Class Notes (864,808)
CA (522,917)
WLU (18,807)
HI (512)
HI109 (96)
Lecture

7 The Roaring Twenties

4 Pages
129 Views

Department
History
Course Code
HI109
Professor
Alicia Mc Kenzie

This preview shows page 1. Sign up to view the full 4 pages of the document.
Description
January 30, 2014 1 THE ROARING 20s Fragile economic recovery in Europe - Dependent onAmerican investment ECONOMIC RECOVERY Initial post-war boom - Demand for consumer goods which had been absent during the war Hyperinflation and currency collapse - Collapse of German currency o Middle class had saved money and been respectable for their entire life  German middle and lower class willing to gamble with the Nazis  Treaty obligations resulted in national and personal bankruptcy Loans and reparations - Elites say economics are strong o But still fundamentally jobless American Capital - Floating the whole system, dependent onAmerican investment INITIAL POST WAR BOOM Anticipation of a return to normal - The promise of a country destined for heroes disappointed - Economy cannot revive HYPER INFLATION AND CURRENCY COLLAPSE Germany payments - Fall behind on payments - Cannot give coal to the French o French occupy Germany with military to extract coal o German workers don’t cooperate January 30, 2014 2  Won’t mine for them Collapse of Reichsmark - Germany pays workers even though they aren’t mining coal for the French - Has to print a ton of money with no backing Versailles treaty made Germany unable to cooperate with terms - Forced to work outside of the treaty to fulfill requirements - Recognize Bolshevik regime quite early, cooperate with them. Persistent Unemployment - Party of moderate socialist win an election in Britain - Considerable discontent with the working class - Soviet socialist propaganda o Sabotaging western imperial regimes American capital - French able to pay minimum payments to creditors in Britain andAmerica - German able to pay reparations - Get paid for intervention o No responsibility for diplomatic or military security REVOLUTION CONTAINED R
More Less
Unlock Document
Subscribers Only

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
Subscribers Only
You're Reading a Preview

Unlock to view full version

Unlock Document
Subscribers Only

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit