The Wall Street Crash and the Great Depression Flashcards

1
Q

Who died on 3 October 1929?

A

Gustav Stresemann

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2
Q

When did the Great Depression begin?

A

October 1929

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3
Q

What did people do as the Wall Street Crash began in New York?

A

Sold their shares before their investments fell further

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4
Q

How much had investors lost in one week as a result of the Wall Street Crash?

A

$4,000 million

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5
Q

How did banks in America respond to the Wall Street Crash?

A

They recalled the short-term loans they had given to Germany as part of the Dawes Plan

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6
Q

How did German people respond to the Wall Street Crash?

A

They took their money out of their bank accounts, fearing the banks would not let them access their money

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7
Q

How did banks in Germany respond to the Wall Street Crash?

A

They demanded the money they had lent to German businesses in industry and agriculture

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8
Q

What impact did the Wall Street Crash have on German industries and farms?

A

They had to scale back production or even close down

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9
Q

What impact did the Wall Street Crash have on German industrial production by 1932?

A

It was at 40% of its 1929 level

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10
Q

What impact did the Wall Street Crash have on German workers?

A

They became unemployed

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11
Q

How did the Wall Street Crash create a downward spiral for German industry?

A

Unemployed workers became poorer

Poorer people couldn’t buy as much

Less buying meant sales fell

Falling sales meant companies were forced to make more workers unemployed

Etc

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12
Q

What proportion of German workers were unemployed by 1932?

A

One in three

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13
Q

Why might unemployment figures have been even higher in reality in Germany during the Great Depression?

A

Many women who lost their jobs often failed to register themselves as unemployed

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14
Q

How many German workers were unemployed when Hitler became Chancellor in January 1933?

A

6.1 million

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15
Q

What impact did the Great Depression have on unemployed people in Germany?

A

Unemployment benefits were cut, and the national government gave the responsibility of helping them to local authorities

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16
Q

How many people was the Weimar Republic’s benefits system designed to support? Why was this a problem during the Great Depression?

A

800,000

It could only provide relief for a few months

17
Q

For those still in work during the Great Depression, how were they impacted negatively?

A

Real wages in 1932 were at 70% of 1928 levels as employers cut hours in response to a collapse in demand

18
Q

How did the Great Depression affect homelessness?

A

People could no longer afford rent and lived in makeshift houses in shanty towns