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post world war 1 the Australian economy was not very good at all so they borrowed a large amount of money from the london loan market.
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due to financial proplems on a global scale the wall street stock exchange crashed.
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the govenment spending was cut as they were borrowing way, way way to much money and could not pay even close to enough back to the london loan market
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after the stock market crashed the Aussie trade downpoured by millions of dollars:$640,000,000-$460,000,000!
economy was built on exports such as:
-wheat
-wool
-dairy
the price of these had stumped by 50% in 1931. -
what a triumph in this deapth of depression, hoorah!
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one third of the working population of the Aussies for anyone who could work
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