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from 1914-1918 europes last overtrown. The first of the new goverment was form in russia 1917. the provitional government got to establish constitutional and democratic rule.but it had fallen to a comunist dictatorship.
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severe inflation set in. For example, in Berlin a loaf a bread cost loess than a mark in 1918, more than 160 marks in 1922 and some 200 billion marks by late 1923.
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Weimar Republic was setup in 1919,Weimars Republic is germany's new democratic government.It was named after the city where the national assembly met
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In the late 1920s, American economic prosperity loargely sustained the world economy
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Overproduction affected American farmes as well. As a result, a worldwide surplus of agricultural products dove prices and profits down.
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Germany recovered from the 1923 inflation. Dawes Plan provided for a $200 million loan from American banks to stabilize German currency. Put into effect in 1924, the Dawes Plan helped slow inflation
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In 1925, the two ministers met in Locarno, Switzerland, with officials from Belguim, Italy, and Britain. They signed a treaty promising that France and Germany would never again make war against each other. Germany also agreed to respect the existing borders of France and Belguim
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hopes raised by "spirit of Locarno" led to the Kellogg-Briand peace pact. Frank Kellogg arranged this agreement with France's Briand. Almost every country pledged "to renounce war as an instrument of national policy".
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By 1929 German factories were producing as much as they had before the war.
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The U.S economy weakened and the whole worlds economic system collapsed.
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American factories were turning out nearly half of the worlds industrial goods. Which led to enormous profits. The richest 5 percent of the population recieved 33% of all personal income. Yet 60% of all American families earned less than $2,000 a year. They were to poor to buy
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In 1929,New York City's Wall Street was the financial capital of the world. At Wall Street's New York Stock Exchange, optimism about th booming U.S. economy showed in soaring prices for stocks. To get in the boom, many middle-income people began buying stocks on margin.
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In September 1929, some investors began to think that stock prices were unnaturally high. They started selling their stocks, believing the prieces would soon go down.
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By Thursday, October 24, the gradual lowering of stock prices had becomean all-out slide downward.
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Prices plunged to a new low on Tuesday, October 29. A record 16 million stocks were sold. Then the market collapsed.
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In 1930, it was still heavily agricultural and less dependent on foreing trade.
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By 1932, Factory production had been cut in half. Thousands of businesses failed, and banks closed. Around 9 million people lost the money in their savings accounts when banks had no money to pay them.
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In 1932, in the first presidential election after the Depression had begun, U.S. voters elected Franklin Roosevelt.
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By 1933, one-fourth of all American workers had no job.
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In 1933, five coalination governments formed and fell. Many political leaders were frightened by the growth of antidemocratic forces both in France and in other parts of Europe.
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On March4, 1933, the new president sought to restore American's faith in their nation.
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By 1935, one million French workers were French unemployed. The economic crisis contributed to political instability.
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In 1936, moderates, Socialists, and Communists formed a coalition. The popular Front, as it was called, passed a series of reforms to help the workers. Unfortunately, price increases quickly offset wage gains. Unemployment remained high.
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By 1937, unemployment had been cut in half, and production had rised above 1929 levels. Britain avoided political extremes and preserved democracy.
