United States CongressThe United States Congress is the legislative branch of the federal government of the United States. It is a bicameral legislature, including a lower body, the U.S. House of Representatives, and an upper body, the U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment.
World War I reparationsFollowing their defeat in World War I, the Central Powers agreed to pay war reparations to the Allied Powers. Each defeated power was required to make payments in either cash or kind. Because of the financial situation in Austria, Hungary, and Turkey after the war, few to no reparations were paid and the requirements for reparations were cancelled. Bulgaria, having paid only a fraction of what was required, saw its reparation figure reduced and then cancelled.
United KingdomCountry in northwestern EuropeThe United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in northwestern Europe, off the coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland, with a population of over 69 million in 2024.
Allies of World War IMilitary coalition in World War IThe Allies or the Entente (UK: , US: ) was an international military coalition of countries led by the French Republic, the United Kingdom, the Russian Empire, the United States, the Kingdom of Italy, and the Empire of Japan against the Central Powers of the German Empire, Austria-Hungary, the Ottoman Empire, and the Tsardom of Bulgaria in World War I (1914–1918).
European banking crisis of 1931The European banking crisis of 1931 was a major episode of financial instability that peaked with the collapse of several major banks in Austria and Germany, including on 11 May 1931, Landesbank der Rheinprovinz on 11 July 1931, and Danat-Bank on 13 July 1931. It triggered Germany's exit from the gold standard on 15 July 1931, followed by the UK on 19 September 1931, and extensive losses in the U.S. financial system that contributed to the Great Depression.Young PlanThe Young Plan was a 1929 attempt to settle issues surrounding the World War I reparations obligations that Germany owed under the terms of Treaty of Versailles. Developed to replace the 1924 Dawes Plan, the Young Plan was negotiated in Paris from February to June 1929 by a committee of international financial experts under the leadership of American businessman and economist Owen D. Young.
Herbert HooverHerbert Clark Hoover (August 10, 1874 – October 20, 1964) was the 31st president of the United States, serving from 1929 to 1933. Hoover's term as president was dominated by the Great Depression. His ineffectual response to the growing economic calamity made him widely unpopular, and he lost reelection to Franklin D. Roosevelt in the 1932 United States presidential election. In 1895, Hoover became one of the first graduates of the new Stanford University.
Great DepressionThe Great Depression was a severe global economic downturn from 1929 to 1939. The period was marked by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street crash of 1929 often considered the beginning of the Depression.
New DealThe New Deal was a 1933–1938 series of economic, social, and political reforms in response to the Great Depression in the United States under President Franklin D. Roosevelt. He introduced the phrase when accepting the Democratic Party presidential nomination in the 1932 United States presidential election, winning in a landslide over incumbent Herbert Hoover, whose administration was widely viewed as ineffective.1932 Lausanne ConferenceThe Lausanne Conference of 1932, held from 16 June to 9 July 1932 in Lausanne, Switzerland, was a meeting of representatives from the United Kingdom, France, Italy, Belgium, Japan and Germany that resulted in an agreement to lower Germany's World War I reparations obligations as imposed by the Treaty of Versailles and the 1929 Young Plan. The reduction of approximately 90 per cent was made as a result of the difficult economic circumstances during the Great Depression.
Franklin D. RooseveltFranklin Delano Roosevelt (January 30, 1882 – April 12, 1945), also known as FDR, was the 32nd president of the United States, serving from 1933 until his death in 1945. He is the longest-serving US president and the only one to have served more than two terms. His first two terms centered on combating the Great Depression, while his third and fourth focused on US involvement in World War II.*As an Amazon Associate I earn from qualifying purchases.