However it can be argued that the roots of Hitler’s appointment as Chancellor in January 1933 lie in the disaster of the Wall Street Crash of 1829 and the subsequent depression. This economic crash and the rise in unemployment had the important effect of further polarising German politics. The fact that Germany’s growth in the 1920’s had been funded by American capital which was now forced to withdraw hit Germany’s industry hard. Furthermore it was unemployment and the consequential insecurity that so undermined confidence in the present structures. By 1933 over 6 million German workers were unemployed.
Belchem (2006) explains, despite having a national implication, the impact of the depression of the 1930’s was focused primarily on Northern Ireland, Scotland, Wales and Northern England. Aughton (2008) points out that Liverpool’s once strong trading connections with America would now cost the City dearly. He continues that the cessation in export from the recently thriving port subsequently led to underemployment for the few and unemployment for the masses. Aughton (2008) continues that poverty, although already in existence spread like wild fire throughout the City of Liverpool and overcrowding and poor conditions increased significantly. Helen Forrester (1974) elaborates in her autobiographical text ‘Twopence To Cross The Mersey’ that her family had journeyed to Liverpool naively in the hope of finding work in the once prosperous City but were confronted with the reality of no jobs, seven to a room overcrowing, in overpriced and squalid living conditions.
Many historians believe that the immediate cause of The Great Depression was the Stock Market Crash in the fall of 1929. That event occurred on October 29, 1929; also known as Black Tuesday. It also marked the end of the era known as The Roaring Twenties. On that day stocks plummeted to an all-time low, causing mass devastation. However like history has shown, a time of economic prosperity, like the Roaring Twenties, result in a depression.
Effects and Results of the Great Depression During the year of 1929 a tragic event happened that affected the United States of America for the worst. This event is known as the American Great Depression. It was a crash in the stock market that sent the United States into an economic downfall of the greatest proportion. This occurrence lasted from 1929 up until 1941, when the United States supposedly wasn’t in the war. Thus these are basic events leading to and resulting from the stock market crash of 1929.
During the Great Depression, the highest unemployment rate peaked at 25%. Prior to Roosevelt's presidency and thus the New Deal, millions of men and women roamed the street or occupied Hoovervilles, with the number of women out of jobs and suffering poverty nearly equal to that of the men (DOC A). This shows that prior to the New Deal, assistance for the unemployed and the poor was insufficient and little attention was paid to their sufferings, as they were simply
Most often used starting date of the great depression was the stock market crash on October twenty ninth nineteen twenty nine, also known as black Tuesday. The great depression lasted for about ten years which ninety thousand businesses were lost completely, twenty thousand people committed suicide, and fifteen million people lost their jobs and the ones who got to keep theirs the wages were cut by more than half.
By September 1930, the economy of Germany was in deep depression as a result of the Wall Street Crash of November 1929 and the recall of the American loans that had propped it up. Unemployment had rocketed to 3.1 million (15.3%), and the Weimar politicians seemed incapable of solving the problems. In this situation the Nazis began to be seen as a way out, and their support rose. They gained 107 Reichstag seats (18.5% of the total). By July 1932, the economic depression that
$2,000 marked the poverty line in 1929, and yet 60% of Americans made under this amount. This illustrates the immense unequal distribution of money throughout Americans in that only 40% could meet the bare minimum necessary to live. More than the majority of America was living in poverty, causing unemployment and failure to properly distribute money throughout the nation. This horrible situation plummeted the economy and Americans as a whole as well as individually, which makes I.t a main cause of The Great
As unemployment reached an all time high in 1933, this decade, was squished between the roaring twenties and World War II, and was left little to be highlighted other than the dismal consequences of the Great Depression. An all-time low in American confidence, the years between 1929 and 1940 tested the strength, courage, humility, and perseverance of those forced to suffer a quickly dropping economy. No longer did hard work transform into success or even hope. Middle class working families now joined the ranks of the poorer classes and farmers hit by the Dust Bowl in the 1920's. The enormous unemployment disrupted family structure as it forced the male provider shamefully into bread lines.