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THE WEST BETWEEN THE WARS, 1919 – 1939 THE FUTILE SEARCH FOR STABILITY & THE GREAT DEPRESSION Objective: Assess the significance of the war experience on global foreign and domestic policies of the 1920s and 1930s. Post-war era: neither stability nor prosperity • League of Nations: doomed by U.S. failure to join • Dawes Plan sparked brief period of prosperity in late 20s • Treaty of Locarno, 1925: new spirit of cooperation • Germany joined League of Nations in 1926 • Kellogg-Briand Pact, 1928: renounced war Dawes Plan Germany: economic & leadership woes • Weimar Republic: weak democracy • Hyper-inflation in Germany made money worthless • Depression paved way for fear & rise of Nazism Hyper-inflation in Germany France: devastated by war but better off than others • Troubled years: largely led by weak coalition governments • Foreign policy: avoid another war; Maginot Line Maginot Line Great Britain: lost position as leading economic power • Lost markets to the U.S. & Japan • John Maynard Keynes: advocated deficit spending The U.S. emerged in good condition but turned inward • Isolationism: Congress rejected League of Nations • Economic boom & bust in the 20s • Black Tuesday: 29 October 1929, stock market crash • The Great Depression: 25% unemployment; no direct relief • Franklin Roosevelt (FDR) became president in 1933 • The New Deal: active government intervention; “100 Days” • Social Security Act, 1935: old age pensions