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post world war 1
australia borrowed lots of money from the london loan market
after world war people didnt have much money and there weren't many jobs -
Period: to
The great depression
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wall street crash
due to finnancial problems since the war the new york stock exchange crashed.
to many banks had loaned money and to many people borrowed alot of money, causing it to crash. -
Goverment spending cuts
The australian government starts making cuts to find ways to repay loans, intrests etc.
stock exchang crashes and now its effecting Australia, and the banks want money, so they have to make cuts to pay back the loans. -
Australian economy suffers
Australian exports (wool,flour,dairy etc.) fall in price by almost 50%. -
Sydney Harbour Bridge Opens
the sydney habour bridge opend and created jobs, -
Unemployment at a high
lowerd prices for exports but rose them for Australians -
Economy Starting to recover