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Treaty of Versailles
On this date the Treaty of Verailles was signed. This was an agreement that several countries including France, Japan, U.S., Great Britain, and Germany made regarding the Great war. Although the war was already over this is the document that closed the process. -
Article 231
The "War Guilt Clause" was the article that listed what Germany had to pay for the war. They owed a lot of money and lost allies, took a hit to their military, as well as loss of land. -
British Difficulties
After the war it was hard for Britain to get back on it's feet because they had lost such a big portion of their ships for exporting goods. This in addition to raised taxes on imports from other countries hit the Britain economy. by this year 25 million were jobless -
Over Printing
In Europe there was a terrible case of hyperinflation, their monetary bills lost so much value, kids would use them to make kites or just play with stacks of money. -
Gold Standard
At this point, Winston Churchill changed the value of the pound back to gold standard and that made exports more expensive and Britain began to fire workers and lower wages. -
Black Thursday/Tuesday
The stock market in the U.S crashed causing lots of loss of confidence in consumers resulting in a slowed production from factories which then turned into the letting go of many employees. -
The Great Drought
In the U.S there was a large drought in the Southern Plains that also contributed to the American hardships, a lot of the farms were broken. They couldn't afford the taxes or the land, their cattle died, and they were losing money everyday. -
False Hope
Trying to bring hope to the nation U.S President Herbert Hoover claims that the worst is behind them when in reality the horrible Great Depression just began. -
Tariff Act
This was a tax that raised the tax on import goods. This hurt all the already hard to keep farms and businesses in the United States. -
New Deal
Roosevelt introduces the New Deal in an effort to get his country back on it's feet and eventually goes through with it when he get elected president of the United States. -
Unemployment
By this year the Great Depression hit an all time low in the United States, 15 million were unemployed and most of the banks had failed
