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The German political landscape was dramatically affected by the 1929 Wall Street crash, which hampered economic aid to Germany. The Great Depression brought the German economy to a halt and further polarized German politics. Hitler and the Nazis began to exploit the crisis and loudly criticized the ruling government.
31 August – The Young Plan for settling German World War I reparations is finalized. October – The Wall Street crash of 1929 marks a major turning point in Germany: following prosperity under the government of the Weimar Republic , foreign investors withdraw their German interests, beginning the crumbling of the Republican government in ...
The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
The Young Plan, which sets the total World War I reparations owed by Germany at US$26,350,000,000 to be paid over a period of 58½ years, is finalized. It replaces the earlier Dawes Plan. October 29 The Great Depression begins with the Wall Street crash.
Post–World War I recession; ... Depression of 1920–1921; Wall Street crash of 1929 and Great Depression (1929–1939), one of the worst ... German economic crisis ...
The world-wide financial crisis that followed the Wall Street crash made it impossible for Germany to meet the reparations payments set up in the Young Plan. [13] In 1931 President Herbert Hoover of the United States convinced 15 other nations to participate in a one year moratorium on reparations and war debt payments. [14]
At this time, however, Churchill's main interest was in recovering financial losses—about £12,000 (equivalent to about £958,280 in 2023)—he had sustained in the Wall Street Crash and he embarked on a potentially lucrative lecture tour of North America, accompanied by Clementine and Diana.
This year marked the end of a period known in American history as the Roaring Twenties after the Wall Street Crash of 1929 ushered in a worldwide Great Depression. In the Americas, an agreement was brokered to end the Cristero War, a Catholic counter-revolution in Mexico.