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TheGreatDepression 1

The global depression in the 1930s was unprecedented in its worldwide impact, affecting countries on every continent. Overproduction led to declining prices and rising unemployment in industry and agriculture. Protectionist policies failed to work as planned and instead reduced global trade throughout 1931-1934. Germany's post-WW1 requirement to pay massive war reparations severely hampered its economic recovery. By 1933, when the depression peaked in the US, around 15 million Americans were unemployed and nearly half of US banks had failed due to the stock market crash and related economic issues. The depression destabilized European politics and fueled nationalism and rise of Hitler in Germany. Franklin Roosevelt responded with the New Deal in US while Germany saw the rise of a military dictatorship under

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46 views

TheGreatDepression 1

The global depression in the 1930s was unprecedented in its worldwide impact, affecting countries on every continent. Overproduction led to declining prices and rising unemployment in industry and agriculture. Protectionist policies failed to work as planned and instead reduced global trade throughout 1931-1934. Germany's post-WW1 requirement to pay massive war reparations severely hampered its economic recovery. By 1933, when the depression peaked in the US, around 15 million Americans were unemployed and nearly half of US banks had failed due to the stock market crash and related economic issues. The depression destabilized European politics and fueled nationalism and rise of Hitler in Germany. Franklin Roosevelt responded with the New Deal in US while Germany saw the rise of a military dictatorship under

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The Global Depression

Document A

1. (text box) How was the global depression in the 1930’s different than
previous economic downturns?

Unlike previous economic downturns which generally


were confined to a handful of nations or specific regions. Africa, Asia, Australia, Europe, and North and
South America all suffered from the economic collapse.

2. What was the result of overproduction in industry and agriculture?

Caused pisces to decline and unemployment to increase

3. What was the idea of “protectionism” and how did it not work out as planned?

Designed to protect American businesses against European Competition. But it also led to the decrease in
imports and exports of goods between the US and Europe.
4. (graphs) How would you describe trade in the U.S. and world between 1931-1934?

Much like the rest of the world US trade was at a all time low

5. (Cartoon) Do you agree that Germany should have been monetarily responsible for all the damages that
occurred during World War 1? Why or why not?

In my opinion Germany shouldn't have had all the responsibility placed on itself, because if Germany didn't have to
pay as much it probably would have led to WW2 not even happening, as that was one of the reasons Hitler came to
power.

6. How might Germany being forced to pay billions in war reparations impact their rebuilding economy in the post
war period?

It affected their economic recovery greatly, because forced Germany to pay a bunch of money it didn't have and
caused there economy to crumble.

Document B

7. (Text Box) Describe unemployment and the situation with American banks in 1933.

By 1933, when the Great Depression reached its peak, some 13 to 15 million Americans were unemployed and nearly
half of the country’s banks had failed

8. Using complete sentences, summarize the economic causes of the Great Depression.

The Stock Market Crash of 1929 resulted in a $30 billion loss in just four days. This was due to a
combination of factors, such as bank failures resulting from farmers’ inability to pay back loans,
overproduction of business and farm goods in the United States, an uneven distribution of wealth in the
United States, and a lessened demand for consumer goods.

9. What happened to the Dow Jones (stock market) on “Black Tuesday”?

It made a sharp decline and crashed.

10. (Graph) How many banks had failed by 1934 and what happened to peoples savings once that happened?

Over 4000 banks had failed by 1934 and all the people's savings had vanished

11. (Graph) Describe the attitude people likely had in the 1920’s as they invested their money in the stock market?

They most likely had the mindset of “Buy low, Sell high, Free money“

Document C

12. (text box) How were European politics impacted by the depression?

The economic hardships of the Great Depression led to destabilization of European politics. The

nations one by one, led first by the United States and then Britain, turned inward to try to solve

their problems apart from other nations. The lack of economic and political cooperation fueled the

growth of nationalism.

13. (text box) How did the depression and “nationalism” impact politics in Germany?

This trend of “Nationalism” had major effects for the world economy and politics. Most

notably the National Socialist party grew rapidly in Germany bringing with it a new ruler, Adolf

Hitler.

14. Summarize how the U.S. government responded to the Great Depression under the leadership of Franklin
Roosevelt.
Franklin Roosevelt's New Deal aimed to create jobs and start a recovery through public works projects, government
agencies providing financial aid to businesses and farms, and welfare and relief programs such as Social Security.

15. Summarize how Germany responded.


Military dictatorship resulted from economic collapse and militarism was used to reduce high unemployment by outlawing
labor unions. This allowed the government to control the labor market and keep wages low, while also ensuring that the
military had a large pool of potential recruits.

16. (chart) Describe U.S. federal spending between 1931 and 1936.
From 1931 and 1936, Federal spending more than doubled.

17. Identify and explain the purpose of at least three New Deal programs.

1. Civilian Conservation Corp: Provided young men jobs on environmental conservation projects

2. Works Progress Administration: Gave the unemployed work, work specifically on construction and art projects

3 .National Labor Relations Board: Enforced the rights of workers and unions

Document D

18. (text box) Describe the situation in Germany following France occupying the Ruhr valley and the American banks
withdrawal of loans.
In 1923, France occupied the Ruhr Valley in Germany due to Germany's inability to pay war reparations. This caused American banks
to withdraw their loans to Germany, resulting in businesses closing, unemployment rising, and inflation becoming rampant. The German
money had become so devalued that it took a large amount of money to buy even the smallest items.

19. (Image 1) What do you find surprising in the image?


That there is a large pile of cash, or a large pile of something the image isn't very clear.

20. (Image 2) In 1918 one gold German mark was worth about 1 paper mark. How much was one gold mark worth in
paper marks in 1923?

One gold mark was worth 1 trillion in paper marks

21. (Image 3) Define the term “hyperinflation” and explain how it relates to the price of a loaf of bread between
1918-1923 in Germany.

Hyperinflation is inflation that is very high and out of control, and it relates to the price of bread in germany
because it jumps from 1 mark to 200 billion marks in a very short amount of time, hence the out of control and
fast part

22. (Image 4) Which two countries had the highest unemployment of industrial workers in 1933?

The two highest counties with the highest unemployment of industrial workers in 1933 were, the US and
Germany

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