Wall Street Crash Flashcards
When was the Wall Street Crash?
October 1929
Why did the Wall Street Crash occur?
The Wall Street Crash occurred because in October 1929 the Wall Street stock market crashed. People rushed to sell their shares before the shares value was lost.
How did the Wall Street Crash spread to Germany?
The Wall Street Crash affected Germany because USA recalled their loans to Germany. This left Germany bankrupt. Also, international trade stopped, this led to Germany having no funds. Germany did not have any money so factories closed and workers were sacked. The government stopped unemployment benefit, this led to poverty.
Who was affected and how?
Businessmen, farm workers, factory workers, young people and middle class people were affected. Businessmen saw their businesses close, this led to factory workers being unemployed. Farmers weren’t doing well to begin with so the Wall Street Crash led to them getting further into debt, forcing them to sell their land. Young people could not find work and by 1933, over half of the German people between ages 16-30 were unemployed. Middle class people lost their businesses, savings and investments.
How did the Nazis try to help?
The Nazis offered work and bread to all of the unemployed. They promised to bring in a better army and structure a better economy. By this time, the German people were fed up of the economy crashing and just wanted someone to blame. They also felt threatened by Communist gangs on the streets, the Nazis promised to change this.
How did the Wall Street Crash help Hitler become chancellor?
By 1932, 6 million people were unemployed, businesses were bankrupt and farmers were out of business. This led to German people turning to extremist parties. Hitler promised the people work, bread and to ignore the terms of the Treaty of Versailles. People were desperate and thought Hitler was their only hope and went ahead and voted for him.
