➊ The Main Causes Of The Great Depression In Germany

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The Main Causes Of The Great Depression In Germany



With the mass unemployment of the s, contributions to the insurance Joyce Carol Oates Use Of Foreshadow dried The Main Causes Of The Great Depression In Germany, resulting in a funding crisis. The north was hit so hard in the Great Depression because of the structural decline in British industry. For cities that had a The Main Causes Of The Great Depression In Germany motor industry such as BirminghamCoventry and Oxfordthe s were also a boom time. In The Main Causes Of The Great Depression In Germany, Japan began its attempt The Main Causes Of The Great Depression In Germany conquer China by invading Manchuria. It was the perseverance and success of these The Main Causes Of The Great Depression In Germany in spite of such conditions that helped the Marine The Main Causes Of The Great Depression In Germany gain prominence in the eyes George Carver Conclusion American military commanders; The Main Causes Of The Great Depression In Germany leading to the creation of the Marines as a distinct branch of the United States Armed Forces. Shortly after Hitler came to power, he managed to seize control of Austria and The Main Causes Of The Great Depression In Germany of what was then Czechoslovakia without any major combat operation.

Impact of the Great Depression on Germany - A level History

This made the pound convertible to its value in gold, but at a level that made British exports more expensive on world markets. The economic recovery immediately slowed. To offset the effects of the high exchange rate , the export industries tried to cut costs by lowering workers' wages. The industrial areas were in recession during the rest of the s. These industries received little investment or modernization. Throughout the s, unemployment stayed at a steady one million. This was only the second time a Labour government had been in office they had briefly been in office in Few of the government's members had any deep knowledge of economics or experience of running the economy.

MacDonald's Labour Party was not radical in economic thinking, and was wedded to the orthodoxy of classical economics with its emphasis on maintaining a balanced budget at any cost. John Maynard Keynes , who had not predicted the slump, said, "'There will be no serious direct consequences in London. We find the look ahead decidedly encouraging. Doomsayers on the left such as Sidney and Beatrice Webb, J. Hobson, and G. Cole repeated the dire warnings they had been making for years about the imminent death of capitalism, only now far more people paid attention. The ensuing American economic collapse shook the world: World trade contracted, prices fell and governments faced financial crisis as the supply of American credit dried up.

Many countries adopted an emergency response to the crisis by erecting trade barriers and tariffs, which worsened the crisis by further hindering global trade. The British Empire tried to hang together by lower tariffs among the members while raising them against the U. The effects on the industrial areas of Britain were immediate and devastating, as demand for British products collapsed. By the end of , unemployment had more than doubled from 1 million to 2. Government revenues contracted as national income fell, while the cost of assisting the jobless rose. The industrial areas were hardest hit, along with the coal mining districts. London and the south-east of England were hurt less. Under pressure from its Liberal allies as well as the Conservative opposition, the Labour government appointed a committee to review the state of public finances.

The May Report of July urged public sector wage cuts and large cuts in public spending notably in benefit payments "dole" to the unemployed to avoid incurring a budget deficit. The Chancellor of the Exchequer, Philip Snowden , insisted that the Report's recommendations be adopted to avoid incurring a budget deficit. In a memorandum in January , one junior government minister, Oswald Mosley , proposed that the government take control of banking and exports, as well as increase pensions to boost purchasing power.

The dispute over spending and wage cuts split the Labour government: as it turned out, beyond recovery. The political deadlock that resulted caused investors to take fright, and a flight of capital and gold further de-stabilised the economy. On 24 August, MacDonald submitted the resignation of his ministers and led his senior colleagues in forming the new National Government. MacDonald and his supporters were expelled from the Labour Party and adopted the label " National Labour ". The Labour Party denounced MacDonald as a "traitor" and a "rat" for what they saw as his betrayal.

Soon after this, a general election was called. The general election resulted in a Conservative landslide victory, with the now leaderless Labour Party winning only 46 seats in Parliament. After the election the national government was Conservative-dominated, although MacDonald continued as prime minister until In an effort to balance the budget and restore confidence in the pound, on 10 September with Philip Snowden still as Chancellor, the new national government issued an emergency budget, which immediately instituted a round of cuts in public spending and wages.

The pay cuts did not go down well, however, and resulted in a non-violent "mutiny" in the Royal Navy protesting the pay cut. These measures were deflationary and merely reduced purchasing power in the economy, worsening the situation, and by the end of unemployment had reached nearly 3 million. The flight of gold continued, however, and the Treasury finally was forced to abandon the gold standard in September Until now the government had religiously followed orthodox policies which demanded balanced-budgets and the gold standard. Instead of the predicted disaster, cutting loose from gold proved a major advantage. British exports were now much more competitive, which laid the ground for a gradual economic recovery.

The worst was over. The introduction of tariffs caused a split in the Liberal Party , some of whom, along with Phillip Snowden, withdrew support for the National Government. Although the overall picture for the British economy in the s was bleak, the effects of the depression were uneven. Some parts of the country, and some industries, fared better than others. Some parts of the country such as the South Wales Valleys experienced mass unemployment and poverty, while some areas in the Home Counties did not.

The brightest spot was in home building. From through over , new houses were built every year, with the peak reaching , in In London and the south east of England unemployment was initially as high as The south was also the home of new developing industries such as the electrical industry, which prospered from the large-scale electrification of housing and industry. Mass production methods brought new products such as electrical cookers and radios into the reach of the middle classes , and the industries which produced these prospered. Nearly half of all new factories that opened in Britain between and were in the Greater London area.

Another industry that prospered during the s was the British motor industry. For cities that had a developed motor industry such as Birmingham , Coventry and Oxford , the s were also a boom time. Manufacturers such as Austin , Morris and Ford dominated the motor industry during the s, and the number of cars on British roads doubled within the decade. British Agriculture also flourished in the s. Northern England , however, was a quite different matter.

The north was the home to most of Britain's traditional heavy industries, such as coal mining in Yorkshire and Nottinghamshire , shipbuilding on Tyneside and Wearside , steel in Sheffield and textiles in Lancashire which were heavily export orientated. The north bore the brunt of the depression, and the '30s were the most difficult time in living memory for people in these areas. The north was hit so hard in the Great Depression because of the structural decline in British industry. Staple industries such as coal, steel and shipbuilding were smaller, less modern and efficient and over-staffed compared to continental rivals.

In the north east including Sunderland , Middlesbrough and Newcastle-upon-Tyne this was especially so. The north east was a major centre of the shipbuilding industry. The Depression caused a collapse in demand for ships. Among the worst affected towns was Jarrow , where unemployment led to the famous Jarrow March , in which unemployed workers marched mi km to London to protest against unemployment. The north west , a centre of the textile industries, was also hard hit, with places such as Manchester and Lancashire suffering a slump. In these areas, millions of unemployed and their families were left destitute, and queueing at soup kitchens became a way of life.

In his book The Road to Wigan Pier , George Orwell described life for the unemployed in northern England during the depression: "Several hundred men risk their lives and several hundred women scrabble in the mud for hours For them, this arduously-gained 'free' coal was more important almost than food. In the s and s, Britain had a relatively advanced welfare system compared to many of the industrialised countries.

In a compulsory national unemployment and health insurance scheme had been put in place by the Liberal government of H. Asquith see Liberal reforms. This scheme had been funded through contributions from the government, the employers and the workers. At first the scheme only applied to certain trades but, in , it was expanded to include most manual workers. However, the scheme only paid out according to the level of contributions made rather than according to need, and was only payable for 15 weeks.

The Chilean economy, based upon the perspective presented by the calculations of the League of Nations, was most severely impacted by the economic collapse characterised by the Great Depression of Similarly, real GDP dropped from in to 67 in , [23] contributed by the fall of the value of production from in to 77 in alongside a rapid decrease in the average annual production that reached the equivalent to one quarter of levels in December Chile's economic struggles during the Depression were further compounded by a decrease of foreign loans. This contributed to an increase in Chile's budget deficit and reduced government revenue, resultant of their heavy reliance on Foreign financial support, in particular US support, to drive Economic growth pre-depression.

During this period of the Great depression, Chile's sluggish economic growth throughout is further representative of the rising unemployment and decrease in the production of nitrate. A decrease in employment in Chile's mining sector is exemplified from to , in which the number of workers in stood at less than one third of figures of High rates of unemployment, caused by a fragile export economy saw an increase in geographical mobility of the working class, exemplified between September to February in where 46, people left nitrate fields to the main cities of Chile, such as Santiago and other provincial cities. Working class struggle combined with economic decline lead to the printing of more money by Chile's president Juan Antonio Montero in April The onset of the Great Depression in Cuba, triggered by the US economic crisis of , compounded political instability, political opposition to Machado's dictatorship, societal unrest, poverty and economic decline.

Thus, the US stock market crash and economic crisis of contributed to a fall in export revenue and employment largely contributed by Cuba's sugar industry. This fall in Cuban sugar prices not only impacted national revenue but further contributed to an increase in unemployment as sugar Mills began to close down. By there were only active mills, dropping from mills active in This economic history -related article is a stub. You can help Wikipedia by expanding it. From Wikipedia, the free encyclopedia. Main article: Great Depression in Chile. The Great Depression in Latin America , p. Modern Latin America 6th edition. New York: Oxford University Press.

A History of Latin America Seventh ed. New York: Houghton Mifflin. Great Depression. Bonus Army New Deal. Category Commons.

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