The Role Of The Great Depression In America
The Great Depression was a severe stock market crash that happened in the 1930s. In the late 1920s, economic grew rapidly and many classes poured their savings into stocks. Investors traded useless shares that were deemed worthless, over millions in one day, later to be referred as, “Black Thursday.” An outbreak flooded the nation, causing workers to lose their jobs and decrease mass production. Across the world, everyone felt the the devastating blow, creating a domino effect. ( History.com ) The United States had close relations to nearby countries, especially Europe. So when America has the great depression, Europe unfortunately suffered their own downfall. Some European countries were hit really hard, like Germany, while others didn’t suffer
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with high unemployment and fall of the economy. An excerpt from a historian, Irene Guenther described the hardship in germany. Stating, “Germany appeared to be on the brink of civil war. The young Weimar Republic was wracked by armed street fighting waged mainly between Communists and Nazis. Foreclosures, bankruptcies, suicides and malnourishment all skyrocketed. Six million Germans, 40 per cent of the working population, were unemployed; and thousands found themselves without a place to live… As anxiety and fear gripped the masses of unemployed men, blatant prejudices resurfaced against full-time female workers. Women were urged to give up their jobs and return home to their traditional roles as wives and mothers. Some of them gladly complied. Others were despondent, either because of their financial need to work or because they worried that the few advances made by women would be permanently stifled.” (AlphaHistory.com) Besides the struggle of Germany, all European countries had a less collapse than Canada and US and the crisis lasted shorter time.
Economy didn’t experience noticeable decrease until 1930-1931 and the deepest fall was reached in 1933. Then problem with Great Depression in Europe was bigger when the problem between France and Germany arose in 1932. To stop economic union between Germany and Austria, France undermined Austrian banking, which led to a banking crisis hitting all of Central Europe. France, Czechoslovakia, UK, and Poland was hit with less of the depression with their unemployment had not yet reached over 13% there. The trade rivalries and tariffs had created bad blood among unions, but also forced countries to seek open economic policy with Germany. Overall, the Great Depression weakened political system across Europe causing trouble throughout, discredited liberal and democratic ideas, and undermined cooperation set up in Versailles. However, the world war soon had erased much of the suffering of the Great Depression from European collective history, and it is seldom
mentioned.
with high unemployment and fall of the economy. An excerpt from a historian, Irene Guenther described the hardship in germany. Stating, “Germany appeared to be on the brink of civil war. The young Weimar Republic was wracked by armed street fighting waged mainly between Communists and Nazis. Foreclosures, bankruptcies, suicides and malnourishment all skyrocketed. Six million Germans, 40 per cent of the working population, were unemployed; and thousands found themselves without a place to live… As anxiety and fear gripped the masses of unemployed men, blatant prejudices resurfaced against full-time female workers. Women were urged to give up their jobs and return home to their traditional roles as wives and mothers. Some of them gladly complied. Others were despondent, either because of their financial need to work or because they worried that the few advances made by women would be permanently stifled.” (AlphaHistory.com) Besides the struggle of Germany, all European countries had a less collapse than Canada and US and the crisis lasted shorter time.
Economy didn’t experience noticeable decrease until 1930-1931 and the deepest fall was reached in 1933. Then problem with Great Depression in Europe was bigger when the problem between France and Germany arose in 1932. To stop economic union between Germany and Austria, France undermined Austrian banking, which led to a banking crisis hitting all of Central Europe. France, Czechoslovakia, UK, and Poland was hit with less of the depression with their unemployment had not yet reached over 13% there. The trade rivalries and tariffs had created bad blood among unions, but also forced countries to seek open economic policy with Germany. Overall, the Great Depression weakened political system across Europe causing trouble throughout, discredited liberal and democratic ideas, and undermined cooperation set up in Versailles. However, the world war soon had erased much of the suffering of the Great Depression from European collective history, and it is seldom
mentioned.