Effects of the Great Depression

"Booming Twenties" saw America loaning billions to European countries that suffered from WW1. US companies were selling lots of goods and countries wanted shares.
Many American producers overproduced - too much supply not enough demand meaning competition from countries like Japan
In 1929, Stock market Crashed - people realised some companies were doing badly so rushed to sell shares
1. October - selling frantic no one wanted shares at high prices
2. businesses collapsed and people were ruined people sold shares for whatever they could get from them
  1. The Great Depression
stopped lending money and called loans in
1930, 2000 banks collapsed as people rushed to withdraw savings
In Germany, banks failed 6mil unemployed by 1932 and exports were suffering
Widespread poverty people more likely to support right-wing hoping for a strong government
Depression made League's work more difficult - Nazis wanted to defy LoN to overturn ToV meaning countries like Britain and France less willing to help League to resolve International conflicts wanted to concentrate on domestic problems like unemployment
poverty, hunger and homelessness in Germany
1. Farmers - fell further in debt
2. 40% Factory workers unemployed in 1932 and government cut benefits
3. Young people - 1933 over half of Germans between 16-30 unemployed with 60% graduates without jobs
Businesses shut down if they didn't there would be no income, government increased taxes to try and help those below poverty line

Resource summary

	Created by tasnimkhan almost 11 years ago