Research Task:
Why was Germany hit the hardest during the depression?
Germany was seriously affected during the great depression because the American stock market in 1929 took an economic downturn. Wall Street crashed. It led them to take action to call in all the foreign loans at short notice. Those are signed and agreed upon under the Dawes Plan. Dawes Plan was an international agreement signed in 1924 (after WW1 ended) for Germany to pay the reparations (that resolved WW1) loans from the USA banks. Therefore, without the loans provided by the US for Germany to pay the reparations, the German industry would (did) collapse. After the US calls in the loan, the German production loses its finance, lowers production, and lays off workers. Many people were unemployed due to the industrial revolution and further low production. There were about 2 million people unemployed because of this. Prices soon dropped, the demand fell and made the industry lose more money. As a result, the country was seriously affected by the great depression.
Resources: Link
Explain what Germany had to agree to by signing the Treaty of Versailles?
The Treaty of Versailles is a national peace agreement signed by the victorious Allied powers (Great Britain, France, Russia, Italy, Romania, Japan and the United States) and Germany. Germany had to agree to the terms and conditions written in the Treaty of Versaille. The Treaty of Versailles held Germany responsible for starting the war and forced (by law) harsh penalties in terms of loss and destruction of land areas and territories. Furthermore, the massive reparation payments cost 132 billion gold marks ($33 billion US dollars) which took 92 years to pay off (1919-2010) because of the Great Depression. Lastly, they also took action to reduce the number of Germany’s military forces. The purpose is to take ‘power’ off Germany. These terms and conditions seemed unfair to Germany as they believed that they didn’t start the war and shouldn’t be the only one to hold accountable for all of it. Therefore, this only caused more conflict and soon was the reason for the start of WW2.
Resources: Link
How was NZ affected by the depression?
When the great depression occurred, New Zealand wasn’t really affected at first by the depression. The effects of the crash were not immediately seen or obvious. However, from 1930, export prices began to quickly drop, falling 45% by 1933. To a country almost completely dependent on farming-based exports, this was terrible and destructive. By the end of 1930 city-based businesses and manufacturers were feeling the flow-on effects. Moreover, the national income dropped by 40%. Thankfully, George William Forbes as prime minister (1930-1935) has led NZ out of the harsh economy of the 1930s Great Depression.
Resources: Link
Explain what Germany had to agree to by signing the Treaty of Versailles?
The Treaty of Versailles is a national peace agreement signed by the victorious Allied powers (Great Britain, France, Russia, Italy, Romania, Japan and the United States) and Germany. Germany had to agree to the terms and conditions written in the Treaty of Versaille. The Treaty of Versailles held Germany responsible for starting the war and forced (by law) harsh penalties in terms of loss and destruction of land areas and territories. Furthermore, the massive reparation payments cost 132 billion gold marks ($33 billion US dollars) which took 92 years to pay off (1919-2010) because of the Great Depression. Lastly, they also took action to reduce the number of Germany’s military forces. The purpose is to take ‘power’ off Germany. These terms and conditions seemed unfair to Germany as they believed that they didn’t start the war and shouldn’t be the only one to hold accountable for all of it. Therefore, this only caused more conflict and soon was the reason for the start of WW2.
Resources: Link
How was NZ affected by the depression?
When the great depression occurred, New Zealand wasn’t really affected at first by the depression. The effects of the crash were not immediately seen or obvious. However, from 1930, export prices began to quickly drop, falling 45% by 1933. To a country almost completely dependent on farming-based exports, this was terrible and destructive. By the end of 1930 city-based businesses and manufacturers were feeling the flow-on effects. Moreover, the national income dropped by 40%. Thankfully, George William Forbes as prime minister (1930-1935) has led NZ out of the harsh economy of the 1930s Great Depression.
Resources: Link
