1 The Causes of the Great Depression ? Trade, Money, Loan, and Internal problems ? Protective tariffs (taxes on imported goods) were put in place in establish to protect domestic industry, but they were not high gear decent to obstruct the movement of goods ? WW1 changed this because entirely in all belligerents (countries participating in war) overproduce, overdevelop their industrial sectors to provide enough goods for war ? After the war, to protect the new industries, all countries instilled high tariffs (to keep the industries from going out of business) ? 1922 the US began increase tariffs ? 1930- Hawley Smoot Tariff raised the countrys tariffs to an all time high taxes on imported goods was 32%-40% ? It became hard to restore raft because the trade links were broken (uneven distribution of currencies) ? A plenteousness of European wealth had gone to US because convertible silver (currency accepted by any country) was in short supply ? To stir up trade, US, Britain, and France loaned and invested in poor countries, like Germany ? World trade shrank ? associate still owe the US $10 billion from loans from the war ? affiliate point out that they lost more than the US and put across that the US saw the unpaid $10 billion as a contribution to the associate ? US says no, pay back all of the money plus interest ? Germany had to pay $33 billion to the Allies (primarily to Britain and France) ? This causes the depreciation (inflation) of the German Mark ? Marc became unserviceable-- Spring 1921, $11 = 65 German Marks. By November 1923, $1 = 4.2 trillion Marks. ? Everything with German money is worthless and the German middle class is devastated ? German government was the Weimer Republic ? The tribe were already angry... If you want to get a full essay, tack together it on our website: Ordercustompaper.com
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