The ground work for the Great Depression was laid in 1919, with the signing of the treaty of Versailles to end world war one. The Reparations and the War Guilt Clause
In the treaty, Article 231 of the Treaty (the 'war guilt' clause) held Germany solely responsible for all 'loss and damage' suffered by the Allies during the war and provided the basis for reparations. The total sum due was decided by an Inter-Allied Reparations Commission and was set at £6.6 Billion. This would have taken Germany till 1984 to pay. The economic problems that the payments brought not only caused the collapse of the Weimar Republic, allowed Adolf Hitler to come to power and set the stage for another world war, but also had a ripple effect to the rest of the industrialized world. So the Allies could whoop it up for a decade or so on War profits, but ultimately, since the global economy was already very interedependent by 1900, Germany's depression became a global depression. In the US, this initial factor was magnified greatly by a stock price bubble that burst in 1929, and a severe drought plus several dust storms that rocked the midwest from 1931 till 1933.
2007-08-26 11:59:19
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answer #1
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answered by Anonymous
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The general beginning of the Great Depression in the United States is considered to be when the New York Stock Exchange crashed on October 24, 1929, a day known as Black Thursday.
There is agreement about the beginning of the Great Depression and we can as described above point to a particular year and day because the decline in stock prices was so dramatic and we did not have the same type of safeguards in our economy as we have today.
There is little agreement as to the date that the Great Depression ended. Part of that is because there were moments of recovery and decline. The New Deal under Franklin D. Roosevelt was our attempt to end the depression. Even today some are arguing about its success. It certainly did help due to its many programs for the three Rs..relief, recovery and reform. There were many different parts of this program and none of them by itself can be designated as the end of the depression. A good number of economists and historians believe that we did not see an end to the Great Depression until the outbreak of W.W.II which caused a marked increase in production and sent many men to the army which caused a labor shortage and finally erased high unemployment in the United States. You can think about December 7, 1941, the attack on Pearl Harbor as the end of the Depression, our massive aide to the Allies even before our entry into the war or some event afterwards. Even if you accept the theory about the beginning of W.W.II as the end of our Great Depression it is difficult to put a specific date as to its end. Your guess is as good as mine or anyone else's.
I don't think that there will ever be a consensus as to a specific ending date. Sometimes there unfortunately is not an exact answer to a question.
2007-08-26 19:39:47
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answer #2
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answered by DrIG 7
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It began with the crash of the Stock Market in October of 1929. It ended shortly before 8 AM (Hawaiian Time) on December 7, 1941 when Captain Takeo Fushida of the Imperial Japanese Naval Air Force steered his plane through Kolekole Pass on Oahu Island in the Territory and sent a signal back to the Japanese aircraft carrier Akagi: "Tora! Tora! Tora!" (Tiger! Tiger! Tiger!). Shortly thereafter the remainder of the Japanese strike force from Japan's Combined Northern Fleet, under the tactical command of Admiral Nogumo, laid waste to ships and military installations on the island. The Great Depression was over.
2007-08-26 19:34:01
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answer #3
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answered by desertviking_00 7
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The 1920s were one of the most prosperous decades in U.S. history. The Stock Market crash of Oct. 1929, started the Depression. Things were starting to get better somewhat by 1938. More jobs were becoming available. But I think one could say that it officially ended in Dec 1941, with the attack on Pearl Harbor. Infact, one year later, there was a labor shortage.
2007-08-26 19:24:50
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answer #4
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answered by Derail 7
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Teenahbeeah is right. The Great Depression began with the stock market crash in October 1929. The length of this period varied from one country to another but, generally, it ended by 1940. The depression was worldwide--increased production of materials during WWII finally brought it to an end.
2007-08-26 19:09:03
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answer #5
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answered by The one next to the blond 4
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the great depression?
that started sometime during 1929 from a stockmarket crash & i believe it ended in 1939.
2007-08-26 19:02:37
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answer #6
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answered by :) 5
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