1. Bell work Question: READ pg. 750 “A Story That Matters” Describe how some individuals dealt with the loss of their jobs and possessions. 4-5 complete sentences Between the Wars: Section One
2. Depression vs. Recession: Are we currently experiencing a depression or a recession? Charts Below: Unemployment rates In the United States
3. A weak league of Nations Prez. Wilson realized the Treaty of Versailles(V) could cause another conflict. not effective in maintaining peace. U.S. did not join the league. U.S. senate did not ratify the Treaty of V.
4. Who are the characters? Who is the audience? What is the message
5. French Demands French demand strict enforcement of the Treaty of V. 1921—Allied Reparations Commission determined that Germany owed 132 billion Marks($) German GOV is unable to pay the next year. France sent troops to occupy the Ruhr Valley.
6. Inflation in Germany German workers strike, GOV pays them by printing more money. 1914---4.2 marks = 1 U.S.$ 1923---130 Billion marks = 1 U.S.$ 1924---4.2 trillion marks = 1 U.S.$ Dawes Plan- a new plan for reparation payments. Named for an American banker. 1. Reduced reparations 2. $200 million loan
7. Treaty of Locarno Guaranteed Germany’s new western borders w/ France and G.B. Kellogg-Briand Pact- “ to renounce war as an instrument of national policy”
8. Cause of the Great Depression 1. Uneven distribution of Income—low wages for middle class, low taxes for the rich. 2. Stock Market crash---buying stocks on margin. 3. over production of food & products. 4. Hawley-Smoot Tariff- raising tariff rate to the highest level in U.S. History. Loss of export sales
9. Pit Stop What are stocks? How did many Americans buy stocks? Define: margin call
10. The Stock Market Stock market- a system for buying and selling shares of companies. Margin- using loans to buy stocks. Margin call- a demand for a loan to be repaid at once! Speculators- individuals that made risky investments in the stock market.
11. The Stock Market Crash! %@#* Black Tuesday- October 29 1929, stocks lose $10-$15 billion in value. 3,000 banks were forced to close because… 1. banks lent money to speculators. 2. banks invested their customers money in the stock market. 3. Bank runs-customers withdraw all of their money from the bank.
12. Pit Stop How many banks closed after the stock market crash? Name the 3 causes of these bank closings?
