GREAT DEPRESSION + ITS IMPACTS Flashcards
WHEN did the Wall Street stock market collapse?
October 1929
By HOW MUCH did world trade fall by during the Great Depression?
By more than 60% in 1930
To WHAT extent was the Great Depression caused by the Wall Street Crash (US)?
The Wall Street Crash did caused a global drop in demand but some economists argue that the US GDP was already falling before 1929
WHAT was the German government’s response to the Great Depression?
- The Reichsbank was forbid from printing more money (to prevent inflation)
- The government cut spending
- Bruning sought protectionism and raised the costs of imports
By WHAT proportion were war pensions cut by during the Great Depression?
1/3
HOW MANY businesses in industry went bankrupt during the years 1930-1932?
50,000
HOW MANY were unemployed in 1929, 1930 and 1933?
1929: 1.6 million
1930: 3 million
1933: 6 million
HOW MANY were unemployed in 1929?
1.6 million
HOW MANY were unemployed in 1930?
3 million
HOW MANY were unemployed in 1933?
6 million
WHY might the unemployment figures during the economic depression be inaccurate?
Many redundant workers, particularly women, were not registered as unemployed.
WHAT is the estimate for the true number of unemployed in 1933?
8 million, not 6 million
WHAT proportion of the German working force was unemployed in 1933?
1/3
By WHAT percentage did national incomes drop by in Germany 1932 compared to 1929?
By 39%
WHAT is an example of an industrial area which was affected very badly by the depression?
Thungria
WHY was there great recalling of investment from Germany in 1930?
It was at least partly due to the gains extremist parties made in the national elections (and due to the economic depression)
WHEN did the German government close the banks and stock exchange temporarily during the depression and WHY?
July 1931, to give the system breathing space.
WHAT were the effects of increasing poverty in Germany during the economic depression?
- Diseases linked to poor living conditions and nutrition increased (e.g. rickets and TB)
- Tent cities and shanty towns began to appear on the edges of large cities like Berlin
- Involvement of young men in extremist political organisations increased
WHO would have received less benefits during the depression in Germany?
Women and young people
WHAT did the government do about growing unemployment during the depression?
- Focused on controlling expenditure and lessen the effects of the depression
- Emergency labour schemes offered wages below the minimum wage for unskilled manual labour.
HOW did the different political parties want to deal with the economic depression?
Right: cut benefits / government expenditure
Left: raise taxes and pay for benefits
WHAT was the Grand Coalition?
Coalition government (June 1928 - March 1930) between the SPD, Z, DDP, DVP and BVP with Muller as Chancellor
WHEN did Muller resign as Chancellor?
March 1930
WHY did Muller resign?
The Reichstag went into deadlock as no one could agree during the depression. Muller wanted Hindenburg to use Article 48 to get his finance bill through, but he refused, forcing Muller to reisign.
