The Great Depression, History Notes 3 - Western Civilization II | HST 102 | Study notes Cultural History of Europe

The Great Depression

Economic Consequences of WWI

Structural oversupply- too many manufactured goods and food compared to what people can buy. The

increased production from the war continued.

Inflation (that led to deflation)- war brings inflation, the government always spends money they don’t

have

Excessive Deflation (return to gold standards)-same demand but more supply so the prices fall. There is

more paper money than there is gold to back it up.

Loss of Leader- England is the usual leader but they couldn’t do it this time.

What does a “leader” do?

-Lender of last resort

-Accepter of distress goods (free trade)

-Maintain low interest rates

Wartime and post-war inflation in Germany- had to send reparations to many other countries including France

and England.

1914 $1.00 = 4.2 marks

1/1923 $1.00 = 1800 marks Complete breakdown of monetary system

9/1923 $1.00 = 4.2 trillion marks

There was a government sponsored strike, but eventually just gave up and paid.

Worldwide recession by 1928- the year before the stock market crashed. Everything is just stopping and there is

a huge retraction in employment.

Crash of NY Stock Market, October 1929

-1929-32: world industrial production declines by 1/3

-30 million people lose jobs worldwide

-15 million in US

- World prices drop 30%

What to do in a mess like this? - Deal with it quickly, Give people money.

Bruening/Hitler- Germany has the exact same monetary problem. Bruening was a good guy, kept trying to keep

the budget balanced like Hoover.

Hoover/Roosevelt- US presidents that dealt with depression. Hoover was president when the stock market

crashed, said that we just needed to keep the budget balanced at all times. Roosevelt somewhat fixed it.

John M. Keynes- Englishman, economic genius of the day.

General Theory of Employment, Interest and Money, 1935- became Bible of economics. Helps you to

understand the demand side of economy. Included charts, graphs, and number. Very complex.

The Rise of the Nazis

Adolf Hitler (1889-1945) –born in Austria, not German. Lower middle class, his father was a drunk and beat him,

his mother was devoted to him. He wanted to be an architect, but couldn’t find work. Tried to enlist in Austrian

army but was rejected. Joined German Army, won bravery medals, and was injured in gas attack. He didn’t seem

like a leader.

Bavaria (Munich)- met up with many others like him. Felt like

National Socialist German Workers’ Party (NSDAP):Nazis – Hitler didn’t found it, but quickly became leader.

Beer Hall Putsch, 1923- randomly wanted to take over the town hall. Didn’t do anything, they were arrested.

Mein Kampf 1924- wrote while in jail for above.

“fürher”

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The Great Depression Economic Consequences of WWI Structural oversupply- too many manufactured goods and food compared to what people can buy. The increased production from the war continued. Inflation (that led to deflation)- war brings inflation, the government always spends money they don’t have Excessive Deflation (return to gold standards)-same demand but more supply so the prices fall. There is more paper money than there is gold to back it up. Loss of Leader- England is the usual leader but they couldn’t do it this time. What does a “leader” do? -Lender of last resort -Accepter of distress goods (free trade) -Maintain low interest rates Wartime and post-war inflation in Germany- had to send reparations to many other countries including France and England. 1914 $1.00 = 4.2 marks 1/1923 $1.00 = 1800 marks Complete breakdown of monetary system 9/1923 $1.00 = 4.2 trillion marks There was a government sponsored strike, but eventually just gave up and paid. Worldwide recession by 1928- the year before the stock market crashed. Everything is just stopping and there is a huge retraction in employment. Crash of NY Stock Market, October 1929 -1929-32: world industrial production declines by 1/ -30 million people lose jobs worldwide -15 million in US

World prices drop 30% What to do in a mess like this? - Deal with it quickly, Give people money. Bruening/Hitler- Germany has the exact same monetary problem. Bruening was a good guy, kept trying to keep the budget balanced like Hoover. Hoover/Roosevelt- US presidents that dealt with depression. Hoover was president when the stock market crashed, said that we just needed to keep the budget balanced at all times. Roosevelt somewhat fixed it. John M. Keynes- Englishman, economic genius of the day. General Theory of Employment, Interest and Money, 1935- became Bible of economics. Helps you to understand the demand side of economy. Included charts, graphs, and number. Very complex. The Rise of the Nazis Adolf Hitler (1889-1945) –born in Austria, not German. Lower middle class, his father was a drunk and beat him, his mother was devoted to him. He wanted to be an architect, but couldn’t find work. Tried to enlist in Austrian army but was rejected. Joined German Army, won bravery medals, and was injured in gas attack. He didn’t seem like a leader. Bavaria (Munich)- met up with many others like him. Felt like National Socialist German Workers’ Party (NSDAP):Nazis – Hitler didn’t found it, but quickly became leader. Beer Hall Putsch, 1923- randomly wanted to take over the town hall. Didn’t do anything, they were arrested. Mein Kampf 1924- wrote while in jail for above. “fürher”

Weimar Germany- Working pretty well 1924-1928 start to go into depression In 1929: Nazis have 12 seats in Reichstag – not very many the first time Election of 1930: they receive 107 seats – tons now, because unemployment shot up to 7%, people are worried and think maybe Nazis can fix it. By 1932: Nazis are largest party January, 1933, Hitler becomes Chancellor (prime minister) Nuremberg Laws, 1935- These were the laws made specifically for Jews. You were considered jewish if you had even one Jewish grandparent. It’s about blood, not what you have done or how you live. Jews were no longer citizens, they were not allowed to fly the flag, they could not participate in the arts, they could not publish anything or working in hospitals and banks. Etc. Krystallnacht, Nov 1939- “The night of broken glass”. This was a government organized riot. They released the Hitler youth to terrorize the Jews. A few were killed but they mostly just destroyed property. You might think that Jews would leave the country but no other country was accepting. Hitler and the Coming of WWII Hitler’s revisionist foreign policy 1936: Rhineland- France was on the other side of Rhineland from Germany. After WWI it was demilitarized, but Germany now remilitarized it against the treaty from the Congress of Vienna. France did not stand up to fight because they were divided and they’re population was going down while Germany’s was rising. Axis Treaty with Italy- Italy was under Mussolini, and even though it had been on the other side in WWI, they made a treaty with Germany. This was called the Rome- Berlin Treaty. Anti-Comintern Pact with Japan- Japan had also been on the other side during WWI, but now they had a very militaristic government and were they were both against communism. Spanish Civil War, 1936-9- One side supported by Nazis and the other not. 1938: Anschluss (annexation of Austria)- Hitlers plan included all Germans being part of Germany. There wasn’t even any fighting when they did this because some wanted it. Sudetenland (Czechoslovakia)- This area was all mountains and also included many Germans and so there was again no fighting even though it was a part of Czech. Munich Conference- This conference tried to stop what Germany was doing, and create peace again. Mussonlini started it surprisingly and they discussed whether or not Germany could take Sudetenland. No one could really do anything about it without war. Appeasement. Neville Chamberlain- This was the leader of Britain at the time, but he didn’t do much. 1939: Germany went into Czech, but nobody defends it even though Britain and France have a treaty to. Problem of Poland (Danzig; “corridor”)- This had been in Germany before WWI, and then was made into a “free” city. Germany easily took it all. August: Hitler-Stalin (Molotov-Ribbentrop) Pact- This was a shocking pact because they were very against each other. This was simply a treaty of non-aggression. But there were secret clauses involved about what will happen if a war begins. Appeasement- This is keeping the peace at any price, which is now considered somewhat of a bad thing. World War II

Yalta, Feb. 1945- They met again, Roosevelt was very ill. This is the last time they meet. We were a lot closer to winning but still not too confident. All three had the same primary war aim, beat the axis. But now they needed to discuss what else they each wanted. The Cold War The Cold War- started with US and USSR, global rivalry, that costed a lot of money, costed a lot of lives but not in US and USSR(civil wars backed by the big powers), built up new and more dangerous weapons Secondary War Aims Yalta Conference, Feb. 1945 (Stalin, Roosevelt, Churchill)- The US didn’t know if we would have to go into a land war with Asia and get the USSR to back them up. Postdam Conference, July 1945 (Stalin, Truman, Churchill/Atlee)- meet in Berlin, While this conference was going on, Churchill was not reelected. Just found out that we got a new weapon. Atomic Bombs: Hiroshima, Aug 6. 1945- Opening of a new era in warfare. Nuclear bombs rather than regular bombs. USSR enters war, Aug 8 1945- Japan didn’t surrender. So the USSR came in. Nagasaki, Aug 9,1945- Second bomb, killed more people, Japan didn’t even surrender very quickly. Japanese surrender- finally within a week, they surrender. Betrayal in Europe- each side believed they were betrayed based on what they would get from Yalta. They were going to get to be democratic; anyone could run if they weren’t fascist. The Communist party took over all of these countries, which the US thought there was cheating. Hungary Romania Bulgaria Yugoslavia- got the Germans out without Russia’s help, so there were no Soviet troops. Tito- leader of the Yugoslav resistance, and he was also a communist, and he is elected. Czechoslovakia- lots of communists, easy for Stalin to put in communism. Poland- Poland is the most complicated, it was divided up by Germany and USSR, and then saved from the Germans by USSR. Poland didn’t trust them. Stalin played dirty tricks to get a few communists into power Germany: East and West East and West Berlin- The east was ruled by the Soviets. The west was controlled by the French, English, and Americans. They each disagree on what was agreed on at Yalta. The Western countries wanted to put Germany back on its feet so that they did not have to waste money being over there, and so it was strong enough to resist communism. The Soviets wanted to continue occupying Germany. They both felt betrayed. 1947 Marshall Plan- George Marshall, US secretary of state. Going home from WWI immediately was a mistake, this time we need to invest in Europe and invest in Peace. Mostly just philanthropy. Congress approved the plan. Most countries accepted it, but the Stalin did not allow any eastern countries to take any Civil War in Greece- Truman Doctrine: “Containment”- Policy to fight against communism wherever it shows up. 1948 Berlin Blockade/ Airlift- Soviets were very irritated that there were Americans and English in Berlin so they tried to blockade them off and starve them. They also divided Germany and wanted all the western troops out of the Eastern Germany. This blockade was met with an airlift for a year. The Russians never shot them down though. Neither really wants to fight. The West won. USSR breaks with Yugoslavia- Yugoslavia had developed a strong enough government to become the first nation to break from Stalin’s Communist Regime. 1949

North Atlantic Treaty Organization: NATO- Canada, US, England, Germany, Netherlands, and more European powers. Unified front against the Soviet Union. USSR gets atomic bomb- They finally figured out how to make an atomic bomb, but they didn’t have anyway to get it to the US anyway. We had bases in Germany but they were far from the US. Communists win in China: Mao Tse-Tung (Zedong)- This took a long time to do. But there are different flavors of Communism, and Stalin did not really like anything he wasn’t in control of. Rivalry slowly developed over years. 1950 North Korea invades South Korea: War, 1950-1953- discussed later in notes.* 1953 Death of Stalin- no one really seemed to mind, not even in the USSR Poland rebels 1955 Warsaw Pact formed- Response to NATO by the Eastern countries. They both stock piled for war. It looked like it might be how the world would end. 1956 Nikita S. Khrushchev (1894-1971)- He said good things about Stalin at first. Secret Speech- This is given by Khrushchev about how they would begin de-Stalinization. Things slowly got better. He admitted that Stalin had gone too far and they would slowly change and improve things. 1961- Berlin wall Beyond Europe Decolonization- This was the end of imperialism. The Third World knew a lot about western civilization at this point, but we knew nothing about them. They became very good at creating independence movements and made themselves less profitable to those who ruled them. India: Since the 1700’s France and England had been in India. They actually created India by pushing many other countries together. When they started their independence movement England realized they needed to step out of being a world power because they couldn’t afford it anymore. Mohandas Ghandi (Mahatma” 1869-1948)- Leader of the Indian independence movement. He was an educated lawyer. He led a non-violent revolution that was very unusual at the time. They boycotted English and French items. 1947, “ Partition”: Independence was won, but civil war broke out between the Hindus and Muslims. India (Hindu)- Both of these religions were supposed to be peaceful Pakistan (Muslim) They did not feel comfortable in a Hindu state. The civil was was extremely violent. Chinese Communists take over, 1949- There was a new rivalry between China and Russia Mao Zedong (1893-1976) He was the Chinese ruler, and very much liked Stalin. He followed what Stalin wanted until he died. Then he began being more independent from the USSR. Korea: Every country was interested in Korea at the time, there were lots of communists and lots of anti- commnists. They divided into North and South USSR backs North- Communists US backs South-The US went to the UN and said that they needed to stop the communists from taking over the South. The US sent troops to S Korea North invades South, 1950-1953- They wanted to unite Korea under a communist rule. No one really won, but now the North is extremely secluded. No one goes in, and no one goes out. (3 million Korean deaths; 50,000 Americans)

Poland 1970 Poland 1980, “Solidarity” labor union Mikhail S. Gorbachev (b. 1931)- Became leader (General Secretary) 1985- started reforms to go back to ideal communism. “glasnost” and “perestroika”- he said to speak out about what was wrong. Slowly but surely people stood up and criticized what was going on. Challenges to Union (especially by Lithuania)- Soviet Union separated into 15 different counties without violence on Christmas day and Gorbachev retired. Challenges to monopoly of communist party- the People pushed for actual elections, with more than one party. 1989: East European youth force USSR out, fall of Berlin Wall, German Reunification, 1990 Ronald Reagan (1911-2004)- was brave enough to just believe what Gorbachev was doing.

The Great Depression, History Notes 3 - Western Civilization II | HST 102, Study notes of Cultural History of Europe

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