The Great Depression
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- Beginning of the Great Depression (date)
- 24 October 1929
- Countries Australia borrowed money from
- Great Britain and USA (short term loans)
- Most of the money was spent on..
- Public works (less profit)
- People who struggled in the 1920s and 30s
- Returned soldiers, working class
- Main industrial problem
- Overproduction - people couldn't consume the large amount
- Great Britain stopped buying (from Australia)
- Wheat and wool.
- When did GB stop lending money to Australia?
- January 1929.
- Why did the Wall St market crash?
- People tried to sell their shares in panic, but banks ran out of money and closed down, leaving numerous crash victims
- Rates of unemployment
- Australia - 29% of workforce Germany - 6 mill USA - 18 mill
- Unemployeds' attempts to survive
- -Lining up in circular quay to find jobs -Soup kitchens and Salvos -Jump the rattler: sneak on trains to find work in the country
- Who else joined the workforce?
- Women. Difficult with children
- Places the evicted stayed
- -Streets -Tent cities -Caves
- Other effects of the Depression on Australians
- -Increased crime rate -Families split -Psycological damage
- The year the world fully recovered from the Great Depressions
- 1939