Wall Street Crash 1929
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4 Terms
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Black Thursday
24th October 1929
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Banking crisis in Germany
\-People rushed to demand their savings and some of the banks went bust and took loans from the industries which also bankrupted some industries. The economy collapsed
The Americans demanded for their loans back
The Americans demanded for their loans back
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Consequences
\-Vast unemployment
\-Trading of goods abroad fell as well
\-People stopped buying which lead to more unemployment \]-Taxes were raised
\-wages were cut
\-1933 6 million unemployed
\-All savings lost again as their savings were worth nothing
\-Slums and makeshift camps sprung up as people couldn’t afford rent
\-level of violence and theft increased
\-Trading of goods abroad fell as well
\-People stopped buying which lead to more unemployment \]-Taxes were raised
\-wages were cut
\-1933 6 million unemployed
\-All savings lost again as their savings were worth nothing
\-Slums and makeshift camps sprung up as people couldn’t afford rent
\-level of violence and theft increased
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Failures of Bruning
\-Increased taxes and cut unemployment benefit which annoyed everyone. Working class angry for no benefit and upper class angry for increases in tax
\-The social democrats wouldn’t support Burning
\-by 1932 only met 13 times
\-had to use article 48 which undermined democracy
\-Resigned in May 1932
\-The social democrats wouldn’t support Burning
\-by 1932 only met 13 times
\-had to use article 48 which undermined democracy
\-Resigned in May 1932
Note 
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