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TheWesternDemocraciesintheInterwarYears KeyTerms • Isolationism–anationalpolicyofabstainingfrompoliticaloreconomic relationswithothercountries • Sanctions–anaction(i.e.economicrestrictions)takenbynationsworking togethertoforceanothernationtoobeyinternationallaws • Laissez-faireeconomics–theabsenceofgovernmentregulationinthe economy • Keynesianeconomics–thetheoriesofeconomistJ.M.Keynesregarding statecontroloftheeconomythroughmoneyandtaxation • Pacifism–apolicyofoppositiontowarandviolence • Appeasement–thepolicyofmakingconcessionstosatisfythedemandsof NaziGermanypriortoWWII U.S.Isolationism • ThecreationoftheLeagueofNationsafterWWIwasPresidentWilson’s maingoalattheParisPeaceConferencein1919 • Despitethisgreatachievement,WilsonfailedtogainsupportintheUnited States • TheAmericanSenaterefusedtoratifytheTreatyofVersaillesandrejected thebilltojointheLeagueofNations • Americawasanationofimmigrants,manyfleeingthecorruptionand hostilitiesofEurope • MembershipintheLeaguewasperceivedbymanyAmericansasbeinga permanenttietothecomplicatedaffairsofEurope • 1920-WarrenHardingandtheRepublicanPartywontheU.S.electionsina landslide • WoodrowWilsonwasnotevenre-nominatedtoleadtheDemocraticParty despitewinningtheNobelPeacePrize • Americareturnedtoapolicyofisolationism Mac’sPowerPoints 1 PostWWIEurope • Europewasphysically,economically,andpsychologicallyshatteredafter WWI • BritainandFrancebothstruggledwithincompetentgovernmentsand massivestrikesfromlabormovements • Bothcountriesmanagedtoresistthepoliticalextremesoffascismand communismthatwererisingacrossEurope • WesternEuropemanagedtostabilizethroughoutthe1920’sinlargepart duetoloansfromtheUnitedStates • Britain,France,andinparticularGermanywerelivingoncredit • Theshakyeconomicrecoveryonlyextendedtotheupperclasses,thelower classeswerebecomingincreasinglyembitteredandimpoverished • Germany’seconomywashitthehardestafterWWIduetomassivewar reparationsitwasforcedtopay • 1923–HyperinflationoccurredinGermany’seconomy,itscurrencywas worthless • Germany’sfragiledemocracy–theWeimarRepublic–wassavedbyhuge loansfromtheUnitedStates The“Roaring20s” • IntheUnitedStates,the1920’sappearedtobeaperiodofincrediblegrowth andprosperity • ArapidperiodofurbanizationoccurredasvastnumbersofAmericans movedtothecities • Theyhopedtobeapartofthewealthgeneratedbytheexpansionof America’sindustrialsector TheMythofthe“Roaring20s” • AnimageofAmericaatthistimeasaprosperous,perpetuallygrowing economybegantoemerge • Thisperception,buoyedbythepost-waroptimism,influencedthespending habitsofAmerica–itsgovernment,businesses,andcitizens • Thisperceptionofthe“Roaring20s”continuesinpop-culturetoday • Inreality,thewealthwasconcentratedinthehandsofafew • 5%ofAmericanshad33%ofthewealth • 70%ofthepopulationwasatorbelowthepovertyline • RatesofpovertyweremuchhigherinEurope • Thismythofprosperitymeantgovernments,companies,banks,and investorsmadepoorinvestmentdecisionsthatwoulddirectlycontributeto theGreatDepressionofthe1930s • Factoriesoverproducedgoodsmostcouldn’tafford • Banksloanedbusinesseslargeamountsofmoneybelievingthose businessesweresolid • Governmentsloanedothergovernmentsmoneybelievingitwouldbe paidback 2 Mac’sPowerPoints TheStockMarket • TheU.S.stockmarketrosesteadilythroughthe1920s • Attractedmanynewinvestorswithlittleexperienceininvestingbutwho believedeconomicgrowthwouldcontinue • Speculation–apracticewhereaninvestorbuysastockonlybecausethe expectationisitwillrisehigherratherthaninvestingbecauseitisagood business • Manyinvestorsboughtstockonmargin,notpayingfullpriceforthestock • Ifthestockgoesuptheinvestorcanpaythedifference • Ifthestockgoesdowntheinvestorhasnotonlylosttheirinvestment theynowowemoney StockMarketCrash • March25,1929–theFederalReservewarnedofexcessivespeculation – Steelproductionwasindecline – Theconstructionsectorwasslowing – Americanswereamassinghugedebts • Afterasmalldip,theStockMarketcontinuedtorisegaining20%between JuneandSeptember • October24–29,1929–TheStockMarketcrashedaspanickedinvestorssold offeverything • Thiseventheraldedthebeginningoftenyearsofeconomicdepression–the “Dirty30’s” • AmericabegancallinginitsdebtsfromothercountriesandtheGreat Depressionwouldspreadaroundtheworld TheGreatDepression • ThestockmarketcrashwasnotthecauseoftheGreatDepression • Botheventswerecausedbyaseriesofproblemsthatbeganinthe1920s • Furthereventsinthe1930smadetheGreatDepressionevenworse CausesoftheGreatDepression • Unequaldistributionofwealth–ThemajorityofthepopulationinNorth AmericaandEuropewerepoorandcouldnotaffordtobuytheproducts streamingfromthefactories • Over-productionofgoodsandservices–Factoriesandbusinesses expandedrapidlybelievingpeoplecouldaffordtheirproductswhenmost couldnot • Debtfuelledthegrowthofbusinesses–Bothbusinessesandindividuals borrowedmassiveamountsofmoneyandwentbustwhentheycouldn'tpay itback • Drought–Inthe1930stheNorthAmericanprairiesexperiencedtheworst droughtofthecenturywiththousandsoffarmerslosingtheirfarms 3 Mac’sPowerPoints • • Internationaltariffs–Governmentsaroundtheworldraisedtariffsto protecttheirownindustriesandworkersfurtherstranglingeconomic growth Governmentinaction–Initiallymostgovernmentsadoptedalaissez-faire approachbelievingifleftalonetheeconomywouldfixitself–itdidnot TheDustBowl • NogroupsufferedmorethanfarmersduringtheGreatDepression • DemandforNorthAmericancropssoaredduringWWI • Afterthewarthatdemandplummeted • Newfarmingtechnologiesincreasedagriculturalproductionsendingprices evenlower • Manyfarmerstookloansfromthebanktobuythesenewtechnologies(i.e. tractors) • Thelandwaspoorlyusedwithlittleunderstandingoftheecologyofthe region • 1934–thedroughtbeganandthewindsblewawayanytopsoilthat remained • TheFarmingindustrywasdevastatedasbanksforeclosed TheNewDeal • 1932–UnemploymentintheU.S.reached25% • 1933-FranklinDelanoRoosevelt(FDR)waselectedpresident • PromisedAmericansaNewDeal–acomprehensiveprogramof“relief, recovery,andreform” • TheAmericangovernmentinvestedheavilyinpublicwelfare,agriculture, publicutilities,housing,industry,andtransportation TheWorldDepression • MostgovernmentsdidnothavethemoneythattheU.S.hadtoinvestintheir economy • Americahadcalledinitsdebtsandthosegovernmentswereparalyzed • ModerategovernmentsacrossEuropewerecrippledandunabletodealwith thefinancialcrisis RiseofExtremism • The1930ssawariseofextremepoliticalmovementssuchasfascismand communismacrossEurope • Left-wingpoliticstraditionallyaredivided–communistandsocialistshad troublegainingpower • Right-wingpoliticstendtomoreeasilyunite–militaryandbusinessgroups supportedfascismunawareofhowextremefascistswouldbecome TheLeagueofNations • TheLeaguewassupposedtostopallfutureconflicts 4 Mac’sPowerPoints • • • • WoodrowWilsonbelievedglobalcollectivesecurityshouldbean internationalresponsibility Intheory,nonationwoulddareattackanotherforfearofviolating internationallaw,resultinginpunishmentorsanctions EnforcementwasthebiggestproblemandthefactthattheUnitedStates neverjoinedmadethisanevenlargerproblem TheLeaguehadthreetypesofsanctions: 1. MoralSanctions–Worldopinioncouldstopanation’saggressive nature 2. EconomicSanctions–Beingcutofffromsuppliesandresourceswas apowerfulnon-violentwaytopressureaggressivenations 3. MilitarySanctions–Directmilitaryinterventionwouldonlyworkif membernationscontributedforceswhichmostwerenotwillingtodo Manchuria1931 • Japanbecameincreasinglyaggressiveandmilitaristicduringthisperiod • 1931–JapanesetroopsoccupiedallthemaincitiesinManchuria,partof northernChina • ChinaappealedtotheLeagueforhelp • Afteralengthyinvestigation,theLeaguerecommendedJapanleaveChina • JapanrefusedandlefttheLeagueadoptinganexpansionbyconquestpolicy Ethiopia1935-1936 • Mussolini’sItalyinvadedEthiopiawiththeintentionofturningitintoan Italiancolony • EmperorHaileSelassieofEthiopiaescapedtoEuropeandbeggedtheLeague forhelp • TheLeaguethreatenedeconomicsanctionspromptingMussolinitothreaten war • TheLeaguebackeddownfurtherdemonstratingitsweakness U.S.Neutrality • IncreasinghostilitiesinEuropepromptedU.S.isolationismtobecomeofficial policy • August1935-TheU.S.NeutralityActensureditwouldnotbecomeentangled inforeignconflictsandprohibitedarmsdealswithnationsatwar • AmendmentstotheActcreatedloopholesFDRexploitedtoaidGreatBritain earlyinWWII TheLeagueofNations • TheU.S.wasneveramemberoftheLeague • Germanyjoinedin1926butHitlerwithdrewhiscountryin1933 • Japanalsowithdrewin1933 • TheSovietUnionjoinedin1934butwithdrewin1939 • Italywithdrewin1937 5 Mac’sPowerPoints • • • • • • • TheonlymajorpowersleftintheLeagueby1939wereGreatBritainand France GreatBritainandFranceweretheonlynationsleftintheLeaguetooppose aggressivenations BothweretooeconomicallyweaktoenforcetheLeague’sdecisions Nationswithmilitaristic,expansionistgovernmentssuchasItaly,Japan,and Germanytookadvantageofthis Hitler’sexpansionistaspirationswereencouragedbytheLeague’sapparent weakness 1936–HitlerorderedthearmytoreoccupytheRhinelandinviolationofthe TreatyofVersailles-TheLeaguedidnothing 1938–GermanyannexedAustriaasNazitroopscrossedtheborderandwere greetedbycheeringcrowds–thisalsowasinviolationoftheTreatyof VersaillesandtheLeaguedidnothing TheMunichAgreement • September1938–GreatBritainandFranceagreedtoallowHitlertotakethe SudetenlandregionofCzechoslovakia • InreturnHitlerpromisedtomakenofurtherdemandsforlandinEurope • TheMunichAgreementwassignedbyGermany,France,Italy,andGreat Britain–Czechoslovakiawasnotpresent • BritishPrimeMinisterNevilleChamberlainreturnedhomeanddeclaredthe MunichAgreementmeant“peaceforourtime” • March1939–GermantroopsoccupiedtherestofCzechoslovakiawithout firingashot–theLeaguedidnothing • HitlerheldthepacifistsofGreatBritainandFranceinuttercontempt Nazi/SovietNon-AggressionPact • TheSovietUnionwasexcludedfromtheMunichAgreement • StalingrewincreasinglysuspiciousthatBritainandFrance,inappeasing Hitler,wereturningGermany’sattentiontotheeast–andtheUSSR • Stalinwouldsignhisownnon-aggressionpactwithGermanyoneyearlater • TheNazi/Sovietpactshockedtheworld–StalinandHitlerhadbeensworn enemies • September1939–GermanyinvadedPolandwithoutfearofaSovietattack • BritainandFrancefinallydeclaredwaronGermany–Hitlerwasstunned • TheinvasionofPolandwasthestartofWorldWarII 6 Mac’sPowerPoints
