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Chapter 15 Section 2

The war's end saw the sudden rise ofa new democracy
From 1914 to 1918, Europeans' last absolute rulershad been overthrown
The dynasties ofthe Hohenzolls in Germany, the Hapsburgs in Austria-Hungary, the Romanovs in Russia and the Ottomans in Turkey all ended
The first of the new governments was formed inRussia in 1917
The Provisional Government, as it was called,hoped to establish constitutional and democratic rule
However, within months the Provisional Government had falled to aCommunist dictatorship
Even so, for the first time, most European nationshad democratic governments when the first of the new governments was formed in Russia in 1917
Germany's new democratic governmentwas set up in 1919
Known as the Weimer Republic,Germany's government was named after the city where the national assembly met
Germany faced enormouseconomic problems, unlike Britain and France
To pay the expenses of the warGermans printed money and this paper money lost its value
MarkGerman money-German currency
Germany recovered from the 1923 inflation thanks to the work of an international committee headed byCharles Dawes, an American banker
The Dawes Planprovided for a $200 million loan from American banks to stabilize Germany currency and strengthen its economy
In 1929 Wall Street in New York City was thefinancial capital of the world
Weird roarThe weekend when there was a panic at the Stock Exchange when everyone wanted to sell stocks and not buy any. The wild shouting 1000 brokers and their assistants became known as the
Long business slumpdepression
Great Depressionthe American economy in its worst business slump
Moderates, Socialists, and Communists formed a coalition called thePopular front
First presidential election after the Great Depression that electedFranklin D. Roosevelt
President Roosevelt's program of reform after the Great DepressionNew Deal
Large public works projectshelped to provide jobs for the unemployed

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