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The Great Depression caused financial ills in all the major economic countries. Major European banks went bankrupt, causing alarm in other foreign banks. Great Britain went off the gold standard. The Bank of England no longer redeemed its paper money in gold bullion or coin. Investors feared that all paper money would lose its value so they withdrew $1.5 billion in gold from American banks. This further weakened the global economic situation.
Wiki User
∙ 13y ago
Wiki User
∙ 10y agoNo, the Great Depression started first in Germany (due to payments of WW1 war reparations) then spread throughout Europe before affecting the US. Eventually most countries in the world were affected by it to some degree.
Wiki User
∙ 9y agoThe Great Depression began in the United States in 1929. The economic depression quickly began enveloping other countries, and there was no monies being sent from other countries.
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How was the start of the Great Depression?
The Great Depression was a direct result of the crash of the US stock market in 1929.
Which country's economy was not destroyed of world war 2?
WW2 not only didn't hurt the US's economy, it actually pulled us out of the Great Depression.
What brought the us economy out of the great depression what brought the u.s. economy out of the great depression?
Mainly, it was World War II.
What years approxomitaly did the Great Depression take place in the us?
The Great Depression lasted from 1929-1939.
The Great Depression was an American phenomenon only.?
False
What kind of depression was the us in during the 1930's?
they were in the great depression...
Was the great depression the only depression to affect the US?
Once we finish this "recession" we will be calling the last few years the "Greater Depression".
What is the worst period of economic hardship in US history?
Great Depression
Is there going to be great depression 3?
There has only been one Great Depression.
Who brought out the us from of the Great Depression?
Franklin Delano Roosevelt and World War II brought us out of the Great Depression.
Why did technology get the us out of the Great Depression?
Technology did not get the US out of the Great Depression. World War II is what got the United States out of the Great Depression because of all the jobs that were created with prepping for the war.
Did the Great Depression effect the US?
no
Did the Great Depression lead to cold war?
The great depression of the 1930's led to WW2; WW2 got the US out of the depression.
How was the start of the Great Depression?
The Great Depression was a direct result of the crash of the US stock market in 1929.
In the 1930's the US went into a severe economic state known as the?
The Great Depression
What the novel Tell us about the life of peasants during the great depression?
godan tells us about the life of peasants during great depression
What were the effects of the great depression for the US?
Saisbres.
