Answer:
The
German economy was the worst hit by the economic crisis caused by the Great
Economic Depression (1929-1932) in the USA. German investments and industrial
was largely dependent on loan from the USA. The Wall Street Exchange crashed in
1929, the USA withdrew the support from Germany.
(i) By 1932, industrial production was reduced to 40 per cent of the 1929
level.
(ii) The number of unemployed was 6 million. People with
'willing to do any work' placard could be seen on the street. Unemployment rate
reached nearly 30 per cent in 1932.
(iii) Unemployed youths sometimes involved in criminal
activities. They were seen playing cards, sitting at street corners or
desperately queuing up at local employment exchange.
(iv) The Germany currency (mark) collapsed, prices rose
phenomenally high due to hyper inflation.
(v) The economic crisis created deep anxieties and fear in
people. As business got ruined, small businessmen, self-employed and retailers
were filled with the fear of proletarianisation, an anxiety of being reduced to
the ranks of workers or unemployed.
(vi) Big businessmen were also in crisis.
(vii) The large mass of peasantry was affected by a sharp
fall in agricultural prices.
(viii) Women, unable to feed their children properly, were
filled with a sense of despair.
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