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Post ww1
post world war 1: The Australian economy was bad so they borrowed a large sum of money fom the London loan market -
Period: to
great depression
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wall street financial crash
wall street is the global stock exchange for america. There was in imbalance in economy and people borrowed to much money so the stock exchange crashed so a lot of people and goverments lost heaps of money -
Government spending cuts
government spending was cut down to less money as they had to pay off loans and interests partly fromthe London loan market -
Australian economy struggled
after the stock market crash in the USA trade in Australia went down by 180(640 down to 460). At the time Australias economy was built on exports such as: wheat, flour, wool and dairy. In 1931 the price of these items slumped by 50% -
Sydney harbour bridge opens
The bridge oppened jobs were gained despite the depression and it was seen as a triumph in the depths of depression and tourists came quickly too which earned money for our economy. -
unemployment at a highpoint
one third of the working population are unemployed -
Economy gradually starting to recover