The Great Depression in Australia Abbey Lippe

  • Post World War 1

    Australia was affected particuarly badly by the war, lots of jobs were lost and we didnt have enough money to run the country so we borrowed a large amount of money from the london loan market.
  • Period: to

    The Great Depression

  • Wall Street Crash

    Wall street is the financial hub in america, and the where the global stock exchange, due to problems financially the stock exchange in wall street crashed. because of this lots of big companies and people lost money.
  • Government Spending Cuts

    Government spending was cut because they had to find ways to repay loans and interest. The reason they had to make these cuts was because they had borrowed all this money from the London Loan Market.
  • Australian economy is struggling

    After the stock market crash Australians trade in the economy drops , before it was worth 640,000,000 dollars two years later it was 460,000,000 this means there was less money circulating in and out of the country. The australian economy was built on exports such as wool, wheat and dairy. In 1931 the price of these had slumped by 50% this meant that Australia was stuggling because they had to pay their loans back as well as people werent willing to buy the products.
  • The Sydney Harbour Bridge opens

    The bridge opened and it was a triumph in the midst of depression because it created jobs to build.
  • Unemployment at a highpoint

    1 third of the working population were unemployed.
  • Economy gradually starting to recover