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THE GREAT DEPRESSION

What was the Great Depression? . A Depression is a severe downturn in economic activity, which is marked by very high levels of unemployment and low levels of consumer spending and investment. . How did the Great Depression Start? . The Great Depression began on the 24th October 1929 when the stock market on Wall Street crashed. .

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THE GREAT DEPRESSION

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    1. THE GREAT DEPRESSION

    2. What was the Great Depression? A Depression is a severe downturn in economic activity, which is marked by very high levels of unemployment and low levels of consumer spending and investment.

    3. How did the Great Depression Start?

    4. How did the Great Depression Start? continued . . . Unfortunately, as large numbers of shares were sold, the price of shares started to fall rapidly.

    6. What effect did the Depression have on Australia? Australia’s industries were built on overseas loans. Australia owed millions of pounds that it had borrowed in the 1920’s boom time.

    8. Poverty Businesses were unable to sell their products and put off workers.

    10. Looking for Work

    11. On the Susso Workers who lost their jobs were further humiliated by having to queue for the dole (susso).

    12. Living in Shanty Towns In most cases, no support was provided for rent and clothing; let alone small luxuries. One of the greatest problems for the unemployed was to keep a roof over their heads and to avoid eviction.

    13. Solutions to End the Depression Many solutions were proposed to end the Depression. The NSW Premier, Jack Lang, proposed a policy of inflation. This meant:

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