FOLLOW THE LEADER ADOLF HITLER Germany in 1930 In 1930 the Germanic social and economic situation was heading towards chaos. After the Wall Street Crash of 1929, the United States were forced to call back the money they had loaned Germany in 1924 and 1929, leaving the Weimar Republic with no resources to invest in the economy. The Germanic growth over the last years had been an illusion, as a great deal of the capital invested had been coming from overseas loans. As the money borrowed was paid back, Germany was once again facing bankruptcy. Unemployment, which was not a major issue in 1929, dramatically soared by September 1930 1.
Its was all going well as Germany was getting in a better state and they are paying their reparation until 1929. In October 1929 the Wall Street Crash was the beginning of a worldwide slide into the Great Depression. The effects were catastrophic, especially for Germany. American banks wanted their loans back as they needed the money themselves this caused the Germans businesses and banks to closedown and this caused unemployment. The number of people unemployed rose by five million from the start of the great depression1929 to when Hitler became chancellor in 1933.
Their plan was to use the money they were going to receive from Germany and Austria, but the Central powers never followed through. Financial collapse seemed everywhere, spreading like wildfire. In May 1931, the largest bank in Austria even collapsed. It was evident that the Depression had taken its toll. In 1930 President Roosevelt won election and started the New deal in hopes of turning American strife around.
The Great Depression: Did America Need it? Dawood Nadeem CHA3U1 Aside from the Civil War, the Great Depression was the gravest crisis in American history. Just as in the Civil War, the United States appeared—at least at the start of the 1930s—to be falling apart. But for all the turbulence and the panic, the ultimate effects of the Great Depression were less reassuring than revolutionary. I feel that the great depression was needed to shape the new Republic.
What Evans means by this is that the desperation of the people led them to polarising their votes and seeing radical leaders like Hitler as a solution to the mess that Germany had become. Hitler took advantage of this, and from there was able to play a huge role in the collapse of the Weimar Republic. The economic strain that Germany was placed under was also a major impact of the Depression on the collapse of the Republic. Firstly, the Depression had the obvious impact of the debt rising and the banking crises however, there were a number other impacts. Germany relied heavily on international trade for resources; almost one third of their resources came from overseas.
Even though these two Presidents were both in term during the Great Depression, the two Presidents seemed to have very different viewpoints on how to take control and terminate the Great Depression. Herbert Hoover was America’s thirty-first President and was in office from 1929 to 1933 until Roosevelt succeeded him in his run for a second term. When the Great Depression first started to come up into conversations Hoover just thought of it as a little bump in the economy. Hoover then believed it would heal itself and everything would be fine, but, never had a backup plan. About a month later, the Great Depression took action on the stock market and would cause it to crash and put America and other countries around the world into a huge crisis.
Was the Great Depression the main reason why the Nazi Party grew between 1929 and 1932? The Great Depression is the most significant reason because it made people turn to the extreme ring-wing and left-wing parties. The Wall Street crash sent stock markets plummeting in October 1929. In a very short time Germany were very badly affected. American businesses lost vast amounts of money and to repay the debt they asked German banks to repay the money they had borrowed.
The Great Depression Vs. The Great Recession: Battle of the Heavyweights Writing Assignment #3 Dominique Worthen Dr. Katherine W. Causey Human Resources BUAD 307 The main causes of both crises lie in actions of the federal government with the addition to careless spending of consumers. In the case of the Great Depression, the Federal Reserve, after keeping interest rates exaggeratedly low in the 1920s, raised interest rates in 1929 to halt the resulting boom. That helped choke off investment. Also, President Hoover signed into law the sky-high Smoot-Hawley Tariff, which subdued trade and damaged American exports throughout the 1930s.
The Great Depression was mainly in America but it also had effects on the German economy too. Between the years 1929 and 1932 the amount of world trade fell by around 70 per cent. The unemployment levels rose and wage cuts were made and many people were made homeless due to this, they were unable to pay their rent or their mortgages so many were reduced to instant poverty. Welfare was a problem with the depression, the right wing didn’t like the idea of welfare but some of the left wing parties did. This meant they were arguing over welfare, the fall of Muller government and what they would do with the benefit system.
Firstly, he emphasizes the economic suffering that GM (and the German population) had to endure during the few years after the 1929 stock market crash. He describes Germany as completely desolate, with unemployment staggeringly high. GM does do its part as a business to strengthen the German economy, and some, although not Turner directly, see GM as aiding the Nazis in their rise to power. He states in an earlier study that “The auto industry spearheaded the remarkable recovery of the German economy that boosted the popularity of the Nazi Regime by virtually eliminating within a few years the mass unemployment that had idled a quarter of the workforce and contributed so importantly to Hitler’s rise.” After GM suffered through those economically strife years, they eventually overcame the depression and went on to make an absurd amount of profits. However, the profits that they did make were locked into Germany, as Hitler would not release them for