New republic

After a brief flirtation with monarchy, Finland became a presidential republic, with Kaarlo Juho Ståhlberg elected as its first president in 1919. The Finnish–Russian border was determined by the Treaty of Tartu in 1920, largely following the historic border but granting Pechenga (Finnish: Petsamo) and its Barents Sea harbour to Finland. Finnish democracy did not see any more Soviet coup attempts and survived the anti-Communist Lapua Movement. The relationship between Finland and the Soviet Union was tense. Germany's relations with Finland were also not good. Military was trained in France instead, and relations to Western Europe and Sweden were strengthened.

In 1917 the population was 3 million. Credit-based land reform was enacted after the civil war, increasing the proportion of capital-owning population.[20] About 70% of workers were occupied in agriculture and 10% in industry.[23] The largest export markets were the United Kingdom and Germany. The Great Depression in the early 1930s was relatively light in Finland.

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