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POST WORLD WAR 1
AUSTRALIA BORROWED LOTS OF MONEY FROM THE LONDON LOAN MARKET.AFTER WW1 MANY PEOPLE DIED AND COULD'NT DOTHIER JOBS SO THEY BORROWED LOANS. -
Period: to
GREAT DEPRESSION
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WALL STREET ,CRASH
Due to financial problems since the war the New York stock exchange crash. So many people had loans and Wall Street crashed. -
GOVERNMENT SPENDING CUTS
THE AUSTRALIAN GOVERNMENT STARTS MAKING CUTS TO FIND WAYS TO REPAY LOANS, INTRESTS ECT. THE STOCK EXCHANGE CRASHES EFFECTS THE AUSTRLIAN GOVERNMENT SOLOTS OF CUTS AND PRICE CHANGES WERE MADE -
AUSTRALIAN ECONEMY SUFFERS!
AUSTRALIANEXPORTS (WOOL, FLOUR, DAIRY ECT) FALL IN PRICE BY ALMOST 50%. AUSTRALIA DEPENDED ON EXPORTS BUT THE ECONOMY CRASHES SO POEPLE HAD TO SELL FOR LESS MONEY. -
SYDNEY HARBOUR BRIDGE OPENS
THE SYDNEY HARBOUR BRIDGE OP'ENS JOBS WERE PROVIDED -
UNEMPLOYMENT WAS AT A HIGH
32% WERE UNEMPLOYED PEOPLE WERE OUT OF WORK BECAUSE THE ECONOMY CRASHED -
ECONOMY STARTING TO RECOVER