‘The Wall Street Crash was the main reason Hitler got into power’. Do you agree? When the Wall Street stock market crashed in 1929 America’s economy was plunged into a depression. This had a big impact on Germany’s economy, as they relied on the loans from America, and was a big reason in the Nazis coming to power. However there were many other factors that contributed towards the Nazis rising to power, for example Propaganda, the weakness of the opposition and the role of Hitler.
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.
How far do the levels of unemployment in the Weimar Republic explain the rise of the Nazis to power? One explanation of Hitler’s rise to power is to be found by analysing the relationship between unemployment in Germany and the votes received by the Nazi Party and as will be explained, there is a big relationship between them. In May 1924, the economic crisis in the Weimar Republic was at its height. Hyperinflation was rampant and unemployment stood at 2 million (13.5%), its peak for the period,. In this context the Nazis fought their first election and achieved a very creditable 32 seats in the Reichstag (6.7% of the total).
The film ‘Cabaret’ gives many indications as to why the Nazis became increasingly important in Germany in the early 1930s. The film mercilessly depicts Berlin in the last days of the weakening Weimar Republic, exhibiting some of the circumstances and events which led to Nazi popularity. The first of these was the economic situation and effect of the Depression on German citizens. The film also investigates the increase in Anti-Semitism, internal threats such as communism and the methods which the Nazi Party used in order to contain these threats. Following the Wall Street Crash of 1929, the German economy was in a horrendous state.
Later on President Hoover passed the Hawley-Smoot Tariff of 1930 which raised duty on non-free goods to nearly 60%. This angered foreigners, reversing a promising worldwide trend toward reasonable tariffs and widening the trade gaps. It was designed to assist the farmers, but instead plunged both America and other nations deeper into the depression that already began with the Stock Market Crash of 1929. It increased international financial chaos and forced the United States into economic
The 1920’s in America was an incredibly prosperous time for the nation. America saw drastic economic, political, and cultural change in an age known as “The roaring twenties”. Rapid industrial growth and production, matched by increased consumer demand saw the nation's total wealth double in total from 1920-1929. By 1930, this prosperity had run out and severe economic problems struck the nation. The economy plummeted and everyone felt the effects of it .The severe downfall of the American economy in the 1930’s known as the Great Depression was the result of speculation and installment buying, income maldistribution, and overproduction throughout America.
The Wall Street Crash in 1929 was important in getting the Nazi’s into power because the crisis was catastrophic in Germany as it caused unemployment to increase to 3 million. Nearly everyone was affected by the unemployment. Since most of the unemployed were men, they could see no way to provide for their families. As the German democratic government was beginning to unravel as they were struggling to control the economy. This made people give up hope on the democracy as it was not working and caused people to resort to extremist groups which made the Nazis seem like they were the solution to the problem.
The depression originated in the United States, starting with the fall in stock prices that began around September 4, 1929. Shortly after President Roosevelt was inaugurated in 1933, famine and corrosion combined to cause the Dust Bowl, which shifted hundreds of thousands of displaced persons off their farms in the Midwest. “From his inauguration onward, Roosevelt argued that restructuring of the economy would be needed to prevent another depression or avoid prolonging the current one. New Deal programs sought to stimulate demand and provide work and relief for the impoverished through increased government spending and the institution of financial reforms.” Although Roosevelt did not entirely solve the economic crisis, he did take a step in the right direction to minimize
New Deal Essay The depression caused by the 1929 Wall Street stock market crash crippled the American economy, deflated the optimistic outlook most Americans thought to be their birthright and tarnished the values by which the country’s businesses, farms, and government were run. During the next decade, the momentum of the Great Depression impeded their attempts to make ends meet. The Depression affected essentially every aspect of American life. The New Deal was somewhat effective in getting the United States out of the Great Depression. In the source titled, “A New Deal for the American People”, the author, Roger Biles supports the importance of New Deal programs in creating economic stability and preventing another depression from happening in the future.
When the stock market crashed, it immediately affected the economy in the matter of a few hours. At this time President Herbert Hoover was in office, and he was overwhelmed with the tragic situation. During his Presidency, he did his best to fix the economy. However, things did not begin to get better until Franklin D. Roosevelt took office in 1932. Roosevelt immediately began reconstruction on the American economy.