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Post World War I
Australia borrowed lots of money from the London loan market.After WWI people died and couldn't do their jobs, so Australia borrowed lots of loans to keep Australia's economy running. -
Period: to
The Great Depression
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Wall Street Crash
Due to financial problems since the war the New York stock exchange crashes.Lots of people were borrowing money, so much borrowed money that Wall Street stock exchange then crashed and lot of people lost money. -
Government Spending Cuts
The Bailiu government(Australian Government) starts making cuts to find ways to repay loans, intrest etc. The Stock Exchange crashes which affects th Aussie government.The banks were saying we need money now, so Australia made lots of cuts and changes -
Australian Economy Suffers
The Australian exports (Wool,flour,dairy etc) fall in price by almost 50%. Australia depended on exports, the main exports were wool, flour and dairy. But the banks brake down so people had to sell their prices for left. -
Sydney Harbour Bridge Opens
The Sydney Harbour Bridge Opens. It provided jobs for people which means it brought Australia together. -
Unempoyment At A High
33% of the population were unemployed. -
Economy Starting To Recover