The great depression
Wall Street Crash in October 1929
- The US stock market crashed
- meaning no more loans were granted for Germany and the US loan banks wanted their laon paid back
- dangerous for a country that was so dependent upon foreign loans for its 'shaky growth'
- remeber that the Economy had never really recovered from the War and Hyperinflation.
- Banks Closed
- Firms went bankrupt
- exports fellt from £630 millionbin 1929 to £280million 1932
- thousands of small family businesses and smaller farms went bankrupt
- unemployment rose from 1.3 million in 1929 to over 6 million in 1933
- The real Figure was even higher as the 6 Million did…