what happened to australia during the great depression
Great Depression in Australia Australia suffered 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 suffered years of high unemployment, poverty, low profits, deflation, plunging incomes, and lost opportunities for economic growth and personal advancement.
Paris Peace Accords
Great Depression The common view among economic historians is that the Great Depression ended with the advent of World War II. Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery. It did help in reducing unemployment.[11][101][102][103]
British Empire Since 1718, transportation to the American colonies had been a penalty for various offences in Britain, with approximately one thousand convicts transported per year across the Atlantic.[79] Forced to find an alternative location after the loss of the Thirteen Colonies in 1783, the British government turned to the newly discovered lands of Australia.[80] The western coast of Australia had been discovered for Europeans by the Dutch explorer Willem Janszoon in 1606 and was later named New Holland by the Dutch East India Company,[81] but there was no attempt to colonise it. In 1770 James Cook discovered the eastern coast of Australia while on a scientific voyage to the South Pacific Ocean, claimed the continent for Britain, and named it New South Wales.[82] In 1778, Joseph Banks, Cook's botanist on the voyage, presented evidence to the government on the suitability of Botany Bay for the establishment of a penal settlement, and in 1787 the first shipment of convicts set sail, arriving in 1788.[83] Britain continued to transport convicts to New South Wales until 1840.[84] The Australian colonies became profitable exporters of wool and gold,[85] mainly because of gold rushes in the colony of Victoria, making its capital Melbourne for a time the richest city in the world[86] and the second largest city (after London) in the British Empire.[87]