Please help improve this article by adding citations to reliable sources.
Great Depression Begins When the stock market collapsed on Wall Street on Tuesday, October 29,it sent financial markets worldwide into a tailspin with disastrous effects.
Fallout from the Great Depression - A young and hopelessly unemployed Berliner panhandles for spare change. A run on a bank in Berlin.
May Day brings a huge turn-out of pro-communist Berliners expressing admiration of Soviet Russia. The German economy was especially vulnerable since it was built upon foreign capital, mostly loans from America and was very dependent on foreign trade.
When those loans suddenly came due and when the world market for German exports dried up, the well oiled German industrial machine quickly ground to a halt.
As production levels fell, German workers were laid off. Along with this, banks failed throughout Germany. Savings accounts, the result of years of hard work, were instantly wiped out. Inflation soon followed making it hard for families to purchase expensive necessities with devalued money.
Overnight, the middle class standard of living so many German families enjoyed was ruined by events outside of Germany, beyond their control. The Great Depression began and they were cast into poverty and deep misery and began looking for a solution, any solution.
Adolf Hitler knew his opportunity had arrived.
In the good times before the Great Depression the Nazi Party experienced slow growth, barely reachingmembers in a country of over sixty million. But the Party, despite its tiny size, was a tightly controlled, highly disciplined organization of fanatics poised to spring into action.
Since the failed Beer Hall Putsch inHitler had changed tactics and was for the most part playing by the rules of democracy. Hitler had gambled inattempting to overthrow the young German democracy by force, and lost. Now he was determined to overthrow it legally by getting elected while at the same time building a Nazi shadow government that would one day replace the democracy.
Hitler had begun his career in politics as a street brawling revolutionary appealing to disgruntled World War I veterans predisposed to violence. By he was quite different, or so it seemed. Hitler counted among his supporters a number of German industrialists, and upper middle class socialites, a far cry from the semi-literate toughs he started out with.
He intentionally broadened his appeal because it was necessary. Now he needed to broaden his appeal to the great mass of voting Germans. His chief assets were his speech making ability and a keen sense of what the people wanted to hear.
By mid, amid the economic pressures of the Great Depression, the German democratic government was beginning to unravel. He had spent years working to restore the German economy and stabilize the republic and died, having exhausted himself in the process. The crisis of the Great Depression brought disunity to the political parties in the Reichstag.
Instead of forging an alliance to enact desperately need legislation, they broke up into squabbling, uncompromising groups. Despite the overwhelming need for a financial program to help the German people, Chancellor Bruening encountered stubborn opposition to his plans.
To break the bitter stalemate, he went to President Hindenburg and asked the Old Gentleman to invoke Article 48 of the German constitution which gave emergency powers to the president to rule by decree. This provoked a huge outcry from the opposition, demanding withdrawal of the decree.
As a measure of last resort, Bruening asked Hindenburg in July to dissolve the Reichstag according to parliamentary rules and call for new elections. The elections were set for September 14th. Hitler and the Nazis sprang into action.
Their time for campaigning had arrived. The German people were tired of the political haggling in Berlin. They were tired of misery, tired of suffering, tired of weakness.Germany was, indeed, especially hard-hit by the Great Depression.
A major factor was the Treaty of Versailles, which was supposed to settle outstanding disputes following the cessation of hostilities in World War I. The role of The Great Depression in the history of the United States of America. Cycles of Prosperity and Depression in the United States, Great Britain and Germany: A Study of Monthly Data , Issues - Primary Source Edition [Alvin Harvey Hansen] on urbanagricultureinitiative.com *FREE* shipping on qualifying offers.
This is a reproduction of a book published before This book may have occasional imperfections such as missing or blurred pages. Did the s Depression cause the war?
There is no doubt that the Great Depression helped to bring war: Unemployment. Mass unemployment (eg Germany) and poverty (eg Japan silk workers) caused great anger = people put in power/accept right-wing, dictatorial governments who told them their country was superior and it was OK for them to take what they wanted by force.
The Great Depression was a worldwide economic slump that began as an American crisis. The s was a boom decade for American companies, which tallied up record production figures, ever-increasing sales and millions of dollars profit.
These profits meant high dividends and increasing share prices.
Great Depression, worldwide economic downturn that began in and lasted until about It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.