The Significance Of The Wall Street Crash In 1929

Great Essays
In this essay, I will be examining the significance of the Wall Street Crash (WSC) by exploring its impact in socio-economic and political impacts on Germany up to 1934. This will include exploring its significance in terms of unemployment political crises, the rise of Nazis as the largest party and ultimately both the enabling act and the early stages of Gleichschaltung, up to the NOTLK and the death of Hindenburg as well as the Army oath and how this affected the German people. I will also contextualise the WSC by briefly examining how it was significant to ending the Stresemann Years, in 1929.

The Weimar government faced many problems through 1919 till 1924. Some problems such as the harshness of the Treaty of Versailles (TOV) as well as many putsches in Germany caused continuous problems for the Weimar Republic. Another example of such an incidence was the hyperinflation crisis in 1923 that left Germany more crippled than ever before. By 1924, the Weimar government, via the help of Stresemann, was able to recover the economy and bring in an almost ‘golden-age’ to Germany, assisted by Dawes , the Weimar Republic was able to obtain loans and have an easier repayment plan for the TOV, thus allowing
…show more content…
Hitler made all members of the Armed Forces swear allegiance, not to the Fuhrer or to Germany but to The Fuhrer Adolf Hitler, this meant that the armed forces were on his side and to his disposal for attacking other countries. This is one of the least significant links to the WSC, however it is still important as it lead to Hitler having complete control and having very few and weak opponents. This also scared people into siding by him in the hopes of surviving his

Related Documents

  • Superior Essays

    “To what extent was the Wall Street Crash responsible for Hitler’s rise to power?” Hitler became Chancellor in 1933 after a long series of events, which together contributed to his rise of power. Some were more important than others, but without some factors, Hitler may not have risen to power. One factor is then Wall Street Cash of 1929. Although important, it was not the sole reason for Hitler’s rise to power.…

    • 869 Words
    • 4 Pages
    Superior Essays
  • Improved Essays

    The Germans were banned from building their military. They were also required to make repair payments to the victorious powers. By 1930, a economic depression added to the hardships of the German people. The people were looking for a solution.…

    • 357 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    As Germany is sprung into the heart of the war, it also thrown into a “Great Depression”. The Depression and the Inconvincible War was the spark to the tiresome everyday German. With this happening we see the…

    • 822 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Dbq 11 Germany Analysis

    • 1050 Words
    • 5 Pages

    “The economy is collapsing more or less everywhere, but only in Germany does the process achieve its maximum effect on people’s spirits. ”- Heinrich Mann (Document 10) Germany was left in a state of devastation after WWI. However just because the war was officially over for them, did not mean the fighting had stopped in Germany. The entire World was in bad shape after the terrible war, but Mann explains how it seemed that nothing could go right for the Germans and with each blow the people’s hope began to diminish and the struggle to stay strong grew harder and harder.…

    • 1050 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Not only did they have to pay back their loans to the US, but they also had to pay for war reparations due to the Treaty of Versailles. Their economy took another blow when President Hoover signed the Smoot-Hawley tariff and ended world trade. Germany’s economy was built out of foreign capital and depended greatly on foreign trade. This meant that Germany could not control their economy. With their industrial economy evaporated, Germany’s production level fell resulting in an increase in unemployment.…

    • 1000 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    The picture of Fred Bell known as ‘Champagne Fred’, a one-time millionaire, selling apples at his stand on a busy street corner in San Francisco in March 1931 during the Great Depression, became a symbol of the stock market crash in 1929. (McLeod, 1969) Although the collapse of the stock market on October 24, 1929, known as the ‘Black Thursday’, signed in everyone’s mind the beginning of the Great Depression, actually it only precipitated it. A combination of conditions led the United States to the worst economic crisis in its history. During this traumatic period of despair, the Presidents Herbert Hoover and Franklin D. Roosevelt would answer this crisis with very antagonist approaches to bring the United States out of this economic catastrophe.…

    • 1247 Words
    • 5 Pages
    Great Essays
  • Great Essays

    The arrangement of the Versailles treaty held Germany responsible for the devastation caused by the World War 1. The arrangement further stated that the country should pay what was termed as payment around several billion pounds. In addition to that it lost a significant portion of its mineral deposits, thirteen percent of her territory seized and ten percent of her population (Carr, 1939). This gave rise to the existence of divide in the country which provided Hitler with an avenue to influence the occurrence of the World War…

    • 1323 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    The world was left in disarray after the first World War, and much of the international economy depended the growing success of the United States as the remaining world superpower. As a result, the crash affected nations worldwide as Germany was still struggling from the Treaty of Versailles, and ultimately Nazi Regime took hold of the poor situation (Harris 7). If it were not for the Crash that led to the international downfall, Germany would have not been in such a dire state and not allow fascist ideals to sneak into their central government. Germany desired for stability and Nazi ideology became their focus in order to reinforce their place in the world once again, but Germany began to violate the laws of the Treaty of Versailles. As the power of Nazi regime grew, so did the economy of Germany and an improving sense of nationalism that eventually evolved into German expansion throughout Europe.…

    • 1362 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    Before the 1929 stock market crash, people lived normal lives, had regular amounts of income, and most were employed and happy. But one cold October morning, forevermore referred to as “Black Tuesday”, things took a turn for the worst. Due to irresponsibility and dumb trust in the stock market, it crashed that day, making all the banks close their doors. As a result, people lose their jobs, get little to no income, a lower quality of living, and an atmosphere of sadness. This is the beginning of The Great Depression, a period of time that will forever go down in history.…

    • 560 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    The signing of the Treaty of Versailles led to rise of Hitler. According to Robert Wilde, "It can be argued that Hitler would have never taken power without the massive economic depression which struck the world. It can also be argued Germanys economic troubles at this time were due to Versailles." The treaty of Versailles forced Germany to pay $33 billion in reparations and caused hyperinflation in the German economy.…

    • 298 Words
    • 2 Pages
    Improved Essays
  • Great Essays

    The Stock Market Crash of 1929 is notoriously known as one of the darkest days in United States history (Rose, Pg. 64). For it marks the unofficial beginning of struggles for not only stockholders, but to the population of the U.S. as a whole. This time period, better known as the Great Depression, was not only felt by almost every adult resident in the United States, but also by people that had no clue what the stock market even was. Children, women and men alike all suffered from the finical impact of the event that occurred on that frightful day. But the money was not the only thing affected; the social structure of American leisure time, education, families and lifestyle was forever changed to the point of no return, at least for a long time.…

    • 2054 Words
    • 9 Pages
    Great Essays
  • Improved Essays

    Germany was affected more than other countries because they had the burden of reparations and the Weimar Republic’s constitution made the Reichstag indecisive. Another issue…

    • 1005 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    The Stock Market Crash of 1929 that triggered the Great Depression in Canada has forever changed the country. During the 1920 's, the Canadian and the United States stock market was evaluated by the potential growth of companies and people were “invest hungry” and hardly looked at the assets because they thought that it would rise no matter what and that it was a no risk, high profit investment. It was predicted on October 24, 1929 (Black Thursday) that the market had reached an all time high and that the"bull" stock market was so high that it would be hard for it to continue rising at the same rate. Unfortunately on October 29, 1929 (Black Tuesday) the North American stock market was crashing and in a panic everyone started to sell their stocks…

    • 1134 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    During the 1920’s America had experienced an economic growth in which not only did it made the Nation rich but the people were able to obtain more luxuries such as cars, jewelry, events, and even afford buying a house. By the time it had become popular for people to possess items of high value and even value them more than anything. The time during this period was suitable; People were earning more money and consuming more, which also meant that people were investing great amounts of money into stocks, but on October 29, 1929 the stock market took a downturn in which eventually led to the events of the Great Depression. As the stock market crash not it only did it affect millions of Americans, it affected the economy as well. This tragedy is historically known as “The Stock Market Crash of 1929,” were it focuses on the events that led to the stock market’s collapse and its aftermath, The Great Depression.…

    • 1304 Words
    • 6 Pages
    Improved Essays
  • Great Essays

    Due to such great shock in the US stock markets, many internationals banks and companies which invested heavily in US stock markets lost hefty amount of capital, which dealt a serious blow to financial markets around the world. Therefore, investors all over the world lost a lot of capital and could not sustain the previous investment, and global economies and financial markets were in a seriously contracting vicious cycles, evidenced by contraction of credit, business closures, acutely high employment and plummeting of money supply. There was a worldwide run on US gold deposits and Federal Reserve Board had to hike interest rates to curb the excessive capital outflow. However, they could not resuscitate the global financial systems and more than 4000 banks failed. According to Leonard’s Three Years Down (1944) and Allen, Frederick, Lewis’, Since Yesterday: the 30's in America (1972), “"That Saturday and Sunday Wall Street hummed with week-day activity.…

    • 942 Words
    • 4 Pages
    Great Essays