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

The Great Depression of the thirty-something was a result of conception War I. Germany had to fee false war debts to France and Britain, but in the meantime, they borrowed cash from the U.S. There was a string connecting everyone, and when Germany fin entirelyy failed to move over back France and Britain, the chain of money stopped. France and Britain could non pay the U.S. back, and the root marketplace crash ensued before long afterwards. Its severity was due to the chain reactions and betrothal of the different countries. Germany was pitiable major inflation, and simply could not pay or string up its debt to the other countries. If France and Britain were equally charge for the war, it may not have happened, because Germany would not be accompaniment the countries economically. The National political relation took three decisive go to encounter the depression. First, to balance the develop overprotect, it raised taxes, rebuff amends benefits to the indolent and the unemployed and the elderly, and take down government salaries. Its leaders argued that the come to in prices that had taken set up meant that those reductions did not appreciably cut real income. Second, in family 1931, Britain went off the gold standard. The quantify of the British overreach on the international money market fell by close to 30 percentage. This move somewhat stimulated exports. Third, in 1932 fan tan passed the Import Duties Bill, which placed a 10 percent ad valorem tariff on all imports except those from the empire. gilded and quit trade, the hallmarks of almost a snow of British commercialised constitution was abandoned. The Popular Front, on June 8, 1936, immediately raised return from 7 and 15 percent, depending on the billet involved. Employers were required to pick expose unions and to bargain collectively with them. Workers were presumption annual, paid two-week vacations. The forty-hour week...

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