The wall street crash and effect on Germany

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Last updated 9:56 AM on 4/13/26
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13 Terms

1
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What happened during the Wall Street Crash? (4 things)

  1. Share prices fell

  2. Shareholders tried to sell their shares all at once

  3. Price of shares plummeted because there were so many available

  4. The economy crashed

2
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When was the Wall Street Crash?

24th - 30th Oct 1929

3
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How much money was lost by investors by 30.10.1929?

$4 billion

4
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How much did the price of shares drop on the 24th Oct?

Shares worth $24000 dropped to only $1000

5
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Why did the Wall Street Crash affect Germany if it crashed the US economy?

The Dawes and Young plan connected Germany to the USA (The USA loaned out money to Germany).

6
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What did the USA then do that affected Germany? Why?

The USA began to recall their loans. German businesses were massively dependant on these loans. German businesses also had shares in US businesses.

7
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What happened after the US recalled the loans?

Many German businesses went bankrupt, and lead to mass unemployment. There was also a drop in demand for German products as nobody could afford it.

8
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How many people were unemployed in Germany by September 1931? (Number and percentage)

4.3 million

50% of 16-30 year olds didn’t work

9
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How much did production fall by by the time it was 1932?

Production was only 58% of was it was in 1928

10
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What effects did unemployment have on the public? (5 things)

  • Taxes rose for workers

  • Value of wages dropped by 30% from average 1928 wages

  • Value of savings dropped massively, so people could no longer rely on or use their savings

  • Unemployment benefits cut by 60% by Chancellor Brüning.

  • The arrests for theft increased by 24% in Berlin

11
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What were the political effects of the Wall street Crash?

  • The Weimar government was blamed for linking the German economy to the USA

  • Brüning lost support from the Reichstag, and had to enact article 115 so that he could rule like a dictator

  • Extremism grew in popularity

12
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What were the promises of the two largest extremist political parties?

  • NSDAP (Nazis): said they’d reverse the ToV

  • KPD: promised to improve unemployment and work conditions

13
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How much did the NSDAP gain in the Reichstag in Sept. 1930?

They had 10x the seats they had before, at 107 seats