Economic and Political Impact of the WSC on the WR 1929-33

Question 1

How many businesses went bankrupt from 1930-32?

Answer 1

50000

Question 2

How many major banks closed down in 1931?

Answer 2

5

Question 3

What happened to Exports during the WSC?

Answer 3

Exports collapsed w their total value dropping to 280 million marls by 1932

Question 4

How many were unemployed in 1930 vs 1932

Answer 4

1930 2mil unemp

1932 6mil unemp

Question 5

Why did many become homeless during the WSC

Answer 5

unable to pay rent

Question 6

During the WSC, many homeless depended on

Answer 6

local charities such as soup kitchens

Question 7

Why did traders suffer in the WSC

Answer 7

reduced demand for goods

Question 8

What happened to workers and their families?

Answer 8

• members’ workers families hard hit
• wages reduced
• fear of losing job

Question 9

1932 how many farmers went bankrupt

Answer 9

18000

Question 10

What were production levels of farmers in 1928 vs 1932

Answer 10

1928 100%

1932 77%

Question 11

Farmers had already been hit by…

Answer 11

high interest rates and falling agricultural prices

Question 12

agricultural depression deepened further leading to…

Answer 12

widespread rural poverty

Question 13

Depression dragged down workers’ and ——– families

Answer 13

middle-class

Question 14

what was the drop in national income from 1929 to 1932

Answer 14

39%

Question 15

Imports slumped from ——- 1928 to ———- 1933

Answer 15

14 billion 1928

4.2 billion 1933

Question 16

Stat for fall in industrial production

Answer 16

1929-32 industrial production fell by 58% 1928 level

Question 17

Why is the monocausal view that the WSC final push to bring down Weimar system over-simplistic? (4)

Answer 17

• balance of trade already in red
• unemployment already 1.9mil in 1929 before WSC
• 1925 govt finances continually running in deficit
• many farmers already in debt from falling incomes since 1927
  (Trade Unemployment Govt finances Farmers)

Question 18

Explain what is meant by people being ‘doubly bitter’

Answer 18

• 2nd time govt threw G into large-scale depression (1st hyperinflation 1919-23)

Question 19

political effect of mass unemployment

Answer 19

increasingly polarised electorate and further division in politics

Question 20

Effects on people of WSC

Answer 20

• loss of pride and respectability
• deep psychological scars
• ppl felt unwanted and rejected

Question 21

Nazi election results July 1932 (as result WSC)

Answer 21

Nazis 230 seats- largest party!