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24.1 The Search for Stability

24.1 The Search for Stability. Europe after World War I. I. Treaty of Versailles. conditions regarding Germany war guilt reparations loss of military power new nations (see next slide) – a buffer zone between Germany & the USSR Alsace-Lorraine given back to France. League of Nations

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24.1 The Search for Stability

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  1. 24.1The Search for Stability Europe after World War I

  2. I. Treaty of Versailles • conditions regarding Germany • war guilt • reparations • loss of military power • new nations (see next slide) – a buffer zone between Germany & the USSR • Alsace-Lorraine given back to France

  3. League of Nations • the U.S. did not join the League – even though Wilson proposed it • opposition to Article 10 in the League Covenant, which potentially committed member nations to military actions without a declaration of war • the U.S. signed separate peace treaties with the Central Powers • weakened the League and damaged its credibility

  4. II. Problems in Germany • Problem #1 – Government • the German monarchy had ended with World War I • Weimar Republic – the new democratic govt. of Germany • a parliamentary system • multi-party system, leading to coalition govts. • president: Paul von Hindenburg (WWI military hero) • foreign minister: Gustav Stresemann (1923-1929) • established a new German currency

  5. Problem #2 – Anger • feelings of betrayal – “stab in the back” theory • harshness of Treaty of Versailles

  6. Problem #3 – Reparations • France wanted to cripple Germany & insisted upon payment • Allied Reparations Commission (1921) • Decided how much Germans had to pay • Germany forced to pay 132 billion marks ($33 billion) • annual payments of 2.5 billion marks • Germany made the payment in 1921, but ceased to make the payments in 1922

  7. Problem #4 – Inflation • Definition – rise in prices • influenced by political instability in the Weimar Republic • made it difficult for Germany to pay back its debts • Germany’s solution – print more money . . . which made the currency nearly worthless

  8. III. Solutions • The Dawes Plan (1924) • reduced the German reparations • set up a payment schedule on a sliding scale • arranged for Germany to receive private loans from the United States • Germany would pay reparations to GB & France • France & GB would then repay their debts to the U.S. • increased American financial investment in the Germany economy

  9. Treaty of Locarno (1925) • between Germany & France (negotiated by Stresemann & Briand) • formalized the borders between Germany, France & Belgium • Stresemann & Briand won the 1926 Nobel Peace Prize for their efforts • the “spirit of Locarno” gave Europeans a sense of security & stability

  10. Germany joined the League of Nations in 1926 • Kellogg-Briand Pact (1928) • Sec. of State Frank B. Kellogg (U.S.) & foreign minister Aristide Briand (France) • “condemned and renounced war as an instrument of national policy” • signed by 63 nations • nothing was said if pact was violated

  11. the League Covenant did not require nations to reduce their military forces • AND – the Great Depression led to increased instability in Europe and the United States • bank failures • high unemployment (25% in U.S. & GB; 40% in Germany) • John Maynard Keynes’ solution • deficit spending – governments should finance such projects even if it had to go into debt.

  12. IV. Govts. in France & GB • France was the strongest power on the European continent after WWI • formed the Popular Front government in June 1936 • a coalition of Communists, Socialists & Radicals • introduced the French New Deal • included collective bargaining rights for workers • 40-hour work weeks • minimum wage guarantees

  13. Great Britain initially faced high unemployment after WWI • had been unable to maintain their international markets during the war • the Labour Party & the Conservatives were the 2 dominant political parties • John Maynard Keynes’ economic theories • very influential to Franklin D. Roosevelt & the U.S. New Deal • 1922 – Great Britain granted the southern part of Ireland full autonomy • result of years of warfare • southern Ireland was predominantly Catholic

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