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01 FROM A HARSH POST-WAR PERIOD TO THE ROARING TWENTIES, Garazi García…
01 FROM A HARSH POST-WAR PERIOD TO THE ROARING TWENTIES
THE IDEOLOGIES OF THE POST-WAR PERIOD
Nationalism gained support
Wilson’s Fourteen Points
recognised the right to self-determination of peoples from defeated empires
new states emerged
The Second International was dissolved
the socialist parties didn't share the same opinion about the War
The socialist movement split
the ideology of communism appeared
accepted by revolutionary socialists and some anarchists
A DIFFICULT RECOVERY AFTER THE GREAT WAR
The first years of the post-war were marked by an economic crisis.
destruction and financial disorder
led to
low production rates
currency devaluation
unemployment
social problems
1923
Germany couldn't pay war reparations imposed by the Treaty of Versailles
To guarantee the payment, France occupied the Ruhr Valley
(Germany’s main mining and industrial region)
worsened the German economic crisis
led the German government to circulate huge amounts of paper money
it was not backed by equivalent deposits of gold or silver
Inflation
rose to 1 billion percent
It managed to get out of hyperinflation with help from the United States
THE ROARING TWENTIES
League of Nations was established
1919 to promote peaceful, open and balanced diplomacy
first post-war period
international relations were very tense
was shown by the French occupation of the Ruhr Valley
The United States never joined the League of Nations
Germany and the Soviet Union were admitted later
Pact of Locarno
signed by seven European countries
to recognise the borders drawn after World War I and promised to respect them
Germany was allowed to join in 1926
recovery of the economy
Production levels improved
Germany created a new currency and applied deflationary policies
reduced hyperinflation
the United States emerged even stronger from the Great War
prosperity of the United States
due to
the development of industry
increased exports
the repayment of credit given to Europe during the conflict and, after the conflict, to credit granted to Europe to rebuild the continent
financial operations on the stock market
people had access to consumer goods
following ‘the American way of life’
such as household appliances and cars
not spread to Europe until after World War II
Garazi García Antruejo
