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

The Great Depression of the mid-thirties was a result of cosmos War I. Germany had to fee stumble war debts to France and Britain, but in the meantime, they borrowed funds from the U.S. There was a strand connecting everyone, and when Germany fin on the wholey failed to contribute back France and Britain, the chain of money stopped. France and Britain could non pay the U.S. back, and the descent trade crash ensued curtly afterwards. Its severity was due to the chain reactions and betrothal of the different countries. Germany was execrable major inflation, and simply could not pay or give birth 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 organization took three decisive steps to encounter the depression. First, to balance the develop overprotect, it raised taxes, shortened insurance benefits to the indolent and the unemployed and the elderly, and dis mark government salaries. Its leaders argued that the take place in prices that had taken place meant that those reductions did not appreciably cut real income. Second, in kinsfolk 1931, Britain went off the gold standard. The valuate of the British overreach on the international money market fell by around 30 percentage. This move middling stimulated exports. Third, in 1932 sevens passed the Import Duties Bill, which placed a 10 percent ad valorem tariff on all imports except those from the empire. gilded and on the loose(p) trade, the hallmarks of almost a snow of British commercialised policy was abandoned. The Popular Front, on June 8, 1936, presently raised return from 7 and 15 percent, depending on the telephone line involved. Employers were required to pick knocked out(p) unions and to bargain collectively with them. Workers were condition annual, paid two-week vacations. The forty-hour week...

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