"Europe and the Great Depression of the 1930s" - Study Notes

The Great Depression of the 1930s was a result of public War I. Germany had to fee off war debts to France and Britain, but in the meantime, they borrowed money from the U.S. There was a string connecting everyone, and when Germany fin each(prenominal)y failed to salary back France and Britain, the chain of money stopped. France and Britain could non pay the U.S. back, and the burgeon forth market crash ensued shortly afterwards. Its severity was due to the chain reactions and betrothal of the different countries. Germany was suffering major inflation, and simply could not pay or make up its debt to the other countries. If France and Britain were evenly charge for the war, it may not have happened, because Germany would not be accompaniment the countries economically. The National Government took three decisive locomote to encounter the depression. First, to balance the bud overprotect, it raised taxes, abbreviated indemnification benefits to the indolent and the unemployed and the elderly, and lowered government salaries. Its leaders argued that the polish in prices that had taken place meant that those reductions did not appreciably cut real income. Second, in September 1931, Britain went off the gold standard. The pass judgment of the British overreach on the international money market fell by about 30 percentage. This move sensibly stimulated exports. Third, in 1932 Parliament passed the Import Duties Bill, which placed a 10 percent ad valorem tariff on all imports except those from the empire. gilded and free trade, the hallmarks of almost a degree Celsius of British commercialised policy was abandoned. The Popular Front, on June 8, 1936, in a flash raised return from 7 and 15 percent, depending on the subcontract involved. Employers were required to pick out unions and to bargain collectively with them. Workers were prone annual, paid two-week vacations. The forty-hour week...

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