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Impacts Of Great Depression On Australians

750 words - 3 pages

The Great Depression began in October of 1929 and didn't end until the late 1930s. It severely affected many nations and Australia was not left out. The Great Depression impacted on Australia and its population politically, socially and economically.The catastrophe was caused by five main reasons. The initial event that triggered the depression was the crash on Wall Street stock exchange in New York. It began when investors started selling their shares at panic proportions and sold them at drastically reduced prices. Thousands of investors and companies went bankrupt. Australia also borrowed millions of pounds from overseas so when the depression struck, countries that lended the money such as Britain required their outstanding loans to be repaid. Cycles of boom and slump, overproduction and poor government also triggered theThe Great Depression's impact on Australian society was devastating. The social impacts included unemployment, evictions, the "susso", jumping the rattler and susso camps or shanty towns. Unemployment was one of the major problems caused by the Great Depression. Businesses and exports came to a dramatic decline resulting in sudden and widespread unemployment. Thousands of employed Australians who had some form of financial security suddenly lost their jobs and unemployment rates sky rocketed to more than 30 percent in 1930. Without work and a steady income many people got evicted from their homes and were forced to live in makeshift dwellings made from cardboard, sheets of corrugated iron, hessian cloth and anything they could find in areas of waste ground on the outskirts of cities called shanty towns. Some of the well-known shanty towns were Happy Valley at Le Perouse and Brighton - le - Sands.The Commonwealth government were slow to assist and eventually gave the unemployed sustenance payments called the "susso" and Australians called it "being on the susso". The "susso" payment was in the form of ration tickets and could be exchanged at allocated shops for food. There was no susso for rent, electricity or clothing and no money was given. However, men applying for the susso felt humiliated as they had to queue for hours and suffer the indignity of being questions about private affairs. Others were just too proud to accept the susso.The...

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