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1929– TheCRASH
Aim:HowdidtheWallStreetCrashleadtothegrowthoftheNaziParty?
WhatissuesdidtheWeimarRepublicfacein1928?
Internationalrelations
Extremism
Loans
Economy
Locarno,Kellogg-Briand,LeagueofNations
RemainedonthefringeofsocietyasGoldenAgeincreasedsupportforWR.
MoneybeinginputfromDawesPlan,butsignsofproblemsinfarmingandindustry.
NegotiatedrepaymenttermswithUSA– delayedreparations(YoungPlan)
“Wearetodayinthemiddleofthegreatesteconomiccatastrophe…ofthemodern
world…
TheviewheldinMoscowisthatthis…isthelastcrisisofcapitalismandthatourexisting
orderwillnotsurvive.
Thereisapossibilitythatwhenthiscrisisislookedbackon…itwillbeseentomarkone
themajorturningpoints.”JohnMaynardKeynes,1931
Whatistheviewofthisinterpretation?
Stickthesediagramsintoyourbooks
ImpactoftheGreatDepression:• Forthislesson,asitissoimportantasaturningpoint,yournotesneedtobeorganisedintotothefollowingcategories:
• ECONOMY/BANKS• WORKERS• GOVERNMENT• BUSINESSES• RISEOFEXTREMEPARTIES(Left&Right)
ImpactoftheGreatDepression
EconomyWorkersGovernmentBusinessExtremismEg:
Oramindmapifyouprefer
• Americarecalledit’sloans– Germanbusinessescouldnotaffordtorepayandmanycloseddown.
• Germanbusinessescouldnotselltheirgoodscausinglowerproductionandfinancialhardship.
• Factoriescloseddownandmillionslosttheirjobs–unemploymentrosefrom8.5%in1929toalmost30%in1932.
• Wellover6millionGermanswerehomeless,shantytownsgrewasdidviolenceandtheft,thepeopleweredesperate
• Triedhard,butunsuccessfully,tofighttheDepression.
• Theonlywaytohelptheunemployedandpoorwastoprintmoremoney– REMEMBERHYPERINFLATION!!!!
• Unabletoprintmoney,theBruning raisedtaxes.Althoughthisgaveitmoneytohelpthepoor,itwasabigproblemforbusinessesandtheeconomy.
• Reducedwagesofgovernmentworkers.Thisalsohelpedthepoorbutmeantevenmorewereunabletosurvive.
• ChancellorBruning wasforcedtoreduceunemploymentbenefit,leadingtoEVENMOREHARDSHIP.
• Bruning wasforcedtoresigninMay1932
Stresemannhaddiedonlyamonthbeforethecrashleavingnostrongleadershipinthecrisisleadingtoacoalitionofchaos.
TheGovernmentwereblamedforthehardships.
MoreandmoreGermanslistenedtotheextremistpartiesthatcriticisedtheGovernmentandpromisedtosolvethecrisis.
Bruning askedPresidentHindenburgtoinvokeARTICLE48andreducetheneedfortheReichstagtoagreeonnewlaws,going
from5 in1930to 44in1931and 66in1932.
Communistsblamedcapitalism,NazisblamedtheJews,GovernmentandCommunists
Peoplerushedtothebankstowithdrawtheirmoneyleadingtobanksgoingbustaddingtothecrisisevenfurther
GermanBusinessmen
• ManybusinesseswereforcedtocloseastheyreliedheavilyonUSloans.
• Governmentincreasedtaxestopayforhelpingunemployed.
GermanWorkers
• Manyworkers&farmerslosttheirjobs.
• By1932,6millionunemployedincluding40%offactoryworkers.
• Unemploymentbenefitcut&manyfamiliessufferedterriblepoverty.
•Wageswentdownforthefewjobstherewerebyupto70%
GermanYoungPeople
• Byendof1932,halfofGermansbetween16-30wereunemployed!
• Thisincludedover60%ofuniversitygraduates.
WeimarRepublic
• MostGermansblamedtheWeimarGovernmentforallowingGermaneconomytobecometoodependentonUSloans.
• Criticised forfailuretodealwithworsteffectsofthedepression,especiallyhighunemployment.
EffectsoftheGreatDepression
TheGreatDepression
Why was Hitler so happy in 1930?
GREAT DEPRESSION DEATH OF STRESSEMAN
Lookbackatyour25PointProgramme.
WhatsectionsmightappealtoGermansduringthe
Depression?
KPD NSDAPModerate/Centrepartiesfailedtodealwiththecrisis
GeneralElections1928-32
May1928
Sept1930
July1932
SPD 152 143 133
NSDAP 12 107 230
KPD 54 77 89
WorkersangryandsufferinghardshipswereattractedtotheCommunistParty,withamillionextravotesby1932astheyfelttheyweretheonlypartywho’ddefendjobsandwagesagainstlandownersandemployers
Mainreasons:- Risingunemployment- Fallingwages
AsmostGermans(middle/Upperclasses)wereafraid ofCommunismandhadturnedtheirbackoncentralparties,theonlyrealalternativewastheNazis
Mainreasons:- Fearofsufferingunderacommunistgovernment- WorriedaboutlosingtheirlandandcompaniesfromaCommunistgovernment- Appealofthe25pointprogrammegrew