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Australia was affected badly during the period of the Great Depression of the 1930s. The Depression began with the Wall Street crash of 1929 and rapidly spread worldwide. As in other nations, Australia had years of high unemployment, poverty, low profits, deflation, plunging incomes, and lost opportunities for economic growth and personal ...
Centenary of Western Australia; 4 April – 1929 Tasmanian floods: A dam on the Cascade River in Tasmania collapses. The subsequent torrent floods the town of Derby, killing fourteen people. [1] 3 June – Fremantle, Western Australia is proclaimed a city. [2] 12 October – A federal election is held.
October 12, 1929: James Scullin wins election to become new Prime Minister of Australia October 24, 1929: Panic selling begins on Wall Street when the New York Stock Exchange opens as investors scramble to pay "margin calls", a day commemorated as "Black Thursday" and as the start of the Great Depression October 3, 1929: The Kingdom of the Serbs, Croats and Slovenes officially shortens name to ...
OpEd: This month marks the 60th anniversary of the “War on Poverty,” when President Johnson traveled to Inez, Ky. to make the case that the dire economic conditions faced too many Americans.
In 1919, Ryan resigned and Theodore succeeded him as Premier of Queensland, then Australia's only Labor state government, following the great split in the Labor Party over the issue of conscription in World War I. He was a popular and successful Premier, and soon began to be talked about as a possible federal Labor leader.
Throughout 1928 and 1929 economic conditions in Australia and internationally had been declining, whilst Australian debt had grown and revenues had shrunk. Facing major challenges, Bruce had embarked upon extensive negotiations throughout 1929 to tighten federal control over finance and industrial relations and to implement ameliorating ...
The history of Australia from 1901 to 1945 begins with the federation of the six colonies to create the Commonwealth of Australia. The young nation joined Britain in the First World War, suffered through the Great Depression in Australia as part of the global Great Depression and again joined Britain in the Second World War against Nazi Germany in 1939.
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.