The effects of the Great Depression
- Created by: Nitika
- Created on: 28-10-12 17:26
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- The effects of the Great Depression
- The American Stock
Market Crashed in 1929
- USA was the more prosperous country in the world- saw billions of dollars loaned by the USA to help European countries
- Companies were selling lots of goods, so people borrowed money
to buy shares in them
- Oct 1929 the selling was frantic + prices dropped- people no
longer wanted to buy shares at high prices
- start of the GD- global economic downturn
- Oct 1929 the selling was frantic + prices dropped- people no
longer wanted to buy shares at high prices
- But problems started to emerge- overproduced-1929, the American stock market crashed
- The Depressions caused
big problems in USA
- In 1929 the USA stopped sending money abroad + called its loans
- By 1930s nearly 2000 banks collapsed as people rushed to withdraw savings
- The Depression affected other industrial
countries
- Most industries countries were affected- banks failed, industries struggles + trade ground to a halt
- The Depression made
the League’s work more difficult
- The depression meant that countries lie Gb + F were less willing to help the League by getting involved in resolving international conflicts
- The American Stock
Market Crashed in 1929
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