Collapse of the WR, 1929-33 Flashcards
After the WSC, how many major banks went bankrupt?
5
What happened to national income 1929-32?
It shrunk by 39%
How many people were unemployed by 1932?
6 million
After the WSC, how many business went bankrupt?
50,000
After the WSC, what happened to industrial production?
Declined by 40%
After the WSC, what happened to wages?
They fell between 20 and 30%.
What policy did Brüning adopt?
A policy of deflation
What did Brüning use an emergency decree to introduce?
Wage cuts, rent cuts and tax rises.
What happened in July 1931?
The Hoover Moratium suspended the need for Germany to pay back loans for a year.
What did Brüning’s policies do to the economy?
Deepened the recession
What did von Papen introduce?
Some tax concessions and subsidies for businesses which created new jobs and helped to improve the economy.
What fell apart as parties disagreed over how to manage the economic crisis?
The Grand Coalition - March 1930
What percentage of the vote did the Nazis have in 1928?
2.6%
What did unemployment stand at in August 1929?
2 million
What government did Brüning lead as a result of the collapse of the Grand Coalition?
A minority government - never had the support of the Reichstag.
What did unemployment stand at by the end of 1930?
Over 3 million