the reasons for the economic crisis of 1929-31

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  • Created by: jalajo
  • Created on: 10-05-15 12:08
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  • the reasons for the economic crisis of 1929-31
    • Wall Street Crash, October 1929 brought price of American stocks down
      • Loss of American markets + other foreign markets who were affected by Wall Street Crash
        • Affected staple industries of coal and shipbuilding badly because of lack of markets, by end of 1931 exports fell by half
          • Unemployment was already high due to decline of staple industries pre-Crash but it increased to 3 million by the end of 1932
      • Investors withdrew sterling and gold deposits from the Bank of England

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