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World War I And The Treaty Of Versailles

Decent Essays

Everything always comes to an end; the Roaring Twenties came to an end on October 24, 1929 with the stock market crash. The world was a different place in the years of 1870-1914. John Maynard Keynes called it an economic utopia, products and raw material moved relatively easily, as well low tariffs. Immigration also saw a little red tape and many immigrants moved without many problems, which in turn left labor behind from the countries they left behind. At the time Britain was the number one lender providing the necessary capital for infrastructure, for example roads, canal, and railways. This enabled developing countries to pay back the loans and increase. The causes Great Depression were a numerous but let’s start with World War I and the Treaty of Versailles 1919. After the war the U.S. started to implement quota limits on immigrants and even band all Asian. Furthermore, war loans were not productive and destroyed the ability of the country to pay back the loads. Also the Treaty of Versailles did not offer any means to go back to the period of 1870-1914 and place the burden of the WWI in Germany. When the League of Nation came to be the United States were asked to join and lead the world but the U.S. declined. Also the U.S imposed high tariffs on imports, which all other countries followed the U.S example making things worse. In America credit started to dry up , one the loans to Germany, which Germany used to pay reparations to France and Britain, which France and

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