-
Period: to
Naval Arms Race
For some European leaders, it wasn't a question of whether if a great war would start but when. So, to prepare, leaders started to increase the size of their stockpiles of weapons and their armies. Germany readied its war machinery more than any other nation. By 1914, it had a gigantic standing army and the largest collection of guns in the world. -
The Assassination of Francis Ferdinand
On June 28, 1914 Archduke Francis (or Franz) Ferdinand and his wife Sophie left for what should have been a routine visit to Sarajevo. But a couple of young Bosnians had other plans. These men were ethnic serbs and they believed that Bosnia belonged to Serbia and they thought of Franz as a tyrant. After the driver made a wrong turn, one of the conspirators pulled out a pistol and fired twice. First Sophie and then Franz died. No one expected that this would lead to a great war. -
Austria-Hungary declares war
After the Assassination, Germany assured Austria-Hungary that they would stand by if war came. Then, being confident in Germany's support, Austria-Hungary sent Serbia a harsh ultimatum demanding their total cooperation in an investigation into the assassination. When Serbia did not agree to every demand, Austria-Hungary declared war. -
Period: to
World War 1
A resurgence of imperialism was an underlying cause but the immediate trigger was the assassination of Francis Ferdinand. The Americans were divided on whether to join and on which side. The vicious German of neutral Belgium swayed the American opinion. President Wilson tried to use his influence to end the conflict, but he failed. He also failed to keep the U.S. out of the war. At the end of 1915, he began to prepare the nation for war. -
The Zimmermann Note
The German Foreign Minister Arthur Zimmermann sent a telegram to Mexico proposing an alliance. The telegram was intercepted by the British and given to America. The Americans were shocked by the publication of the Zimmermann note and Wilson asked Congress to declare war on Germany. -
End of World War 1
Atfer the war, German and Russian monarchies toppled and the Austro-Hungarian and Ottoman empires ceased to exist. Britain and France came out victorious but they were weakened economically and politically. The U.S. came out strong, confident, and prosperous. By 1920, the U.S. was an economic powerhouse. The U.S. was now also the largest creditor nation in the world. -
The Signing of the Treaty of Versailles
The Treaty of Versailles was the peace agreement signed after World War 1 ended. A lot of land was either taken from Germany or put under the control of the League of Nations. Germany's army was greatly reduced to only 100,000 and they were not allowed tanks. There were 3 clauses that were very important. 1. Germany had to admit resposibility for starting the war. 2. Germany had to pay reparations. 3. The League of Nations was set up. For Germany, it was either sign or be invaded. -
Period: to
Boom Times
The recession that came after World War 1 ended very quickly. All signs began to point to economic growth. The 1920s saw a consumer revolution and it was fueled by new ways of buying. Installment buying allowed Americans to own products that they would have to save up for years to own. The 1920s also enjoyed a bull market. More and more Americans began to put their money into the stock market. People also began to buy on margin. -
Period: to
Causes of the Great Depression
A number of different factors contributed to the Great Depression. The prosperity of the 1920s was not as deep or as sturdy as Hoover claimed. Farmers had contracted huge debts and the additional mortgage payments followed them into the 1920s. During the 1920s, the rich became a lot richer while industrial workers only became less poor. The uneven distribution of wealth created huge economic problems and the problem was that the wealthiest few did not spend enough to support the economy. -
The stock market crashes
Too much money was being poured into stock speculation. On September 3, 1929, the stock market began to sputter and fall. The Dow Jones dropped 21 points on October 23, 1929 and the investors lost confidence- the only thing that kept the market up. On October 29, the bottom fell out. More than 16 million shares were sold as the stock market collapsed in the Great Crash. The Hawley-Smoot tariff only made things worse by destroying international trade and spreading the depression across the globe. -
Period: to
Contributing to World War 2
The Treaty of Versailles wasn't lenient enough to satisfy Germany and it wasn't harsh enough to prevent it from becoming a dominant power again. Also, the League of Nations was weak because the U.S. didn't join and it didn't have an army of its own. In the early 30s, Germany ceased its reparation payments and the U.S. drastically decreased their loans to Europe. As a result, Europe began to see the same cycle of business failure and bank collapse as the U.S. and the depression went global.
