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Peru

Peru. The Great Depression. Government. Peru had a constitutional republic A constitutional republic limits the governments power over citizens – those part of the government ( i.e - President) must govern according to existing constitutional law. Diversified Economy.

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Peru

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  1. Peru The Great Depression

  2. Government • Peru had a constitutional republic • A constitutional republic limits the governments power over citizens – those part of the government (i.e- President) must govern according to existing constitutional law

  3. Diversified Economy • Peru’s economy was not hit as hard during the depression because of its diversified range of exports • Cotton and industrial metals were its leading exports • Peru had a rapid recovery as early as 1932

  4. Industries during the Great Depression Exports • kept a mainly open economy, didnt put up tariffs on imports.  • agricultural : cotton, sugar, wool and petroleum  • mining: silver gold, guano, lead, copper • Fishing industry  • textiles Imports: • capital goods and manufacture 

  5. Main Trading Partners • US • Brazil • Bolivia • Argentina • Chile • Canada

  6. Social Class Structure -organized into 3 class structures -Upper class (minority): approx only 3% -Middle class: workers that depend on salary and job(60% of pop.) -Lower class: workers and rural people (farmers) -class structure consists with a majority of middle class people.

  7. How hard was Peru hit by the depression? • Demands for goods decreased so, less production of capital. • Result: internal deflation , fall in value of Latin American Currencies , rise in unemployment • Year after WallStreet Crash: government intervened to change economic policies to address crisis.

  8. Government Action

  9. Peru and the Depression • During this time Peru was under the control of President Leguia. • However, overthrown and the 1930s were rocked by civil wars for the next 3 years • The policies that were developed during the depression as well as Peru’s export sector being dominated by foreign companies did not allow the Depression to affect them as much. • Mining and Agriculture sectors, which made up a huge portion of Peru’s economy, were not hit as badly. • Result: used to bring around recovery.

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