolini promised to rescue Italy by reviving its economy and rebuilding its armed forces.Italy’s king let Mussolini form a new government and so Mussolini became “Il Duce”, the leader; came to power legally.The Fascist government was formed.

*An important reason for Japanese attacks on Manchuria and China was that they wanted to obtain natural resources for their industry

Japanese Imperialism

Going to War*Japan’s invasion of China in 1937 and the attack on Poland by Germany in 1939 were “catalysts” leading up to WWII beginning in Asia and Europe.