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01 FROM A HARSH POST-WAR PERIOD TO THE ROARING TWENTIES, image, image,…
01 FROM A HARSH POST-WAR PERIOD TO THE ROARING TWENTIES
IDEOLOGIES OF THE POST-WAR PERIOD
Nationalism
Wilson's Fourteen Points
Self-determination for peoples from defeated empires
Second International dissolved
Socialist movement split
Communism appeared
October Revolution and birth of Soviet Union inspired revolutionary workers
Short-lived Hungarian Soviet Republic and Spartacist Revolt in Berlin
Democracy spread to newly independent countries
Suffrage extended to women
Weimar Republic in Germany
A DIFFICULT RECOVERY AFTER THE GREAT WAR
Major economic crisis (1918-1925)
Destruction and financial disorder
Currency devaluation
Low production rates
Unemployment
Social problems
Germany could not pay war reparations imposed by Treaty of Versailles
France occupied Ruhr Valley
German economic crisis worsened
Inflation rose to 1 billion percent in 1923
Economic and moral ruin
Ended hyperinflation with help from United States
THE ROARING TWENTIES
League of Nations established in 1919
Promoted peaceful, open, and balanced diplomacy
France occupied Ruhr Valley
United States never joined League of Nations
Germany and Soviet Union were admitted later
Pact of Locarno (1925) signed by seven European countries to recognise borders drawn after World War I
Germany allowed to join in 1926
Recovery of economy
Production levels improved
New currency created in Germany
Applied deflationary policies
United States emerged even stronger from Great War
Development of industry
Increased exports
Credit granted to Europe to rebuild continent
Financial operations on stock market
Financial operations on stock market
