The coming of The Depression

Question 1

Traditional Industries

Answer 1

Coal
Iron and Steel
Shipbuilding
Textiles

Question 2

Why did traditional industries decline

Answer 2

Competition from abroad
New Markets
Obsolete methods

Question 3

Impact of traditional industries’ decline

Answer 3

800,000 jobs lost due to fall in overseas exports
British cotton market share was decreased from 65% in 1911 to 28% in 1938
New technology meant that French, German and Polish mines competed with cheaper coal
People employed in cotton industry fell from 621,500 in 1911 to 393,000 in 1938

Question 4

Wall Street Crash Date

Answer 4

29th October 1929

Question 5

Impact of wall street crash on Britain economy and employment

Answer 5

Trade exports fell by half between 1929 - 1931
Trade deficit of £114 million in 1931 compared to a trade surplus of £104 million in 1928
2 million unemployed in 1930 and 3 million in 1932

Question 6

Impact of wall street crash on politics

Answer 6

Most politicians thought economy would fix itself
Famous economist John Keynes disagreed with these politicians
In 1931 National government was set up. Led by labours Ramsey MacDonalds tried to cope with worsening economic and social crisis.

Question 7

Conclusion

Answer 7

paired with first world war Britain’s economy was in a very poor state heading into the 1930’s