HISTORY 2500 Chapter Notes - Chapter 4: World Disarmament Conference
16 Sep 2017
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Mid 1920s saw economic prosperity with flow of. Growth of world trade and re-establishment of gold standard would promote peace. Almost all european and global powers felt cold economic winds. Slow to recognize this depression was far worse than previous. Whole economy depended on agriculture, which was comparatively moving backwards. Reich government depended on american loans to underwrite budget deficits. France felt the effect not until the devaluation of. Bankers thought that only the politicians can save the situation. British had a devaluation of the pound, a world currency. All other countries were forced to devalue as well to be competitive. Last attempt of international cooperation of finance before outbreak of war. Some countries trying to move away from global markets and be self-sustaining a) Capital was moving to the creditor nations from the debt nations. Bankers, jews, gypsies, foreigners blamed for economic difficulties. Roosevelt exercised power never seen before, no threat of dictatorship.
