Unit 11- The Great Depression

11.1 The Causes of the Great Depression
➢ Trade, Money, Loan, and Internal problems
➢ Protective tariffs (taxes on imported goods) were put in place in order to protect domestic industry, but they were not high enough to obstruct the movement of goods
➢ WW1 changed this because all belligerents (countries participating in war) overproduce, overdevelop their industrial sectors to provide enough goods for war
➢ After the war, to protect the new industries, all countries instilled high tariffs (to keep the industries from going out of business)
➢ 1922 the US began increasing tariffs
➢ 1930- Hawley Smoot Tariff raised the country's tariffs to an all time high – taxes on imported goods was 32%-40%
➢ It became hard to restore trade because the trade links were broken (uneven distribution of currencies)
➢ A lot of European wealth had......

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Title: The Great Depression
Approximate Word Count: 3286
Approximate Pages: 14 (250 words per double-spaced page)

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