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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 ...
3 January – Don Bradman makes 112 for Australia v England in the third Test match at Melbourne, his first Test Century. 5 November – Nightmarch wins the Melbourne Cup. The Australia national rugby league team embarked on the 1929–30 Kangaroo tour of Great Britain.
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity, industrial production, and trade; and widespread bank and business failures
The rising star's world beating cricketing exploits were to provide much needed joy to Australians through the emerging Great Depression in Australia and post-World War II recovery. Between 1929 and 1931 the racehorse Phar Lap dominated Australia's racing industry, at one stage winning fourteen races in a row. [98]
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 ...
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.
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 ...
Lyons was his own treasurer until 1935 and oversaw Australia's recovery from the Great Depression. He faced a number of foreign-policy challenges, but accelerated Australia's transition towards an independent foreign policy. In the lead-up to World War II his government pursued a policy of appeasement and rearmament.