Depression Essay Research Paper The Great Depression

De [ pression Essay, Research Paper

The Great Depression, the worst economic ruin of all time in United States history, began tardily in 1929. Purportedly triggered by the stock market clang. It lasted for about a decennary. The chief cause for the depression was the combination of the greatly unequal distribution of wealth throughout the 1920s and the extended stock market guess that took topographic point during the latter portion of that same decennary. The annihilating economic losingss of the thirtiess were non limited merely to the United States: the effects were besides felt in Europe. While Americans were thriving in the 1920s, Europeans were fighting to reconstruct themselves after World War I. Factories, places, and farms had been destroyed in the war. George Orwell provinces? several hundred work forces risk their lives and several hundred adult females scrabble in the clay for hours? seeking for bantam french friess of coal? so they could heat their places. The war even devastated European concerns. Duties such as the Fordney-McCumber Act of 1922 and the Hawley-Smoot Duty of 1930 made Europeans unable to sell sensible measures of their ain goods in the United States. States such as Britain, Italy, France, Belgium, Russia, Yugoslavia, Estonia, and Poland borrowed money from the United States authorities in order to back up themselves. By clip the

1930s came about and the war had passed, these countries were in no economic position to repay their debts. In Britain, the Conservative party tried to increase the amount of exports by decreasing the value of the pound. They also lowered interest rates on loans in order to gain the interest of industry. These Conservative ideas failed. Unemployment started to drastically decline when Britain began to rearm. Whereas Britain suffered severe economic problems before the Great Depression, France was for the most part prosperous. ?Industrial and agricultural production expanded, tourism increased, and the currency was stable. ? France felt the effects of the Great Depression by the decline in trade and production as well as the increase in unemployment. The policies of the New Deal relieved the situation at hand, but complete recovery from the depression came about only with the heavy defense spending in the 1940s. The Great Depression is a broad subject viewed by numerous aspects. All of which go into great detail. No matter how you depict the harsh time in economic history, the bond between the effects of the United States and of Europe can be described as follows: The weak international economy of the 1930s. Europe was reliant upon U.S. loans to buy U.S. goods, and the U.S. needed Europe to buy these goods to prosper.