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POST WORLD WAR 1
After WW1 Australia's economy was heading downwards so Australia borrowed a large amount of money from the London loan market to get the Australian economy up and running. -
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THE GRAET DEPRESSION
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WALL STREET CRASH
The Wall street crash was when America and the UK were still recovering from WW1 America had alot of borrowing issues which caused many people and goverments to lose money. This caused the Wall street trading stocks to crash. -
GOVERMENT SPENDING CUTS
The goverment spending was cut as they had to find ways to pay loans and intrest. The reason that they had to make cuts because America had borrwed alot of money from the London loan market and couldn't repay it using the markets. -
AUSTRALIAN ECONOMY STRUGLES
After 1929 stock market crash in America, Australia's 1929 640 million dollars dropped to 460 million. The Australian economy was built on exports like flour, wheat, wool and dairy. By 1931 these products prices slumped, this caused Australia's employment to slump as well. -
THE SYDNEY HARBOUR BRIDGE OPENS
In 1932 the Sydney Harbour Bridge opened. The Sydney Harbour Bridge created alot of jobs during the great depression. The Sydney Harbour Bridge was a grreat triumph. -
UNEMPLOYMENT AT A HIGH POINT
One third of workers working. -
AUSTRALIA'S ECONOMY RECOVERING
Australia's economy is recovering.