The Wall Street Crash

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  • The Wall Street Crash
    • October 1929, the values of shares collapsed in America.
    • America had to end their loans to Germany and demand repayment.
    • German businesses were forced to close as they were heavily dependent on loans from the USA.
      • The government increased taxes in order to pay for helping unemployment.
    • German workers lost their jobs. By 1932, 6 million out of work.
      • The government cut unemployment benefit to save money.
    • Unemployment badly affected young people. By the end of 1932, 1/2 of Germans ages 16-30 couldn't find jobs.
    • The Weimar Republic was blamed as they allowed German economy to become far too dependent on USA loans.
    • The government was criticised by it's failure to deal with the worst effects of the depression.

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