Monday, May 20, 2013

"Europe and the Great Depression of the 1930s" - Study Notes

The Great Depression of the mid-thirties was a result of origination War I. Germany had to fee attain war debts to France and Britain, but in the meantime, they borrowed currency from the U.S. There was a set up connecting everyone, and when Germany fin all(prenominal)y failed to wage back France and Britain, the chain of money stopped. France and Britain could non pay the U.S. back, and the depot commercialize crash ensued presently afterwards. Its severity was due to the chain reactions and betrothal of the different countries. Germany was anguish major inflation, and simply could not pay or strive up its debt to the other countries. If France and Britain were every bit charge for the war, it may not have happened, because Germany would not be accompaniment the countries economically. The National governance took three decisive step to encounter the depression. First, to balance the develop overprotect, it raised taxes, cut up amends benefits to the indolent and the unemployed and the elderly, and let down government salaries. Its leaders argued that the go under in prices that had taken infinite meant that those reductions did not appreciably cut real income. Second, in phratry 1931, Britain went off the gold standard. The time value of the British overreach on the international money market fell by intimately 30 percentage. This move slimly stimulated exports. Third, in 1932 fan tan passed the Import Duties Bill, which placed a 10 percent ad valorem tariff on all imports except those from the empire. gilded and loose trade, the hallmarks of almost a coulomb of British commercialised indemnity was abandoned. The Popular Front, on June 8, 1936, promptly raised return from 7 and 15 percent, depending on the ancestry involved. Employers were required to pick turn up unions and to bargain collectively with them. Workers were accustomed annual, paid two-week vacations. The forty-hour week...
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