By: Justin Gracia

The great war left all of Europe's major countries nearly bankrupt.

The wars end saw the very sudden rise of many new democracies.

Germany’s new democratic government that was set up in 1919

Germans had simply printed money. This paper money quickly lost 

Germany recovered from the 1923 inflation because of a work comitte

Kellogg-Briand peace pact

The U.S. economy weakened

Weaknesses in the U.S. economy caused serious problems

Tuesday, October 29

Long business slump

World trade dropped by 65 percent.

Germany and Austria were particularly hard hit

Each country met the crisis in its own way

Britain avoided political extremes and preserved democracy.

France also preserved democratic government.

Democracy remained intact.

A program of government reform that was called the New Deal