Causes of the great depression in australia essay
The New South Wales GovernorSir Philip Gameintervened on the basis that Lang had acted illegally in breach of the state Audit Act and sacked the Lang Governmentwho then suffered a landslide loss at the subsequent state election.
Janet McCalman found a similar complexity in the Melbourne suburb of Richmond in her book Struggletown. A sluggish economy in Britain naturally reduced British demand for imports from Australia throughout the s and this had affected Australia's balance of payments.
State governments viewed large groups of unemployed men in city areas somewhat fearfully, and moving them to the country was seen as a way to dissipate this perceived threat.
The USA had lent large amounts of money to other countries to help with their damages from the war. Some governments sought alternative sources of loan monies while others moved to guarantee farm income by setting a guaranteed minimum price on commodities such as wheat.
Causes of the great depression in australia essay
The greatest and longest occurred in the United States when the stock market crashed in October Some governments sought alternative sources of loan monies while others moved to guarantee farm income by setting a guaranteed minimum price on commodities such as wheat. This massive sell-up of shares was the catalyst for the Great Depression, which was to cripple the economy of the leading nations of the world for almost a decade. The Australian government could do little to change the effects of the slump and the tough economic times ahead. Erik Eklund 20 October Never again? When Wall Street crashed during , approximately 10 to 15 billion dollars were lost because the prices of the stock market which started to decrease rapidly in just 24 hours. Unemployed Australians[ edit ] For Australians, the decade of the s began with problems of huge unemployment, because the fall of the stock markets on Wall Street reduced confidence throughout the world. Children in the depression years where usually some of the worst off from the rest of white society, they usually wore sorry looking clothes that were made from lots of patches that have been sown together. To many Black Americans who lived in the south, it was the Un-oppressing the Impacts of Depression Essay words - 6 pages period the short term disability absences of major depression subjects. There were growing fears, real and imagined, of social and political breakdown. This was followed by months of sporadic and occasionally violent protest in the Western Australian capital. The Great Depression changed a generation, writes Erik Eklund, but can we be sure that all the lessons were learnt? Faced with the emerging crisis from the late s, and overwhelmed by the scale and complexity of the problem, governments tried a range of responses. Such strategies were actually grounded in the s, implemented in the desperate hope that somehow the world had not changed as dramatically as it had. This then caused the race to arrive first at the place of employment the first person to turn up was usually hired.
This was one of the most severe unemployment rates in the industrialised world, exceeded only by Germany. The influence was the strongest but not limited in the areas of social and political aspects of the country. The Great Depression, which lasted over a period of ten years, resulted in a lot of heartache for many nations worldwide Fraser, On the right, as politics lurched from one crisis to another and some saw even the sanctity of private property under threat, groups such as the New Guard and the All for Australia League lost faith in democracy itself and called for the installation of a strong leader who might restore order and control the communist menace.
By the end they were ready to just sit back and party.
How did the great depression affect australian families
Most governments reacted to the crisis with similar policies, aimed at slashing back government spending and paying back loans. Niemeyer met with Federal and State leaders at a conference in Melbourne where he recommended a traditional deflationary response of balanced budgets to combat Australia's high levels of debt and insisted that interest on loans be met. Widespread upheavals in the economy generated social dislocation, social and political conflict and, above all, human suffering. As shown in Document 8, Some people pay more for the same product. This was intended to ease entry of Australian goods into the British and other linked markets. It caused families a great deal of pain that they will never forget. It began six months earlier in the United States in after the stock markets in the New York Stock Exchange collapsed, and it dragged on until ; in fact, historians describe it as the worst economic depression of all time given its scope and impact. This debt was serviced by the Commonwealth which believed that it needed to restore financial confidence in Australia and that defaulting on loan repayments was the quickest way to destroy that confidence. Theodore did manage to include some proposals for raising further capital within the Plan, and even touted a more ambitious capital-raising exercise, which was ultimately thwarted by the Senate and the Commonwealth Bank board. On the right, as politics lurched from one crisis to another and some saw even the sanctity of private property under threat, groups such as the New Guard and the All for Australia League lost faith in democracy itself and called for the installation of a strong leader who might restore order and control the communist menace. Menzies was able to use the growth of the sheep population to offer favorable prices, increasing the amount of exports leaving Australia this helped bolster the economy.
For many, the sheer horror of the Great Depression lay in the fact that even respectable, sober and hard-working people could be made destitute.
The results of the crash were more serious than any other crash throughout American History. On the coalfields of NSW and Victoria workers lost between 10 and 20 per cent of their wages.
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