The Great Deppression in Australia

Essay by lankymarkHigh School, 10th gradeA+, September 2006

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Why was Australia affected by the Great Depression?

In the 1930's the Great Depression was a period of world wide economic decline. It affected Australia because Australia was linked with other countries by financial borrowings and trades. Australia started to look towards the depression in 1929 and then peaked around 1933. In late 1929 the New York stock market collapsed. This didn't help Australia, because it meant that Australian goods sold overseas were falling in price, which led to businesses to shut down, which brought the unemployment rate up to 30%. Australia relied greatly on the exporting of goods which were mainly wool and wheat. The prices decreased rapidly from 1928 to 1931. Companies were being shut down all over the world which led to lots of unemployed workers who had no money to spend on goods sent over from Australia so they weren't need as much anymore. Farming markets were being shut down in Australia which made it impossible for farmers to sell their crops and produce.

The Unemployed

The Unemployed had it tough in the great depression. The government provided dole tickets or small amounts of money. The ones with dole tickets could exchange them for food in certain grocery stores. The ones that were given small wages were given so little that they could only just survive on it. They were given one tenth of the minimum wage. Many men took to door-to-door sales selling items such as clothes, fresh fruit, handmade toys etc. Some special relief work was offered in certain cities for unemployed men with families, some of the jobs that they had to do were building roads, maintaining public areas and building public facilities. Most farmers were refused dole payment but there was plenty of food available in the country. Many grew their...