Hitler’s rise to power through The Great Depression
Here is a video to briefly summarise the situation during The Great Depression
Brief Introduction
The Great Depression was a severe worldwide
economic recession during the early 1930s. In most countries it started in 1930s
and lasted until the late or middle 1930s. The depression originated in the
United States of America (USA), after the fall in stock prices that began
around September 4, 1929, it became worldwide news with the stock market crash
of October 29, 1929.
How it affected most parts of the world
The Great Depression had catastrophic effects
in many countries. Personal income, tax revenue, profits and prices dropped,
while international trade plunged by more than 50%. Unemployment in the U.S.
rose to 25%, and in some countries rose as high as 33%. Cities all around the
world were hit hard, especially those dependent on the heavy industry.
Construction was virtually halted in many countries.
How the Great Depression affected Germany
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| NSDAP,otherwise known as Nazi's, flag |
The Great Depression in Germany's Weimar
Republic was hit hard by the depression, as American loans to help rebuild the
German economy now stopped. Unemployment soared up to 30% especially in larger
cities, and the political system veered towards the right and left wing parties,
increasing the support for the Nazi (NSDAP) and Communist (KPD) parties.
Repayments of the war reparations due by Germany were suspended in 1932
following the Lausanne Conference of 1932. Hitler and the Nazi Party came to
power in January 1933, establishing a totalitarian single-party state within
months and initiating the path towards World War II, the most devastating
conflict in world history. The economy of Germany was supported by the granting
of loans from the U.S. When American banks withdrew their loans to German
companies, the onset of severe unemployment could not be stopped by
conventional economic measures. The Nazi Party (NSDAP) entered the Reichstag
with 19% of the popular vote and made the fragile coalition system by which
every chancellor had governed unworkable. The rise of Hitler and its effects on
Germany played one of the most crucial roles in the rise to power of the Nazi
Party. At the September 1930 Reichstag elections, the Nazis won 18.3% of the
votes and became the second-largest party in the Reichstag after the SPD.
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